Qualcomm Stock Rises Despite Barclays Sell Rating Amid $60 Billion Amazon Deal

Qualcomm's stock price rose by another 2% to around $177 per share on Wednesday, following Tuesday's 3.17% gain.

This increase came despite Barclays' Sell rating on the stock and Bernstein's Hold rating, which both firms issued after Qualcomm disclosed a $60 billion custom AI chip deal with Amazon.

The research firms noted that the deal adds no extra upside to Qualcomm's targets, as the company aims for $5 billion in data center revenue in fiscal 2027 and $15 billion in fiscal 2029.