QCOM is trading 2% down today at $184.88 after Tenstorrent's CEO Jim Keller denied earlier reports of an $8-$10 billion acquisition by Qualcomm. - This denial follows Qualcomm's recent Investor Day (June 24, 2026) where the company unveiled its new Dragonfly data center portfolio and strategic partnerships with Meta and Microsoft, driving a sharp rally in the semiconductor and AI sectors. - Analyst sentiment remains supportive of QCOM's long-term trajectory, with Morgan Stanley recently raising its price target to $231.