Inside Qualcomm's AI Strategy: Opportunities, risks & outlook

Qualcomm has doubled its long-term non-handset revenue target to 40 billion dollars by fiscal 2029, with data center business expected to contribute over 15 billion dollars. The company is repositioning as an AI infrastructure player, focusing on AI inference chips, automotive, edge computing, and data center processors to reduce dependence on smartphones. Bank of America raised its price target to 220 dollars from 195 dollars but retained an Underperform rating, citing execution risks and competition from Nvidia and AMD.