Qualcomm Stock (QCOM) Today: AI Chips, Institutional Buying and 2026 Outlook

Qualcomm’s share price is hovering around $174–175 on December 9, 2025, leaving the chipmaker near the upper half of its 52‑week range as investors digest record earnings, a fresh wave of AI chip announcements, and new institutional ownership disclosures. ^[1]

At the same time, the technical picture is flashing both bullish and cautious signals, while Wall Street analysts are updating price targets and debating how far Qualcomm’s AI, automotive and data center bets can carry earnings into 2026.

Note: This article is for information and news purposes only and does not constitute investment advice.

Key Takeaways for Qualcomm Stock (QCOM)

Price & valuation: QCOM trades near $174.7 with a market cap around $188 billion, a trailing P/E near 36 and a 52‑week range of $120.80–$205.95. ^[2]
Earnings momentum: Q4 FY 2025 revenue grew ~10% year over year to $11.27B, with non‑GAAP EPS of $3.00, ahead of expectations. ^[3]
Guidance: Management guides Q1 FY 2026 revenue to $11.8–$12.6B and EPS of $3.30–$3.50, again above prior consensus. ^[4]
AI & diversification: Qualcomm is ramping AI smartphones, AI PCs, automotive and IoT, plus launching data center AI chips with a revenue ramp expected from fiscal 2027. ^[5]
Shareholder returns: The company pays a $0.89 quarterly dividend (≈2.0% yield at current prices) and continues share buybacks. ^[6]
Sentiment today: New data show State Street raising its stake, strong institutional ownership, a “Moderate Buy” average rating, but also at least one fresh downgrade to Hold and chart patterns that imply possible volatility between roughly $160 and $185. ^[7]

Qualcomm Stock Price Today (December 9, 2025)

As of late trading on December 9, 2025, Qualcomm:

Last price: about $174.7 per share, down roughly 0.3% on the day
Intraday range: approximately $172.45–$175.00
Market capitalization: around $188 billion ^[8]
52‑week range:$120.80 (low) to $205.95 (high) ^[9]
Valuation: P/E around 35.9, PEG about 3.8, beta ≈ 1.22 (meaning somewhat higher volatility than the overall market) ^[10]

From a trend standpoint, MarketBeat notes that QCOM is trading above both its 50‑day and 200‑day moving averages (about $169.8 and $161.4 respectively), typically a sign of medium‑term strength. ^[11]

What’s Moving Qualcomm Stock Right Now?

1. Institutional Buying Led by State Street

A new December 9, 2025 filing shows State Street Corp increased its Q2 holdings of Qualcomm by 0.8% to 53.7 million shares, now owning about 4.97% of the company—roughly $8.55 billion worth at the time of the filing. ^[12]

MarketBeat’s summary of institutional activity indicates that:

Roughly 74%+ of Qualcomm stock is held by institutional investors. ^[13]
Multiple asset managers (e.g., Guinness Asset Management, Russell Investments) have added to positions during 2025, while others have trimmed, consistent with normal portfolio rotation. ^[14]

Alternative‑data platform QuiverQuant simultaneously reports that over the last quarter, more than 1,200 institutional investors added shares, while about 1,400 reduced positions, underscoring how actively QCOM is traded in large portfolios. ^[15]

2. Mixed Technical Signals: Bullish Trend vs. Potential Pullback

A TradingView/Invezz analysis published today says Qualcomm’s share price has rebounded from about $118.80 in April to roughly $175, forming an ascending price channel and holding above its 50‑ and 100‑day exponential moving averages—a bullish configuration. ^[16]

However, the same report flags a head‑and‑shoulders pattern, a classic bearish reversal signal. In that scenario, the author suggests:

Upside: continuation of the trend could push toward roughly $185
Downside risk: a breakdown could send the stock back toward $160 ^[17]

For short‑term traders in Qualcomm stock, that implies a wide trading band and the potential for sharp swings as earnings expectations or macro conditions change.

