Qualcomm Just Nearly Doubled Its Most Important Growth Target, Confirming Its Place as a Key AI Stock

Qualcomm (NASDAQ: QCOM) has spent years trying to convince investors it can be more than a smartphone-chip company. At its investor day on Wednesday, it made its boldest case yet. The company nearly doubled its target for non-handset revenue in fiscal 2029, raising the goal to about $40 billion from $22 billion. And for the first time, it put hard numbers behind its data center ambitions, calling for more than $15 billion in data center revenue by that same year. Investors liked what they heard, and shares jumped sharply on the news, rising as much as 15%.The figures are bold for a company whose chips still sit mostly inside phones. But raising a target is the easy part. The harder question is whether Qualcomm, a relative latecomer to the data center, can build a business of this size in a market that Nvidia already dominates.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool