Can Qualcomm Inc. (QCOM) Take on the Hyper-Competitive AI Market?

Qualcomm Incorporated (NASDAQ:QCOM) is one of the 10 Best AI Chip Stocks to Buy for the Long Term. In the past year, Qualcomm’s stock surged 31.10%, while it registered a 18.01% year-to-date rise.

A Qualcomm employee on the job. Photo from Qualcomm website

On June 23, TheFly reported that BofA increased its price target on Qualcomm to $195 from $165 while maintaining an Underperform rating on the shares ahead of the company’s investor day on Wednesday, June 24. The analyst kept its Underperform rating on the stock as it believes the company is re-entering a fast-growing but hyper-competitive AI market.

Earlier on June 17, Qualcomm announced that its subsidiary Qualcomm Technologies Inc. launched the Snapdragon Scalable Turnkey AI-Ready Toolkit (START) to support brands in bringing their own personal AI devices to market, beginning with smart glasses.

Qualcomm explained that the toolkit combines modules with an AI-agnostic full software stack and a network of manufacturing partners that allow organizations to focus on developing new, unique user experiences and a go‑to‑market strategy for faster deployment of their personal AI devices. Global eyewear company Inspecs is the first to collaborate with Qualcomm Technologies under the program, as it eyes bringing smart glasses to market across multiple eyewear brands.

On June 15, The Information reported that Qualcomm is in talks for the acquisition of AI chip design startup Tenstorrent for a transaction valued at $8 billion to $10 billion, citing sources with direct knowledge of the matter.

Qualcomm Incorporated (NASDAQ:QCOM) is a global computing company that develops platforms and solutions that bring together advanced AI, high‑performance, low-power computing, and industry‑leading connectivity.

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