AI and Connectivity Drive Qualcomm's Growth: Analyst Eyes Flourishing Prospects Amidst Inventory Corrections
Portfolio Pulse from Anusuya Lahiri
Mizuho analyst Vijay Rakesh reiterated Qualcomm Inc (NASDAQ:QCOM) with a Buy and a $140 price target. The analyst sees potential growth in AI and connectivity, with Qualcomm's AI at the Edge features driving new use cases. Qualcomm is expected to continue seeing 10% Y/Y content growth for its premium tier content, driven by demand for integrated SoC chip capabilities. However, customer inventory corrections and muted demand in China remain challenges. The company's shares traded higher by 1.36% at $110.96.
August 23, 2023 | 5:53 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Qualcomm's growth prospects are seen to be driven by AI and connectivity, with potential challenges from inventory corrections and muted demand in China.
The analyst's positive outlook on Qualcomm's growth prospects, particularly in AI and connectivity, is likely to boost investor confidence and potentially drive the stock price up. However, the ongoing inventory corrections and muted demand in China could pose challenges.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100