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Qualcomm raises 2029 targets across non-handset, data center and automotive

Jun 24, 2026, 4:59 PM EDT3 sourcesAI-analyzed
Why it may matterVerify against the original reporting

The substantial upsize of 2029 targets across multiple segments (non-handset, data center, automotive) implies higher long-term growth and operating leverage. History shows that clear, credible long-range targets can drive multiple expansion and raise investor confidence, provided execution milestones are met. Risks include execution challenges, supply chain, and competition in AI silicon/software ecosystems.

AI summary

What happened, with direct paths to the underlying reporting

Qualcomm outlined a multi-year diversification plan at Investor Day, targeting AI-dominated growth across data center, automotive, IoT, robotics, and industrial AI. The company raised its FY2029 targets to reflect expanding margins and a larger total addressable market of about $1.7 trillion by 2030, suggesting a longer growth runway and potential multiple expansion as AI compute becomes more distributed.

  • Raises FY2029 non-handset revenue target to $40B. Data center revenue >$15B by 2029.
  • Automotive design-wins pipeline to $65B; growth target $10B by FY2029.
  • Expands robotics and industrial AI as part of Physical AI wave.
  • Anticipates agent-driven upgrade cycle across the edge in coming years.
  • FY2029 non-GAAP EPS target above $18.

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StockNews.AI groups source reporting, classifies the event, and measures subsequent price movement. This is informational research, not investment advice. Prices may be delayed or unavailable.

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