On September 17, Qualcomm rose 3.24% in pre-market trading to $191.18/share, with turnover of $19.77 million. The stock had already climbed 4.25% in the prior session to close at $187.80, touching a two-month high.

The sustained rally is primarily driven by Qualcomm's landmark AI data center infrastructure partnership with Amazon. Under the agreement, Amazon subscribed to 25 million Qualcomm warrants at $161.26 per share, representing a $4 billion investment, and committed to purchasing up to $60 billion in Qualcomm server chips and related products over the next decade. RBC Capital Markets subsequently raised its price target on Qualcomm from $160 to $180, noting the deal could eventually represent approximately $6 billion in additional annual revenue if all conditions are met. Meanwhile, Piper Sandler initiated coverage with a Neutral rating and a $190 target. Options markets have also reflected rising bullish sentiment, with the call/put volume ratio reaching 3.49 and large-block purchases of far-dated out-of-the-money calls targeting $200.

(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.)