QCOM trades near its 50‑day moving average with a bullish flag formation and EPS guidance beating estimates, supporting upside to $155. The balance sheet remains strong with over $12 B cash and accelerating free cash flow from AI‑related contracts.

Investor sentiment has turned sharply positive as Wells Fargo and media tout a $100 B AI inference market, driving buying pressure. Recent Apple product launches are expected to boost chipset demand, reinforcing the rally.

Regulatory scrutiny over 6G spectrum and potential telecom capex slowdown remain the primary risks, but the AI/data‑center pivot diversifies revenue for the next decade. Long‑term, Qualcomm’s licensing model and partnership ecosystem position it for sustained growth.

On‑balance volume crossed above the 20‑day EMA and RSI rose to 58, indicating momentum continuation. The MACD histogram turned positive, supporting a near‑term target around $150.