Qualcomm Stock Jumps After Daiwa Upgrade to Outperform
Shares of QCOM moved sharply higher on Friday morning after Daiwa Securities analyst Louis Miscioscia upgraded the semiconductor company from “Neutral” to “Outperform” and assigned a $225 price target.
The bullish analyst call came after Qualcomm shares closed Thursday at $202.50. In pre-market trading, the stock climbed another 5.6%, extending its strong momentum. Over the last 30 days, Qualcomm stock has surged more than 60%, making it one of the strongest-performing semiconductor names during the recent market rally.
Daiwa Sees Potential Valuation Re-Rating
In the research report, Daiwa raised the question of whether Qualcomm could become the next semiconductor company to experience a significant price-to-earnings multiple expansion, similar to what investors have seen with ARM.
The analyst highlighted Qualcomm’s upcoming investor day as a potentially important catalyst for the stock. The event is expected to showcase growth opportunities in several major technology sectors, including data center CPUs, physical computing, and edge artificial intelligence applications.
Focus Remains on Long-Term Growth
Although Qualcomm’s fiscal third-quarter 2026 guidance came in below Wall Street expectations, Daiwa believes investors should pay closer attention to the company’s long-term growth outlook rather than near-term weakness.
Miscioscia pointed to Qualcomm’s expanding revenue opportunities and relatively modest valuation as key reasons behind the upgrade to “Outperform.” The analyst also reiterated the new $225 price target, signaling further upside potential for the semiconductor giant.
