DZ Bank Backs Qualcomm (QCOM) with Buy Rating; Company Eyes $15 Billion in Sales by 2029 - Yahoo Finance

DZ Bank upgraded Qualcomm (QCOM) from 'Hold' to 'Buy' on June 26, 2026, with a price target of $265. This move follows Reuters' report that Qualcomm expects its data center business to generate $15 bi... Read original →

Qualcomm’s aggressive pivot into data center and AI custom chips is catalyzing a convergence between mobile SoC and server CPU tech stacks. Its ARM-based power efficiency could redefine edge-to-cloud computing paradigms, pressuring foundries like TSMC to reallocate CoWoS advanced packaging capacity. However, tightening U.S. CHIPS Act subsidy scrutiny and escalating supply chain risks in Taiwan, China will sharply raise compliance costs for its in-house AI accelerator IP. NVIDIA and AMD are likely to counter with software ecosystem moats and Chiplet interconnect standards to delay Qualcomm’s entry. MediaTek may exploit this distraction to gain ground in 5G RedCap IoT. If Qualcomm misses its $5B data center revenue target by FY2027, its valuation premium will collapse—investors aren’t betting on technical feasibility, but execution certainty.