Qualcomm stock (QCOM) rose nearly 4% on September 26, 2026. It closed at $201.97.
Investor enthusiasm followed the unveiling of Qualcomm’s new AI-enabled smartphone chips, the Snapdragon 8 Elite Gen 6 and Extreme Gen 6, and an extension of its patent license agreement with Apple.
The rally came despite mixed recent results. Overall sales declined, while the automotive chip sector grew significantly.
The new chips and continued partnership with Apple renewed investor confidence in Qualcomm’s growth prospects, particularly in its handset business and expansion into artificial intelligence.