Qualcomm stock trades 48.4% above fair value estimate at $250.01 amid Nvidia RTX Spark competition and automotive AI expansion plans

Qualcomm's share price reached US$250.01, representing a 72.3% one-year total return, but now trades well above a prominent fair value estimate of $168.50, according to Simply Wall St analysis.

The company is expanding into automotive and industrial IoT segments with a combined $22 billion revenue target by 2029, aimed at diversifying revenue and driving margin growth as these businesses grow larger within total earnings.

Qualcomm faces pressure from Nvidia's new RTX Spark superchip in Windows PCs, which has sharpened competition in the Snapdragon franchise, though execution on newer bets in data centers and AI remains critical to the valuation story.