Loop Capital Upgrades Qualcomm to Buy, Sees 32% Upside
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 24 2026
0mins
Should l Buy QCOM?
Source: CNBC
- Rating Upgrade: Loop Capital has upgraded Qualcomm's rating from hold to buy, with analyst Gary Mobley raising the price target from $140 to $185, indicating a potential upside of 32%, which is expected to boost investor confidence.
- Stock Performance: Despite Qualcomm's shares declining by 13% over the past year and plummeting 18% this year, the analyst believes that a market recovery could lead to a rebound in stock prices, particularly as memory chip shortages ease.
- Revenue Diversification: Mobley anticipates that Qualcomm will showcase progress in its non-smartphone revenue growth and provide insights into its data center roadmap during the upcoming analyst day, with this revenue diversification being crucial for a stock price re-rating.
- Future Outlook: The analyst predicts that Qualcomm's sales to Samsung will stabilize, while chip shipments to Apple will drop below 10% of total revenue, suggesting that the market has partially priced in the decline in sales to Apple; by fiscal 2029, automotive and IoT businesses are expected to rival or surpass handset sales, marking a significant milestone in the company's diversification strategy.
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Analyst Views on QCOM
Wall Street analysts forecast QCOM stock price to rise
16 Analyst Rating
10 Buy
5 Hold
1 Sell
Moderate Buy
Current: 127.280
Low
165.00
Averages
197.14
High
225.00
Current: 127.280
Low
165.00
Averages
197.14
High
225.00
About QCOM
Qualcomm Incorporated is engaged in the development and commercialization of foundational technologies for the wireless industry, including third generation (3G), fourth generation (4G) and fifth generation (5G) wireless connectivity, and high-performance and low-power computing, including on-device artificial intelligence. Its segments include Qualcomm CDMA Technologies (QCT), Qualcomm Technology Licensing (QTL) and Qualcomm Strategic Initiatives. QCT develops and supplies integrated circuits and system software based on 3G/4G/5G and other technologies, including radio frequency front-end, digital cockpit and advanced driver assistance and automated driving, Internet of things including consumer electronic devices, industrial devices and edge networking products. QTL grants licenses or otherwise provides rights to use portions of its intellectual property portfolio that includes certain patent rights essential to and/or useful in the manufacture and sale of certain wireless products.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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