Qualcomm Shares Jump 3.5% on Broad Semiconductor Rally

Qualcomm (QCOM) shares rose 3.5% to $246.11 on May 26, 2026, swept into a powerful semiconductor rally ignited by Micron Technology (MU) and bullish Wall Street calls on artificial-intelligence demand. Micron surged 17.16% after a UBS note argued the memory maker has over 100% upside, citing long-term supply contracts that validate a structural, multi-year AI buildout rather than a cyclical bubble. Advanced Micro Devices (AMD), Broadcom (AVGO) and Intel (INTC) also gained sharply. Analysts highlighted a cyclical recovery: Bank of America said core industrial and automotive markets “finally turned the corner,” while Texas Instruments’ planned price increases for 2026 signaled strengthening pricing power and a healthier supply-demand balance. The move extends Qualcomm’s year-to-date gain to 42.3% and pushed the stock to a 52-week high. It follows a Stellantis partnership expansion announced four days earlier that deepens Qualcomm’s automotive diversification, a segment now generating over $5 billion in annual revenue.