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Piper Sandler Initiates Qualcomm at Neutral Citing Priced-In AI Data Center Ambitions

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The Story

News Summary

  • Piper Sandler initiated coverage on Qualcomm with a Neutral rating and a $190 price target.
  • While Qualcomm targets $15 billion in data center revenue by fiscal 2029, the firm warns that future AI design wins are already largely priced in and require broader industry traction.
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