Analysts Boost Qualcomm Price Targets as Waymo Plans 200 Vehicle Robotaxi Expansion
Two analysts upgraded Qualcomm stock, raising average price targets by 15% to $190, driven by anticipated growth in automotive chip demand. Waymo will expand its robotaxi service into Denver and Atlanta, deploying 200 vehicles by mid-2026, potentially boosting Qualcomm’s automotive semiconductor revenue.
1. Analyst Upgrades
Analysts at two major brokerages moved Qualcomm’s rating higher this week, shifting to Buy and Overweight. The upgrades reflect growing confidence in the company’s automotive chip business.
2. Price Target Increases
The combined action raised average price targets by 15%, lifting the median target to $190. This marks the largest round of target boosts for Qualcomm in recent quarters.
3. Waymo Expansion
Waymo announced plans to launch its robotaxi service in Denver and Atlanta, adding 200 vehicles to its fleet by mid-2026. This marks the first deployment outside its initial Phoenix and San Francisco operations.
4. Impact on Qualcomm
The expanded robotaxi fleet will rely on Qualcomm’s Snapdragon Ride automotive semiconductors, potentially driving a notable revenue increase in Qualcomm’s automotive segment over the next two years.