Published: December 8, 2025 — All prices and figures are approximate and may change intraday. This article is informational and is not investment advice.
Qualcomm stock price today: where QCOM stands on December 8, 2025
Qualcomm (NASDAQ: QCOM) is trading around $174–$175 per share today, modestly lower on the session and roughly 15% below its 52‑week high of $205.95, while still well above its 52‑week low of $120.80. [1]
Key snapshot as of December 8, 2025:
- Last price: about $174–$175 per share
- Day range: roughly $173.7 – $177.3 today [2]
- 52‑week range:$120.80 – $205.95 [3]
- Market cap: around $185–190 billion (varies by source and intraday price) TechStock²
- Dividend yield: about 2.0%, based on a quarterly dividend of $0.89 per share [4]
- Valuation: trailing P/E in the mid‑30s and a forward P/E in the high‑teens, roughly in line with higher‑growth semiconductor peers. [5]
In short, Qualcomm stock is no longer “cheap” in absolute terms, but it isn’t priced like a hyper‑growth AI favorite either. It trades at a premium to the broader market, yet at a discount to leaders like Nvidia and, on some metrics, AMD. [6]
Fresh headlines on December 8: ‘AI loser’ label meets institutional interest
Wedbush calls Qualcomm an “AI loser”
The most eye‑catching headline today is a Wedbush Securities report that groups Qualcomm with a dozen so‑called “AI loser” stocks — companies the firm thinks could be “left behind” in the next phase of the AI boom. [7]
According to coverage of the report:
- Qualcomm, Intel and HP are seen as hardware names hurt by a “memory squeeze” — rising memory costs and a still‑PC‑centric revenue mix. [8]
- Wedbush argues that these firms aren’t positioned to capture as much value from AI infrastructure as Nvidia or AMD, and may face margin pressure as PC and legacy workloads get squeezed. [9]
This doesn’t change Qualcomm’s fundamentals overnight, but it does highlight a key risk: if investors increasingly separate AI “infrastructure winners” (like GPU leaders) from AI “also‑rans”, valuation multiples could diverge even further.
New filings around Alphawave deal
At the same time, there’s a flurry of UK Takeover Code disclosure forms today linked to Aqua Acquisition Sub LLC, an indirect wholly owned Qualcomm subsidiary that’s bidding for Alphawave IP Group (Alphawave Semi): [10]
- Goldman Sachs & Co. LLC and Goldman Sachs International filed updated Form 8.5 disclosures reflecting equity and derivative dealings in Alphawave securities. [11]
- Morgan Stanley & Co. LLC posted a Form 8.5 (EPT/RI) for Aqua Acquisition Sub LLC. [12]
- Invesco Ltd published a Form 8.3 disclosing positions in Alphawave. [13]
These documents don’t change Qualcomm’s earnings outlook directly, but they confirm that the Alphawave acquisition process is very much alive and actively traded around.
Fresh institutional ownership moves
Recent 13F‑style data summarized by MarketBeat show that Brown Advisory modestly increased its Qualcomm stake (up about 3.4% to just over 105,000 shares, roughly $16–17 million) along with other institutional activity in the name. [14]
Overall, around three‑quarters of Qualcomm’s float sits with institutions, and we’re seeing a mix of trimming and accumulation, not a one‑way exit. TechStock²+1
Earnings check: record fiscal 2025 and upbeat 2026 guidance
Q4 FY 2025: broad‑based strength
On November 5, 2025, Qualcomm reported a strong Q4 FY 2025, beating expectations and underscoring its diversification beyond smartphones: [15]
- Revenue: ~$11.3 billion, +10% year over year, ahead of consensus (~$10.8B).
- Non‑GAAP EPS:$3.00, +12% YoY.
- QCT (chip) revenue: $9.8B (+13% YoY).
