On June 25, Qualcomm surged 10.79% in regular trading, reaching $212.36 per share with turnover of $1.144 billion. The rally was driven by the company's Investor Day in New York, where it dramatically raised long-term financial targets and secured major customer commitments.

Qualcomm doubled its fiscal 2029 non-handset revenue target to $40 billion from $22 billion, set a data center AI revenue goal exceeding $15 billion, and raised its automotive revenue target to $10 billion with its design-win pipeline expanding to $65 billion. The company also targets non-GAAP EPS of over $18 by fiscal 2029, well above the analyst consensus of $15.26. Qualcomm unveiled the Dragonfly C1000 data center CPU and AI300 inference accelerator, with Meta confirming multi-generation deployment starting 2028 and Microsoft Azure adopting its high-bandwidth compute chips.

Multiple analysts raised price targets: Morgan Stanley upgraded from Underweight to Equalweight with a target of $231, Benchmark raised to $300, RBC to $250, and Citi to $198. The CFO stated Qualcomm targets $5 billion in AI data center revenue by fiscal 2027 and sees opportunities to scale annual revenue to $100 billion.

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