3. Fresh Commentary: “Is Qualcomm Stock a Buying Opportunity for 2026?”

On December 9, The Motley Fool published a new piece titled “Is Qualcomm Stock a Buying Opportunity for 2026?”, highlighting investor debate around whether QCOM remains attractive after its big AI‑driven run. ^[18]

While the full analysis is paywalled, the article:

Puts Qualcomm squarely in the AI and semiconductor growth narrative alongside larger names
Notes that Motley Fool services themselves hold and recommend Qualcomm, signaling a generally constructive long‑term stance on the company ^[19]

This kind of retail‑investor‑oriented coverage tends to keep QCOM visible on platforms like Google News and Discover, especially as AI investing remains a hot theme.

4. Social Buzz Around AI Chip Launches

QuiverQuant’s news summary for December 9 points to intense social‑media chatter (especially on X) focused on Qualcomm’s new AI chips:

Many users are excited about AI data center chips and on‑device AI capabilities aimed at competing with Nvidia and AMD.
Others are more cautious, worrying that the AI hype could be ahead of near‑term revenue. ^[20]

The same report notes that:

Qualcomm’s Q4 2025 revenue of about $11.3B represented a 10% year‑over‑year increase, consistent with the formal earnings release. ^[21]
Analysts tracked by QuiverQuant have issued only Buy‑style ratings recently, with a median 12‑month price target around $200 and target range of $165–$225. ^[22]

5. Analyst Ratings: Mostly Positive, With a New Hold

MarketBeat aggregates 21 analyst ratings on Qualcomm:

13 Buy
7 Hold
1 Sell
Average target price: about $191 ^[23]

A new note today cited by MarketBeat indicates that Wall Street Zen has downgraded Qualcomm from “Buy” to “Hold,” reflecting the view that a substantial portion of the near‑term upside may already be priced in after the stock’s strong 2025 rally. ^[24]

So while the overall consensus remains “Moderate Buy,” investors should recognize that not all analysts think Qualcomm is a slam‑dunk at current levels.

6. Regulatory Filings Hint at Active Derivative Positions

Two separate Form 8.5 filings released today show Goldman Sachs entities adjusting derivative positions in Qualcomm—both cash equities and CFDs—reflecting active hedging and trading in the name. ^[25]

Meanwhile, a Form 8.3 from LMR Partners LLP discloses a position representing at least 1% of Qualcomm’s relevant securities, again underscoring QCOM’s status as a heavily trafficked institutional stock. ^[26]

These filings don’t themselves imply bullish or bearish calls, but they confirm ongoing interest from sophisticated players.

Earnings Pulse: Qualcomm’s Q4 2025 and Guidance

Q4 FY 2025 Scorecard

For the quarter ended September 28, 2025, Qualcomm reported: ^[27]

Revenue:$11.27B, up roughly 10% year over year and ahead of consensus around $10.7–$10.8B
Non‑GAAP EPS:$3.00, topping expectations (~$2.87)
GAAP EPS: a loss of about $2.89 per share, driven by a $5.7B non‑cash tax charge related to changes in U.S. tax legislation and deferred tax assets, not a deterioration in the underlying business
QCT (chip) revenue: roughly $9.82B, growing about 13% YoY, with renewed strength in premium Android smartphones
QTL (licensing) revenue: about $1.41B, down mid‑single digits year over year, reflecting normal royalty dynamics

Management highlighted that non‑Apple revenues across segments grew about 18%, while combined Automotive and IoT revenue grew roughly 27% for the fiscal year—evidence that diversification beyond handsets is gaining traction. ^[28]

Guidance: Q1 FY 2026 and Beyond

For Q1 FY 2026, Qualcomm expects: ^[29]

Revenue:$11.8B–$12.6B
Non‑GAAP EPS:$3.30–$3.50
QCT revenue:$10.3B–$10.9B, with record handset revenue anticipated and “low‑teens” sequential growth
QTL revenue:$1.4B–$1.6B, with very high margins (mid‑70% EBT margin guided)

Reuters notes that these midpoints—around $12.2B revenue and $3.40 EPS—are above Wall Street estimates, reflecting continuing momentum in premium smartphones and AI‑enabled devices. ^[30]

AlphaSense’s earnings summary adds that Qualcomm forecasts full‑year revenue and non‑GAAP EPS growth of roughly 12–16%, and expects its new data center AI products to start meaningfully contributing to revenue by fiscal 2027, earlier than previously thought. ^[31]

