RBC Raises Qualcomm Price Target After Amazon AI Chip Deal
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.