Morgan Stanley resumed coverage of Qualcomm with an Underweight rating and a $132 price target, citing that the company’s earnings potential is largely reflected at current share levels. The firm warned that persistent memory-supply constraints could dampen Android smartphone volumes in the second half of 2026, beginning with lower-end models.

Qualcomm announced it will invest up to $150 million through its Strategic AI Venture Fund in Indian companies developing deep technology and AI solutions across automotive, robotics, edge computing, IoT and mobile sectors. The initiative will combine funding with product development support, go-to-market strategies and global partnership facilitation for portfolio companies.