AI Strategy: Smartphones, PCs and Data Centers

AI at the Edge: Snapdragon 8 Elite and AI PCs

At the Snapdragon Summit 2025, Qualcomm sketched an AI‑first product roadmap: ^[32]

Snapdragon 8 Elite Gen 5: the latest flagship smartphone SoC, positioned as Qualcomm’s third generation of on‑device generative AI capabilities
Snapdragon X2: second‑generation AI PC platform, following this year’s widely watched Snapdragon X Elite launch

A recent AI processor market report notes that Snapdragon X Elite’s NPU can reach around 45 TOPS (trillions of operations per second), targeting AI‑capable Windows laptops, and cites Canalys forecasts of around 48 million AI PCs shipped in 2024, with further growth ahead. ^[33]

If these AI PCs take off, Qualcomm could become one of the primary ARM‑based challengers to x86 incumbents in the Windows ecosystem—an important upside lever not tied to smartphones.

Data Center AI: New Chips and Hyperscaler Talks

Qualcomm isn’t just pushing AI to the edge. It has also:

Announced AI inference data center chips, including new SoCs and accelerator cards, with Humain (an AI firm backed by Saudi Arabia’s sovereign wealth fund) disclosed as a flagship customer. ^[34]
Told investors it’s in discussions with at least one large hyperscale cloud company to supply those chips, according to a Reuters interview with CEO Cristiano Amon. ^[35]

Management now expects data center AI products to begin driving a meaningful revenue ramp in fiscal 2027, suggesting that today’s R&D and small deployments may translate into multi‑billion‑dollar revenue in a few years. ^[36]

M&A to Bolster AI and Connectivity

Qualcomm has been acquisitive in 2025:

Alphawave: agreed acquisition for about $2.4B, strengthening high‑speed interconnect and data center connectivity IP. ^[37]
Autotalks: a V2X specialist acquired to accelerate automotive safety and vehicle‑to‑everything deployments. ^[38]
VinAI’s generative AI division and Arduino: deals aimed at enriching Qualcomm’s edge AI software ecosystem and reaching millions of developers. ^[39]

These moves reinforce the narrative that Qualcomm is broadening from a mobile chip designer into a diversified AI and connectivity platform company.

Automotive and IoT: The Quiet Growth Engine

Analyst commentary highlights Qualcomm’s Automotive and IoT segments as increasingly important:

Automotive revenue recently reached around $1B in a single quarter, growing more than 20% year over year, driven by Snapdragon Digital Chassis wins across major automakers. ^[40]
IoT (including industrial, consumer, XR and smart devices) has also posted double‑digit growth, contributing to the 27% combined Automotive + IoT revenue expansion in FY 2025. ^[41]

Management has reiterated a long‑term target of $22B in combined Automotive and IoT revenue by fiscal 2029, a huge step up from current levels and a key pillar of Qualcomm’s diversification story. ^[42]

For shareholders, that means Qualcomm’s fortunes are less tied solely to smartphone unit growth and more aligned with long‑cycle secular trends like:

Connected and software‑defined vehicles
Industrial automation and smart factories
Extended reality (XR) and smart glasses
Smart home and smart city infrastructure

Dividend, Balance Sheet and Shareholder Returns

Qualcomm continues to position itself as a growth + income play rather than a pure growth stock.

Dividend

Quarterly dividend:$0.89 per share
Next payment date:December 18, 2025, for shareholders of record on December 4, 2025 ^[43]
Annualized dividend:$3.56 per share
Implied yield: roughly 2.0% at today’s price near $175 ^[44]

MarketBeat calculates a dividend payout ratio near 73% of trailing earnings, which is elevated but still manageable given Qualcomm’s robust cash generation and growth expectations. ^[45]

Cash Flows, Buybacks and Balance Sheet

Recent coverage notes that Qualcomm: ^[46]

Generated healthy operating income (~$2.9B in Q4) despite the GAAP tax charge
Returned around $3.4B to shareholders via dividends and buybacks in the latest quarter
Maintains a current ratio around 2.8 and quick ratio about 2.1, with a debt‑to‑equity ratio near 0.7, giving it flexibility for further M&A and R&D investments

This combination of cash returns and ongoing investment is part of why many analysts view Qualcomm as a core AI/5G infrastructure holding rather than a speculative play.

