Qualcomm Inc. (NASDAQ:QCOM) stock saw a sharp rise in momentum score, jumping from 21.53 to 43.64 on a week-over-week basis

A momentum score is a metric used to gauge how strongly a stock is trending over time by analyzing recent price movements and trading volume, reflecting the intensity of its current market trend.

Qualcomm Expands AI And Data Center

Qualcomm CEO Cristiano Amon said the company planned to ship data center chips to a major hyperscaler within the year, with more details expected at its June investor day.

He noted that AI agents were reshaping the company's roadmap across all platforms, reflecting a broader shift driven by artificial intelligence.

Amon also said the smartphone market was expected to recover after the third fiscal quarter, suggesting the cycle had likely bottomed.

He pointed to growing opportunities in data center chips, including work on CPUs, inference accelerators, and custom ASICs following the AlphaWave acquisition.

He added that Qualcomm was still in the early stages of its data center expansion but was building capabilities and customer relationships as demand for AI-driven computing from cloud providers increased.

Benzinga's Edge Stock Rankings showed a complete breakdown of Qualcomm's price structure, with short-, medium-, and long-term trends all shifting into positive territory in the latest data.

Qualcomm Stock Gains

Stock market commentator Sam Badawi posted on X that Jim Cramer had previously said investors would not make money on Qualcomm when it traded near $130.

He noted that the stock has since risen to about $180 ahead of earnings, while one of Qualcomm's key customers, Apple, reportedly represents $8.8 billion in business, highlighting the strong rally and momentum shift.

Jim Cramer told the everyone that they would not make money on $QCOM when it was $130.

Today Qualcomm is $180 heading into earnings with one of their largest clients $AAPL at $8.8B. 🤯 pic.twitter.com/bJNK208Dvb

— Sam Badawi (@Sam_Badawi) April 30, 2026

Daniel Newman also noted that Qualcomm trades at a relatively low valuation compared to other semiconductor names, suggesting the market may be underestimating the current cycle's strength.

$QCOM follows $MU and the memory names as the low PE names in semis. When will people start to realize that this cycle is different? https://t.co/SmsnfhxnXj

— Daniel Newman (@danielnewmanUV) May 2, 2026

Price Action

Qualcomm closed at $186.55, up 10.79% on Tuesday, and rose 4.85% in pre-market trading on Wednesday at the time of writing.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Photo courtesy: Michael Vi via Shutterstock