To The Moon

QUALCOMM Inc (NASDAQ:QCOM) shares are surging in Wednesday’s after-hours session after the company provided an updated outlook.

• Qualcomm stock is surging to new heights today. Why is QCOM stock up today?

Qualcomm Sees Strong Non-Handset Revenue Ahead

Qualcomm outlined the acceleration of its diversification strategy at its 2026 Investor Day on Wednesday. In connection with the event, the company announced updated long-term revenue targets.

Qualcomm now expects non-handset revenue of $40 billion by fiscal 2029, which includes more than $15 billion in data center revenue, more than $14 billion in IoT revenue and $10 billion in Automotive revenue.

“We are defining Qualcomm’s next chapter as we accelerate our edge diversification strategy, introduce a comprehensive roadmap for next-generation AI data centers, and evolve into a platform company,” said Cristiano Amon, president and CEO, Qualcomm Incorporated.

“Our presence across the entire compute continuum and unparalleled technology capabilities, in low-power computing, AI and connectivity put us in a strong position to capture these opportunities.”

Alongside the company’s new data center AI infrastructure strategy, Qualcomm announced an expansion into robotics and industrial AI platforms as part of the next wave of physical AI.

The company said it’s targeting more than $18 of adjusted earnings per share in fiscal 2029 and anticipates an agent-driven upgrade cycle across the edge in future years.

Qualcomm noted that multiple large markets are reaching inflection points as AI compute becomes increasingly distributed across devices, edge and cloud. Looking beyond fiscal 2029, Qualcomm sees continued secular growth across data center, robotics, ADAS and autonomous driving, industrial AI, personal AI and 6G.

QCOM Shares Soar Wednesday

QCOM Price Action: Qualcomm shares were up 12.75% in after-hours Wednesday, trading at $222.57, according to Benzinga Pro.

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