Qualcomm Stock Soars on Amazon AI Chip Deal

Qualcomm's stock price surged by 2.88% to close at $181.97 on Nasdaq on September 11, 2026, following a multibillion-dollar custom chip deal with Amazon for AI infrastructure.

The agreement, valued at around $4 billion, will see Qualcomm design custom chips for Amazon as part of its AI infrastructure expansion.

According to analyst data from MarketBeat, the average price target for Qualcomm is $204.10, suggesting moderate upside from recent prices.

However, some analysts are more optimistic, with 24/7 Wall St. assigning a high-conviction Buy rating and a price target of $239.79, implying around 35% upside.