Qualcomm Stock Soars on Apple News - What's Going On?
Portfolio Pulse from Anusuya Lahiri
Qualcomm Inc has secured a deal with Apple Inc to supply Snapdragon 5G Modem‑RF Systems for Apple's smartphone launches in 2024, 2025, and 2026. The agreement aims for a 20% share of chipset supply for the 2026 smartphone launch. Qualcomm's stock rose by 7.96% following the news. Meanwhile, Nvidia Corp is struggling with the supply of AI chips and has sought support from Samsung Electronics Co.
September 11, 2023 | 12:06 pm
News sentiment analysis
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POSITIVE IMPACT
Qualcomm's stock is likely to rise in the short term due to the deal with Apple.
The deal with Apple, a major player in the smartphone market, is a significant win for Qualcomm and is likely to boost investor confidence.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Samsung's stock may see a slight boost due to Nvidia seeking its support for AI chip supply.
Nvidia seeking Samsung's support could be seen as a vote of confidence in Samsung's capabilities, potentially boosting its stock.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
The deal with Qualcomm may have a neutral impact on Apple's stock in the short term.
While the deal ensures a steady supply of 5G Modem‑RF Systems for Apple, it is one of many factors that influence Apple's stock.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 60
NEGATIVE IMPACT
Nvidia's stock may face downward pressure due to difficulties in keeping up with AI chip supply.
Nvidia's difficulties in meeting the demand for AI chips could negatively impact investor confidence.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50