- Handsets: $7.0B (+14% YoY)
- IoT: $1.8B (+7% YoY)
- Automotive: $1.1B (+17% YoY)
- Licensing (QTL): $1.4B, down slightly YoY but still highly profitable.
For full‑year FY 2025:
- Non‑GAAP revenue: about $44.1B, +13% YoY.
- Non‑GAAP EPS:$12.03, +18% YoY.
- Free cash flow: around $12.8B, with nearly all of it returned to shareholders via buybacks and dividends. [16]
Q1 FY 2026 guidance: above the Street
For Q1 FY 2026, Qualcomm guided to: TechStock²+1
- Revenue:$11.8 – $12.6 billion (above prior consensus around $11.6B).
- Non‑GAAP EPS:$3.30 – $3.50, also above the ~$3.26 expectation at the time.
Analysts now expect roughly $9.4+ in EPS for fiscal 2026, which implies a forward P/E in the high‑teens at today’s prices. [17]
The earnings story is straightforward:
- Phones are stabilizing at the premium end, thanks to Snapdragon 8‑series chips. [18]
- Automotive and IoT are growing faster than the core handset business, and are now material contributors. [19]
- Qualcomm is leaning into AI PCs and data‑center inference as new multi‑year growth engines (more on that next). [20]
AI strategy: data centers, AI PCs and Saudi Arabia partnership
AI200 and AI250: Qualcomm steps into AI data centers
On October 27, Qualcomm formally entered the AI data‑center race with two new inference chips, AI200 and AI250, sending the stock up roughly 20% in a single session. [21]
From Reuters and company commentary: [22]
- AI200 and AI250 are designed for AI inference workloads (running already‑trained models), not training like many Nvidia GPUs.
- The platforms emphasize high memory capacity and better energy efficiency, with the goal of lowering total cost of ownership for enterprises and cloud providers.
- Qualcomm is not just selling chips; it’s offering entire racks built around these accelerators, similar to Nvidia and AMD’s move toward full systems.
- Saudi‑backed startup HUMAIN has agreed to deploy about 200 megawatts of Qualcomm AI racks starting in 2026, giving Qualcomm a marquee early customer. [23]
For Qualcomm stock, this move is crucial: it positions QCOM in the fastest‑growing part of the AI stack, even if it’s starting behind Nvidia. Investor enthusiasm around these products is a big reason why Qualcomm’s share price rallied into the high‑$170s this autumn. [24]
AI PCs and Snapdragon X2
On the client side, Qualcomm is pushing its Snapdragon X2 Elite and X2 Elite Extreme chips as the heart of the AI PC wave: [25]
- These Windows laptop SoCs pair high‑performance CPUs with powerful NPUs targeting on‑device AI workloads.
- Management now expects around 150 Snapdragon‑powered AI PC designs shipping by 2026, across consumer and enterprise tiers. [26]
- Independent analysis suggests X‑series chips can beat x86 rivals on performance‑per‑watt, which matters as AI features push compute and battery demands higher. [27]
If Qualcomm can win share in AI laptops and desktops while carving out a niche in data‑center inference, the company’s earnings mix will look very different by 2027–2030 compared with the handset‑heavy past.
M&A and regulation: Alphawave acquisition and China’s Autotalks probe
Alphawave Semi: building an AI connectivity stack
In June, Qualcomm agreed to a recommended acquisition of Alphawave Semi (Alphawave IP Group) via Aqua Acquisition Sub LLC. [28]
Why it matters:
- Alphawave brings high‑speed SerDes and connectivity IP used in data‑center and networking chips — critical building blocks for linking many AI accelerators in racks. [29]
- The deal is being executed through a UK scheme of arrangement, and recent filings show that regulatory approvals are largely in place, with the process moving toward completion. [30]
- Today’s wave of Form 8.3 and 8.5 disclosures from banks like Goldman Sachs, Morgan Stanley and Invesco simply reflects trading activity in Alphawave shares and derivatives under the UK Takeover Code. [31]
If and when the deal closes, Qualcomm will have a more complete edge‑to‑cloud AI platform, from device NPUs to data‑center interconnects.
