The analysis focuses on Qualcomm (QCOM), a chipmaker, highlighting its growth drivers, diversification into AI, automotive, and IoT, along with its $2.4 billion acquisition that could reshape its future. The stock is trading at around $159. Analysts target price is $225. Despite uncertain path, analysts give it a 42% upside, and although having lost 6% over the 52 weeks, the prices are up on longer term metrics. It is a reasonable valuation compared to peers, with the risk that it won't enter the data center business until 2028. The company targets $14.4 billion revenue from IoT by 2029, with new acquisitions in the generative AI segment. QCT revenues have handsets, automotive and IoT all scaled year over year.