Qualcomm (QCOM.US) targets $15 billion in data center revenue, yet Bernstein issues a bearish research report: catching the AI tailwind won't be enough to turn around profitability.

Tonghu Finance APP has learned that Qualcomm (QCOM.US), the semiconductor giant that has long focused on smartphone chips, has recently seen its stock price follow the Philadelphia Semiconductor Index and the broader U.S. equity market technology stocks toward a rebound, but the strength of its rebound has been far weaker than that of most popular AI semiconductor and memory chip stocks, and also weaker than the Philadelphia Semiconductor Index, which is known as the "global AI computing power trading barometer." After communicating with Qualcomm's management, Wall Street financial giant Bernstein acknowledged the progress of Qualcomm's business diversificationespecially recognizing Qualcomm's ambition to enter data center CPUs and AI inference chipsbut the institution maintained its cautious "market perform" rating and $155 price target, implying that in the institution's view Qualcomm's potential downside is as much as 12%.