Qualcomm Showcases Automotive Advancements at CES 2024, Announces Central Vehicle Computer Partnership with Bosch
Portfolio Pulse from Anusuya Lahiri
At CES 2024, Qualcomm Technologies, Inc (NASDAQ:QCOM) highlighted its Snapdragon Digital Chassis portfolio and announced a partnership with Robert Bosch GmbH to introduce the industry's first central vehicle computer. This computer, based on the Snapdragon Ride Flex SoC, integrates infotainment and ADAS functionalities. Qualcomm's automotive technology revenue is growing, with a projection of $4 billion by 2026 and $9 billion by the end of the decade. The company's solutions have been used in over 75 models in 2023 and are in 350 million+ vehicles. QCOM shares dropped 1.31% in premarket trading.
January 09, 2024 | 2:01 pm
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Qualcomm announced a significant partnership with Bosch and showcased its Snapdragon Digital Chassis portfolio at CES 2024. The company is experiencing strong growth in the automotive sector and is projecting substantial revenue increases by 2026 and 2030.
The announcement of Qualcomm's partnership with Bosch and the introduction of a new central vehicle computer are significant positive developments, indicating growth and innovation in the automotive sector. Despite the short-term stock price dip, the long-term outlook based on revenue projections and market penetration is positive, suggesting a likely increase in stock value in the short term as the market digests the news.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100