Autotalks and the China antitrust overhang
On the risk side, China’s State Administration for Market Regulation (SAMR) has opened an antitrust investigation into Qualcomm’s acquisition of Israeli V2X specialist Autotalks. [32]
Key points:
- SAMR says Qualcomm completed the Autotalks deal without notifying Chinese regulators, despite earlier guidance that approval was required. [33]
- Under China’s updated Anti‑Monopoly Law, “gun‑jumping” fines can reach RMB 5 million, with potential surcharges if regulators had explicitly requested a filing. [34]
- The transaction itself is relatively small (reported well under the original $350M valuation), but China is a major revenue source for Qualcomm, so any regulatory friction there matters. [35]
CoinCentral and legal analyses note that the Autotalks probe is as much a warning shot to global chip M&A as it is a direct threat to Qualcomm, but it does add another line to the company’s already long list of China‑related risks. [36]
What analysts and models are forecasting for Qualcomm stock
Wall Street analysts: “Moderate Buy” with single‑digit upside
Across major data providers, Qualcomm currently sits in a constructive but not euphoric zone:
- MarketBeat:
- Consensus rating: Moderate Buy (23 analysts: 13 Buy, 9 Hold, 1 Sell).
- Average 12‑month target:$189.90, implying about 9% upside from ~$174.
- Target range: $150 – $225. [37]
- Benzinga:
- Consensus price target:$191.96 from 31 analysts, with a high of $270 and a low of $140. [38]
- Public.com:
- 17‑analyst consensus: Buy rating.
- Average target:$186.94, broadly in line with other sources. [39]
In addition, a recent Zacks‑sourced analysis notes that 2026 and 2027 EPS estimates for Qualcomm have risen about 2% and 3% over the last two months (to $12.14 and $12.65), which it interprets as a sign of improving sentiment. [40]
The big picture: most traditional Wall Street analysts see modest upside, not a moonshot, and they remain split between those focused on AI optionality and those worried about margins, China and competition.
Valuation models: generally seeing some undervaluation
Quantitative and DCF‑style models tilt bullish but with a wide spread:
- A recent Simply Wall St DCF model pegs intrinsic value around $204–205 per share, suggesting roughly 19% undervaluation. [41]
- Other Simply Wall St “narratives” show fair values spanning roughly $190 to about $300, depending on how aggressively one models AI‑driven growth. [42]
- Alphaspread’s blended intrinsic value estimate (~$176) calls Qualcomm about 1% undervalued at current prices, combining a more conservative DCF with higher relative multiples. [43]
These models are highly sensitive to assumptions about AI adoption, automotive revenue and long‑term margins. They’re useful reference points, but not destiny.
Algorithmic and technical forecasts: very mixed signals
Short‑term algorithmic models send conflicting messages:
- CoinCodex’s technical model:
- Sees a bullish overall signal with most indicators positive.
- Projects a narrow trading band over the next five days, with prices largely between about $172 and $176, implying low‑single‑digit swings around today’s levels. [44]
- Longer term, its purely quantitative model actually projects a sharp decline over the next year, with a one‑year forecast near $112.68 (-35% vs. today) and a 2030 target under $100 — an extremely cautious path compared with human analysts. [45]
- Intellectia.ai:
- A “similar chart” analysis currently flags a potential one‑month drop of about 37% based on pattern matching with another stock (KRNT).
- Yet the same platform’s longer‑term scenario forecasts an average price around $186 in December 2026 and about $307 in 2030, and rates Qualcomm a “Strong Buy” on its composite technical score. [46]
Taken together, these algorithmic forecasts show how volatile model‑driven predictions can be. They’re interesting for short‑term traders, but shouldn’t be mistaken for guarantees.
