On September 11, Qualcomm rose 3.08% in regular trading, trading at $181.48/share, with turnover of $1.21 billion. The stock notably bucked a broadly weaker semiconductor sector, where peers Micron Technology fell 4.91%, Intel dropped 4.76%, AMD declined 3.03%, and NVIDIA slipped 2.14%.

On the news front, Piper Sandler initiated coverage on Qualcomm with a Neutral rating and a $190 price target, implying further upside from current levels. Earlier, RBC Capital Markets also raised its target price from $160 to $180, maintaining a Sector Perform rating, citing Qualcomm's strengthened position in the data center AI segment following its landmark deal with Amazon.

The Amazon partnership remains a key catalyst. Under the multi-generational strategic agreement, Amazon will procure custom AI inference chips, server products, and optical interconnect solutions from Qualcomm, with potential purchases reaching up to $60 billion over 10 years. Qualcomm issued warrants for up to 25 million shares to Amazon at $161.26 per share, representing a $4 billion investment. Qualcomm's CFO expressed high confidence in the company's $5 billion data center revenue target for fiscal year 2027, noting that Amazon-related revenue recognition is expected to begin in December.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)