QUALCOMM Inc (NASDAQ:QCOM) shares are surging in Wednesday’s after-hours session after the company provided an updated outlook.
Qualcomm stock is surging to new heights today. Why is QCOM stock up today?
Qualcomm Sees Strong Non-Handset Revenue Ahead
Qualcomm outlined the acceleration of its diversification strategy at its 2026 Investor Day on Wednesday. In connection with the event, the company announced updated long-term revenue targets.
Qualcomm now expects non-handset revenue of $40 billion by fiscal 2029, which includes more than $15 billion in data center revenue, more than $14 billion in IoT revenue and $10 billion in Automotive revenue.
