Wells Fargo Bullish on QUALCOMM (QCOM) Amid $100+ Billion AI Inference Market Opportunity

QUALCOMM Incorporated (NASDAQ:QCOM) is one of the most undervalued AI stocks to buy now.

Analysts at Wells Fargo believe QUALCOMM Incorporated (NASDAQ:QCOM) may lift broader sentiment once more clarity emerges surrounding the company’s AI and data center strategy. The AI inference market opportunity exceeds $ 100 billion, which the firm’s analysts believe is not currently reflected in the company’s share price. Analysts expect QUALCOMM Incorporated (NASDAQ:QCOM) to capitalize on the attractive opportunity, projecting $5-$7 billion in annual revenue in 2027.

With this outlook, Wells Fargo raised QUALCOMM Incorporated (NASDAQ:QCOM)’s price target from $135 to $150 on February 24, 2026, while upgrading the stock from ‘Underweight’ to ‘Equal Weight’.

Meanwhile, on February 18, 2026, QUALCOMM Incorporated (NASDAQ:QCOM) shared its plans to extend its long-standing commitment to advancing India’s technology landscape. With an investment of up to $150 million, the company aims to accelerate the country’s rapidly expanding technology and AI startup ecosystem.

Specifically, QUALCOMM Incorporated (NASDAQ:QCOM) will work toward accelerating AI in areas such as automotive, IoT, robotics, and mobile.

By developing wireless technologies and semiconductors, QUALCOMM Incorporated (NASDAQ:QCOM) serves the mobile and connected devices segment.

While we acknowledge the potential of QCOM as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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