According to Zhizhong Financial APP, Wall Street investment banks have noted that Qualcomm (QCOM.US) disclosed in its investor activities the latest news that highlights the diversification potential of this chip manufacturer.

JPMorgan analyst Samik Chatterjee wrote in a report: "Qualcomm's internet of things and auto diversification investor day exceeded investor expectations. Before 2030, Qualcomm will achieve diversification from the smart phone market into other markets, aiming for 50% of non-smart phone QCT exposure by fiscal year 2030, while JPMorgan expected this proportion to be 45% before the event started."

His rating for Qualcomm is "shareholding," with a target price of 200 dollars.

Although the financial goals set by Qualcomm's management (such as achieving 14 billion dollars in revenue from the internet of things segment by fiscal year 2029) may outline a "solid" path for diversification, investors are more likely to focus on the upside and downside risks of the internet of things targets, as the previous plans set by the company in 2021 did not come to fruition. Chatterjee added that the outlook for the smart phone market in the medium term is also not optimistic.

Even so, Chatterjee stated, "After achieving the planned diversification, there is still a strong upside opportunity to reassess the stock price."

Several other research firms share similar thoughts, including Baird analyst Tristan Gerra, who noted that the company's relevance across multiple industries is "increasing." Raymond James analyst Srini Pajjuri stated that he is "impressed" with Qualcomm's global strategy, but issues related to Apple's modem may "keep revenue/eps growth sluggish in the next 2-3 years."

In addition, Qualcomm's CEO Cristiano Amon stated to the media on Wednesday that no large acquisition targets have been determined yet, with speculation suggesting that it may bid for Intel as early as next year.