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QCOM earns a BUY rating with a $240 price target, implying 35% upside, backed by 61% automotive revenue growth and an Amazon AI infrastructure deal.
Broadcom's AI chip sales surged 221% to $16.7 billion, showing exactly what Qualcomm is chasing at a fraction of AVGO's $1.72 trillion valuation.
CEO Cristiano Amon targets $40 billion in non-handset revenue by FY29, with growth expected to fully replace lost Apple modem revenue within FY27.
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