Wells Fargo Raises Qualcomm Target to $150; APG Asset Management Cuts Stake
Wells Fargo raised its price target to $150 and upgraded to equal weight, citing a $100+ billion AI inference market projecting $5-7 billion in AI revenue by 2027; Qualcomm committed $150 million to India’s AI ecosystem. APG Asset Management trimmed its position 0.7% to 648,301 shares by selling 4,880 shares.
1. Wells Fargo Upgrade and AI Revenue Forecast
In late February, Wells Fargo raised Qualcomm’s price target to $150 from $135 and upgraded its rating to Equal Weight, highlighting a potential AI inference market exceeding $100 billion. The firm projects Qualcomm could generate $5–7 billion in annual AI-related revenue by 2027 based on its emerging data center strategy.
2. $150 Million Commitment to India’s AI Ecosystem
Qualcomm announced a plan to invest up to $150 million to accelerate India’s technology and AI startup ecosystem, focusing on automotive, IoT, robotics and mobile sectors. The funding will support development of wireless technologies and semiconductors in India’s rapidly growing connected devices market.
3. APG Asset Management Stake Reduction
During the latest quarter, APG Asset Management N.V. sold 4,880 shares of Qualcomm, reducing its holding by 0.7% to 648,301 shares. This minor portfolio adjustment reflects a modest repositioning rather than a significant strategic shift.