NEW YORK, June 9, 2026, 05:05 (EDT)
- Qualcomm traded at $225.00 before the bell, up 3.3% from its $217.77 close on Monday.
- Nvidia CEO Jensen Huang’s public praise of Qualcomm set off the move, as investors also looked ahead to the company’s investor day on June 24.
- J.P. Morgan bumped its Qualcomm price target to $265, up from $160, and kept its Neutral rating.
Qualcomm shares were up in early U.S. premarket trading Tuesday, building on gains from late Monday. Nvidia CEO Jensen Huang praised the mobile-chip maker, and investors renewed interest in Qualcomm’s efforts in AI and data-center chips.
Qualcomm shares on the Nasdaq traded at $225.00 as of 4:49 a.m. EDT, a gain of 3.3% from the previous close. The stock finished Monday at $217.77, up 0.85%. During the session, shares moved between $214.63 and $221.93.
Why now? Qualcomm’s stock is in focus as investors weigh if the company can get credit for businesses outside its main handset segment. This comes as chip stocks look to rebound after a tough slide, with AI names leading gains ahead of the open.
Qualcomm shares gained 2% in after-hours trading after Nvidia CEO Jensen Huang backed the stock, Investing.com reported. Huang told investors to buy Qualcomm, saying Nvidia didn’t need to excel in mobile devices because Qualcomm was already “doing such a good job.” Investing.com
Chip names bounced with the market. S&P 500 futures rose 0.9% and Nasdaq 100 futures added 1.9% ahead of the bell, according to Investing.com. Nvidia, Broadcom and Micron traded higher, too. The move in chips gave Qualcomm a lift after Friday’s selloff in the sector.
J.P. Morgan’s Samik Chatterjee moved Qualcomm onto the catalyst list, maintaining a Neutral rating but upping his price target to $265 from $160. Chatterjee said the June 24 investor day could point to a bigger diversification plan focused on data centers, automotive, and Internet of Things, or connected devices for homes, factories and cars.
Qualcomm could go after over $3 billion in data-center sales in fiscal 2027 and see that reach $35 billion by fiscal 2031, according to Chatterjee, Benzinga said. The bullish scenario is no longer just about smartphones; now it’s custom chips, AI accelerators, and car tech.
Qualcomm is telling investors to pay attention to its custom-silicon push. CEO Cristiano Amon said in April that a “leading hyperscaler” project is set for first shipments later this year. Hyperscalers are big cloud firms that buy chips and servers in bulk. SEC
Qualcomm CFO Akash Palkhiwala told a J.P. Morgan conference in May that revenue from a hyperscaler deal is expected to begin coming in later this year and described the potential as “very material” by 2027. Palkhiwala said Qualcomm is focused on three areas in the data-center market: custom silicon, CPUs, and AI accelerators targeting AI workloads. Q4 Capital
Palkhiwala said Broadcom and Marvell are the main custom-silicon rivals. He said Qualcomm’s scale and its Alphawave business set it up as a real option for customers who want a second big supplier. The competitive set, he said, is not soft.
Qualcomm put out a new edge-AI case in the past 24 hours, moving away from the usual data-center focus. San Diego Gas & Electric, Qualcomm Technologies and UC San Diego together launched Edge Alert Sentinel, a system built to handle wildfire and extreme-weather data right at the source instead of far-off data centers.
The market seems quick to price in big plans, but revenue isn’t keeping pace yet. Qualcomm’s handset revenue fell 13% from a year ago last quarter, while automotive jumped 38% and IoT picked up 9%. For the third quarter, Qualcomm guided revenue between $9.2 billion and $10.0 billion and pointed to memory supply constraints hitting handset demand for several customers.
Tuesday’s move could come undone if the June investor day doesn’t deliver customer names, margin details, or shipment dates. Qualcomm’s data-center pitch is drawing more eyes. Now the stock has to prove itself.
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