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RBC Raises Qualcomm Price Target After Amazon AI Chip Deal

QUALCOMM logoQUALCOMM
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Amazon logoAmazon
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RBC Capital Markets raised Qualcomm’s price target to $180 from $160 after Qualcomm agreed with Amazon, arguing the partnership could strengthen its data-center AI position. The arrangement covers server processors, related technology and manufacturing services, with commitments and payments potentially reaching $60 billion. Revenue is expected to start in the December 2026 quarter, with some programs already in production.

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