Qualcomm Acquires Alphawave Semi to Enter Data Center Market, Raises Price Target to $185
Qualcomm Inc. has acquired Alphawave Semi to re-enter the data center market, which it had exited in 2018. Analyst C J Muse from Cantor Fitzgerald maintained a Buy rating on Qualcomm, raising the price target from $150 to $185, while the company prepares to showcase its Snapdragon Cockpit Elite technology at CES 2026, aimed at enhancing on-device AI capabilities.
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Qualcomm Inc. has been identified as one of the 10 Most Undervalued Semiconductor Stocks. On December 16, analyst C J Muse from Cantor Fitzgerald maintained a Buy rating on Qualcomm and increased the price target from $150 to $185, still below the $200 median target from 36 analysts.
On December 18, Qualcomm completed the acquisition of Alphawave Semi to re-enter the data center market, which it had exited in 2018. The company is also set to showcase its Snapdragon Cockpit Elite technology at CES 2026, in collaboration with LG Electronics. This technology will enable real-time AI calculations on-device, enhancing AI assistance and reducing vulnerabilities associated with cloud connections.
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