Agent-Driven Future Of AI Across Devices<\/p>\n
Amon added that AI agents will require significant Central Processing Unit (CPU) resources to run across devices, creating an opportunity for agent-driven devices that will drive an upgrade cycle for both companies and consumers.<\/p>\n
He said that all the AI companies see end-consumer devices as the endpoints for AI and agents.<\/p>\n
\u201cAs you\u2019d expect, we\u2019re working with all of them as they all think of personal AI devices, new categories of devices, what are phones going to look like\u2026 we\u2019re working with all of those companies,\u201d Amon added.<\/p>\n
He also touted Qualcomm as having one of the best CPUs in the world for data centers, and that the company is building data center capabilities through custom chips and inference accelerators.<\/p>\n
Amon stated that the rise of AI agents is reshaping the roadmap for every platform Qualcomm is developing, and added that an initial shipment of custom silicon chips to a leading hyperscaler is on track for later this year.<\/p>\n
Wall Street Turns Bullish<\/p>\n
According to TheFly, analysts at Cantor Fitzgerald raised their price target on Qualcomm to $150 from $135 while maintaining a \u2018Neutral\u2019 rating on the stock. The firm highlighted Qualcomm\u2019s custom silicon win with a large hyperscaler, as well as its expectation that handset demand will bottom out in the third quarter (Q3), as reasons for its optimism.<\/p>\n
RBC Capital analysts echoed similar sentiments while hiking the price target to $175 from $150, with a \u2018Sector Perform\u2019 rating on the QCOM stock.<\/p>\n
Qualcomm reported earnings per share (EPS) of $2.65 on revenue of $10.6 billion in the second quarter (Q2), compared to Wall Street estimates of an EPS of $2.58 on revenue of $10.56 billion, according to Fiscal.ai data.<\/p>\n
The company reported EPS of $2.85 on revenue of $10.84 billion during the same period a year ago.<\/p>\n
How Did Retail Traders React?<\/p>\n
Retail sentiment on Stocktwits around\u00a0Qualcomm<\/a> trended in the \u2018extremely bullish\u2019 territory, with message volumes at \u2018extremely high\u2019 levels at the time of writing.<\/p>\n One user stated that the custom silicon story is finally getting priced into the QCOM stock.<\/p>\n Another bullish user stated that Qualcomm is the best AI chip play now.<\/p>\n QCOM stock<\/a> is up 6% year-to-date and 22% over the past 12 months. The S&P 500 ETF (SPY) is up 29% over the past 12 months, while the Invesco QQQ Trust ETF (QQQ) is up 40%.<\/p>\n The Vanguard S&P 500 ETF (VOO) and the iShares Core S&P 500 ETF (IVV) are up 29% during this period.<\/p>\n Also See:\u00a0Wall Street Expects SanDisk\u2019s Q3 Revenue To Surge 178% \u2014 Wedbush Hikes SNDK Stock Price Target By 62%<\/a><\/p>\n For updates and corrections, email newsroom[at]stocktwits[dot]com.<\/p>\n
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