J.P. Morgan analyst Samik Chatterjee has maintained their bullish stance on QCOM stock, giving a Buy rating on November 7.
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Samik Chatterjee has given his Buy rating due to a combination of factors that highlight Qualcomm’s strategic positioning and growth potential. Qualcomm’s diversification efforts, particularly in the Automotive and IoT sectors, have shown impressive growth, with a compound annual growth rate exceeding 20% over the past five years. This diversification, coupled with the increasing integration of AI across various markets and a promising opportunity in the datacenter sector, suggests that Qualcomm’s growth in these adjacent markets is poised to accelerate beyond historical trends.
Qualcomm’s datacenter strategy, which focuses on addressing power and memory challenges, is expected to yield significant revenue opportunities starting in fiscal year 2027. The company’s AI 200 and AI 250 products are designed to tackle these challenges, offering power-efficient performance and addressing memory bandwidth constraints. Additionally, Qualcomm’s strong presence in the Edge market and its ability to leverage innovation in high bandwidth access further enhance its growth prospects. These factors, along with better-than-expected design wins in the automotive sector and expansion in the PC market, contribute to the positive outlook and support the Buy rating.
According to TipRanks, Chatterjee is a 5-star analyst with an average return of 16.0% and a 68.83% success rate. Chatterjee covers the Technology sector, focusing on stocks such as Apple, Amphenol, and Corning.
In another report released on November 7, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $199.00 price target.