Qualcomm Stock Forecast: QCOM Jumps 13% After-Hours as $40B AI Revenue Target Stuns Wall Street

Qualcomm Inc. (NASDAQ: QCOM) closed Wednesday at $197.32, down 3.33%, before surging in after-hours trading to $222.97, up roughly 13%. The sharp reversal came after Qualcomm laid out a much bigger growth target for its non-handset businesses and unveiled a deeper push into AI data-center chips.

The company said it now expects $40 billion in non-handset revenue by fiscal 2029, almost double its prior projection of $22 billion. Qualcomm also guided for $15 billion in data-center sales by 2029, signaling a more aggressive attempt to diversify beyond smartphones.

Qualcomm’s AI Data-Center Push Gets Serious

At its investor presentation, Qualcomm revealed the Dragonfly C1000, a data-center CPU designed for agentic AI workloads. The company said Meta will use the chip when it enters production in 2028.

That announcement matters because Qualcomm is trying to position itself as a power-efficient alternative in AI infrastructure. Management is betting that its experience in low-power mobile and PC chips can translate into data centers, where energy costs are becoming a major constraint.

Qualcomm also announced plans to acquire Modular, an AI software infrastructure company. The deal strengthens Qualcomm’s software stack and supports its goal of building a more open developer ecosystem across CPUs, GPUs, NPUs, and custom AI silicon.

Why QCOM Stock Popped 13% After Hours

The market reaction was driven by the scale of Qualcomm’s updated targets. A $40 billion non-handset revenue goal gives investors a clearer path for growth beyond smartphones, where demand has matured.

The company also raised its automotive design-win pipeline to $65 billion and set a $10 billion automotive revenue target for fiscal 2029. Combined with the data-center roadmap, Qualcomm is now framing itself as a broader AI, automotive, edge, and cloud-compute platform.

That is a major narrative shift for a stock long viewed as heavily tied to handset cycles.

QCOM Technical Analysis: After-Hours Gap Tests Key Resistance

Qualcomm’s daily chart was weak into the close, but the after-hours jump changes the near-term setup.

QCOM closed at $197.32, below several major short-term moving averages, including the 10-day EMA at $212.30, 10-day SMA at $210.33, 20-day EMA at $213.69, 30-day EMA at $209.76, and Hull MA at $210.42. That made the daily chart bearish before the investor-day update.

However, the after-hours move to $222.97 puts QCOM back above the $210-$214 moving-average cluster and near the next resistance zone. The stock is now testing the 20-day SMA at $221.63, VWMA at $221.96, and the Ichimoku Base Line at $225.01.

Momentum indicators remain mixed. The RSI at 44.68 is neutral, while the MACD at 1.50, Awesome Oscillator at -5.29, and ADX at 21.07 still flash sell signals. Momentum at -8.01 shows a buy signal, suggesting the rebound may be early but not yet fully confirmed.

Key levels to watch:

• Resistance: $221.63, $221.96, $225.01, $230.00
• Support: $213.69, $212.30, $210.42, $209.76, $198.93, $196.16
• Bullish reversal level: A daily close above $225
• Bullish continuation level: A break above $230
• Bearish risk level: A drop back below $210

If QCOM holds above the $221-$225 area, buyers could target $230 and higher. But if the stock fades below $210, the post-event rally may lose momentum and bring the $198-$196 support zone back into focus.

Qualcomm Traders Should Watch $225 for Breakout

Qualcomm’s investor-day update gave bulls a fresh catalyst. The $40 billion non-handset revenue target, Meta-linked Dragonfly CPU roadmap, and Modular acquisition all support the view that Qualcomm is becoming more than a smartphone chipmaker.

Technically, the after-hours move is promising, but confirmation is needed. A daily close above $225 would strengthen the breakout case, while failure to hold above $210 would suggest the rally is fading.