Valuation, Analyst Targets and Stock Forecasts

Traditional Valuation Metrics

At roughly $174–175 per share, Qualcomm trades at: ^[47]

P/E: ~35.9
PEG: ~3.8 (suggesting the market is paying a premium for projected growth)
Price vs. range: closer to the upper half of its 52‑week band ($120.80–$205.95)

Given consensus forecasts for about $9.4 in EPS for the current fiscal year, the forward P/E is meaningfully lower than the trailing figure but still implies that investors are pricing in continued double‑digit earnings growth. ^[48]

Street Price Targets

Two key data sources highlight how the Street is thinking about Qualcomm:

MarketBeat
- Average target: around $191
- Ratings mix: 13 Buy, 7 Hold, 1 Sell (Moderate Buy) ^[49]
QuiverQuant (last six months)
- Median target:$200
- Recent targets include:
  - $225 (Rosenblatt)
  - $215 (BofA Securities)
  - $210 (JPMorgan)
  - $165 (Wells Fargo) ^[50]

Taken together, the Street’s central case points to modest upside from current levels over 12 months, but also a wide dispersion of views, reflecting debate about:

The pace of AI PC and data center adoption
The durability of premium smartphone demand
How quickly Automotive and IoT can scale toward 2029 targets

Key Risks to Watch for Qualcomm in 2026

Despite strong fundamentals and AI momentum, Qualcomm shareholders face several important risks:

Smartphone Cycle and OEM Concentration
- Premium handset demand has rebounded, but growth could slow if the global economy weakens or upgrade cycles lengthen again. ^[51]
- Qualcomm still depends heavily on a few large OEMs (Apple, Samsung, Xiaomi), each accounting for more than 10% of revenue. ^[52]
Samsung Modem Share Loss
- CEO Cristiano Amon told Reuters that Qualcomm expects its modem share in Samsung’s Galaxy S26 to drop from 100% to about 75%, which could trim future handset revenue growth if not offset by other wins. ^[53]
AI Competition
- In data centers, Qualcomm will face giants like Nvidia, AMD, and Intel.
- In AI PCs, Microsoft’s ecosystem decisions and how PC makers position ARM vs. x86 will be critical. ^[54]
Execution on Acquisitions and Roadmaps
- Integrating Alphawave, Arduino and other acquisitions while hitting aggressive product and revenue milestones in data center and automotive is non‑trivial. ^[55]
Regulation, Litigation and IP
- Qualcomm still operates in a complex regulatory and licensing environment; recent years have seen antitrust and IP disputes that can impact costs and licensing revenue. ^[56]
Valuation and Technical Risk
- With the stock now well above its April lows and trading at a premium multiple, even small disappointments in AI adoption or macro data could trigger pullbacks—especially given chart patterns that suggest potential downside toward $160. ^[57]

Bottom Line: How Qualcomm Looks Heading Into 2026

As of December 9, 2025, the Qualcomm story looks something like this:

Fundamentals: solid double‑digit revenue and EPS growth, with Q4 2025 beating expectations and Q1 2026 guidance signaling continued strength. ^[58]
Strategy: a credible multi‑year roadmap across AI smartphones, AI PCs, automotive, IoT and data center AI, reinforced by targeted acquisitions and partnerships. ^[59]
Shareholder appeal: a 2% dividend yield, ongoing buybacks, and strong institutional ownership. ^[60]
Sentiment: mostly positive among analysts and institutions, but with a growing recognition that the stock is no longer cheap and may be entering a more two‑sided, volatile phase as investors debate how much AI growth is priced in. ^[61]

For readers following Qualcomm on Google News or Discover, the key narrative to watch into 2026 is whether the company can convert its broad AI, automotive and IoT pipeline into sustained earnings growth fast enough to justify today’s valuation—and whether new AI data center wins with hyperscalers will materialize at the pace management is signaling. ^[62]

Disclaimer

This article is not investment advice or a recommendation to buy, sell, or hold any security. Always perform your own research and consider consulting a licensed financial adviser before making investment decisions.

References

Qualcomm Stock (QCOM) Today: AI Chips, Institutional Buying and 2026 Outlook – December 9, 2025