Qualcomm's (NASDAQ:QCOM) stock got an early boost todayup just over 2% before markets openedafter it snagged a fresh deadline to firm up its roughly $1.4 billion bid for U.K. chip IP specialist Alphawave.

Earlier, QCOM had dipped about 1.35% during normal hours, but word that Alphawave's put up or shut up clock has been reset to June 2 (the third push-out since late April) lit a spark under shares. Alphawave's valuation clocks in at about 1.1 billionaround $1.4 billionand its own stock jumped 8% on the news, even though no official offer has landed yet.

• Warning! GuruFocus has detected 5 Warning Signs with QCOM.

Why it matters: Alphawave's tech is a linchpin for AI processor connections, which lines up perfectly with Qualcomm's big-picture AI roadmap. As J.P. Morgan's Samik Chatterjee points out, snapping up Alphawave would slot neatly alongside QCOM's Nuvia buy, beefing up its data-center connectivity chops and turbocharging its CPU and AI inference play.

For investors, the potential payoff is clearseal this deal, and Qualcomm could speed up its push into next-gen data centers and AI hardware, opening fresh revenue channels just as demand for high-speed, low-latency chips ramps up.

Now all eyes are on June 2: will Qualcomm finally make a formal bid, or will Alphawave buy more time? Either way, today's extension keeps the takeover dramaand the stock's momentumright on track.

The chart above shows Qualcomm Inc. (NASDAQ:QCOM) with a 12-month average price target of $177.64 as of May 27, 2025, representing a projected upside of 22.19% from its current level.

The highest analyst target stands at $270, suggesting strong bullish sentiment, while the lowest forecast is $140, indicating downside risk. The intrinsic or GF Value is pegged at $160.10, hinting that the stock may be slightly undervalued based on current fundamentals. Overall, analysts anticipate moderate growth, with a wide range reflecting varied views on the chipmaker's prospects.

This article first appeared on GuruFocus.