Qualcomm Inc. (NASDAQ:QCOM) shares are expected to touch $70 in 2012 as it is poised to benefit from the strong demand for smartphones and tablets, and from increased spending on wireless infrastructure.

For Qualcomm, we think shares can work toward $70 in 2012 as the firm is the most pure-play smartphone chip provider, FBR Capital Markets analysts wrote in a note to the clients.

Key opportunities include selling into the Apple iPhone and iPad, and new opportunities at Nokia and in Android-based smartphones, the analysts said.

The brokerage said Qualcomm's acquisition of Atheros in early 2011 should help it to meaningfully increase share in merchant Wi-Fi solutions while also providing a next-generation integrated Wi-Fi solution in its 8690 baseband processor.

In addition, increased spending on wireless infrastructure also bodes well for Qualcomm. Global spending on wireless infrastructure should grow solidly in 2012 after stalling in the second half of 2011 on macroeconomic weakness and chip over-shipments versus consumption.

The analysts said companies that would benefit from ramping wireless infrastructure spending include Broadcom, Qualcomm, Maxim, Linear Technology and Texas Instruments.

Shares of Qualcomm closed Monday's regular trading session at $54.78 with a market capitalization of $92.08 billion. The company's shares, which have been trading between $45.98 and $59.84 for the past 1-year, have gained 24 percent since late August.