Important: Forecasts — whether from Wall Street analysts, DCF models, or AI algorithms — are speculative and can be wrong. None of them should be used as a sole basis for investment decisions.
Key drivers and risks for Qualcomm investors in 2026
Bullish drivers
- AI data‑center push
- AI200/AI250 and related racks open the door to high‑margin inference workloads, especially if Qualcomm can win more customers like HUMAIN. [47]
- AI PCs and premium smartphones
- Snapdragon X‑series chips and the Snapdragon 8 Elite platform keep Qualcomm at the center of on‑device AI, which could raise ASPs and deepen moat effects in devices. [48]
- Automotive and IoT scale‑up
- Healthy balance sheet and cash return
- Strong free cash flow and a 2% dividend yield, plus continued buybacks, provide a cushion if growth moderates. [51]
- Valuation vs AI peers
- Even after the run‑up, Qualcomm trades at a lower multiple than many AI‑exposed semiconductor names, leaving room for multiple expansion if execution remains strong. [52]
Bearish risks
- AI “loser” narrative and competitive pressure
- Wedbush’s “AI loser” label highlights the risk that investors decide Qualcomm will capture only a small share of AI economics, compared with Nvidia or AMD. [53]
- If data‑center wins or AI PC share disappoint, the stock could de‑rate.
- China exposure and regulation
- Roughly 40–50% of revenue is tied to Chinese OEMs and customers, by some estimates, magnifying trade, licensing and regulatory risks. [54]
- The Autotalks probe is a reminder that even smaller deals can trigger scrutiny.
- Smartphone and PC cyclicality
- Despite diversification, Qualcomm is still heavily exposed to global handset demand and Windows PC cycles. A macro slowdown or weaker device upgrade cycle would be felt in QCT. [55]
- Execution on Alphawave integration
- The Alphawave deal, if completed, must be integrated cleanly to deliver the promised AI networking synergy. M&A execution is a non‑trivial risk. [56]
- Model risk in valuations and forecasts
- DCF and algorithmic forecasts rely on aggressive long‑term assumptions about AI growth, margins and discount rates. If those assumptions prove optimistic, even a fundamentally solid company can see its share price lag.
Bottom line: how to think about Qualcomm stock after the latest news
As of December 8, 2025, Qualcomm sits at an interesting crossroads:
- Fundamentally, the story is stronger than it has been in years: record QCT revenue, accelerating automotive and IoT businesses, a credible AI PC roadmap and a serious move into data‑center inference. [57]
- Strategically, Qualcomm is repositioning from a smartphone‑centric vendor to an edge‑to‑cloud AI and connectivity platform — with acquisitions (Alphawave, Autotalks, Arduino) and new chips to match. [58]
- Financially, the stock is not a deep value play, but most mainstream analysts still see modest upside, backed by rising earnings estimates and several DCF models that point to undervaluation. [59]
- Narratively, Qualcomm is caught between two camps: AI bulls who see it as an under‑appreciated beneficiary of edge and inference AI, and skeptics like Wedbush who worry it will be an “AI loser” relative to Nvidia and other infrastructure leaders. [60]
For potential or current investors, the key questions over the next 12–24 months are:
- Can Qualcomm convert AI data‑center announcements into material, recurring revenue?
- Will AI PCs and premium Android devices keep growing fast enough to offset any handset or PC macro softness?
- Can the company manage regulatory risk in China while integrating Alphawave and Autotalks smoothly?
If the answers trend positive, today’s mid‑$170s price could prove to be a reasonable entry point for long‑term holders. If not, Wedbush’s “AI loser” tag may end up looking prescient.
Either way, Qualcomm has moved beyond being “just a phone chip stock” — and that evolution, for better or worse, is what will drive QCOM in 2026 and beyond.
Disclaimer: This article is for information and education only and does not constitute financial, investment or trading advice. Always do your own research and consider consulting a licensed financial professional before making investment decisions.
References
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