Qualcomm (QCOM) Rises 7.6% on Earnings Beat, Data Center Chip Plans and Analyst Upgrades

Qualcomm shares rose 7.6% in afternoon trading on May 14, 2026, after stronger-than-expected fiscal second-quarter results, new details on data center processor shipments and a temporary U.S.-China tariff suspension prompted analyst upgrades. The move followed Qualcomm’s April 29 earnings report, which topped Wall Street revenue and profit estimates. CEO Cristiano Amon said the company expects to ship data center processors to a major hyperscaler customer before the end of 2026, raising investor expectations for AI-related demand beyond its core wireless chip business. Daiwa Securities upgraded Qualcomm to Outperform from Neutral and raised its price target to $225. Tigress Financial and Benchmark also increased their price targets. Qualcomm shares were up 36.2% year to date and traded at $235.65, a 52-week high. The stock had gained 7.4% on May 11, 2026, amid broader semiconductor strength tied to AI infrastructure demand.