Qualcomm CEO Says AI Agents Will Replace Traditional Apps

Key Stats for Qualcomm Stock

• Price change for Qualcomm stock in last 6 months: 25%
• $QCOM Share Price as of Jun. 15: $221
• 52-Week High: $260
• $QCOM Stock Price Target: $183

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What Happened?

Qualcomm (QCOM) stock is in focus today after CEO Cristiano Amon made a bold prediction: AI agents are going to replace traditional apps as the center of digital life.

• Amon said apps aren’t dead — but they’re going to change. “Those agents are going to be the new app,” he said.
• Instead of opening a banking app and searching for a transaction, an AI agent will just handle it for you.
• That shift, Amon argues, will reshape how consumers use every device they own.
• Qualcomm stock stands to benefit directly from this transition.
• The company is currently working on over 40 designs for new AI-powered wearable devices — including smart glasses, camera-enabled earbuds, pins, and jewelry.
• The idea is simple: devices you wear all the time, with sensors that give AI agents constant context about the world around you.

Amon is especially bullish on smart glasses. He told CNBC that shipments are already in the “tens of millions” annually and could reach “hundreds of millions” within a couple of years — potentially rivaling the smartphone market in scale.

On the earnings front, Qualcomm stock backed up the hype with solid numbers.

• Q2 revenue came in at $10.6 billion, with non-GAAP EPS of $2.65 hitting the high end of guidance.
• Automotive revenue hit a record $1.3 billion, up 38% year-over-year.
• The company also returned $3.7 billion to shareholders in the quarter alone.

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What the Market Is Telling Us About Qualcomm Stock

The near-term picture for Qualcomm stock is a bit mixed.

China handset weakness is weighing on chipset revenue, with Q3 guidance coming in at $9.2 to $10 billion. Memory shortages are prompting Chinese smartphone makers to scale back production, creating a short-term drag.

But the longer-term story is getting stronger.

Qualcomm stock is increasingly a bet on agentic AI across every device category — from cars to wearables to data centers — and management is pointing to June 24’s Investor Day as the moment they’ll lay it all out.

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Disclaimer:

Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!