Qualcomm Set For 50% Surge In Snapdragon 8 Gen 4 Shipments By Late 2024, Analyst Predicts
Portfolio Pulse from Anusuya Lahiri
Qualcomm's stock is rising following analyst Ming-Chi Kuo's prediction of a 50% increase in Snapdragon 8 Gen 4 shipments by late 2024. The company is expected to benefit from AI smartphone and PC growth, and increased SoC prices due to TSM's 3-nanometer process. Qualcomm's Q4 2024 revenue and profit are anticipated to rise significantly.
October 14, 2024 | 4:58 pm
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NEUTRAL IMPACT
Apple's development of its own 5G chips has been factored into Qualcomm's stock price, reducing its negative impact.
The news mentions that the negative impact of Apple developing its own 5G chips has already been factored into Qualcomm's stock price, suggesting a neutral impact on Apple's stock in the short term.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 30
POSITIVE IMPACT
Qualcomm's Snapdragon 8 Gen 4 shipments are expected to increase by 50% in late 2024, driven by AI growth and TSM's 3nm process, boosting revenue and profit.
The analyst's prediction of a 50% increase in Snapdragon 8 Gen 4 shipments by late 2024 is a strong positive signal for Qualcomm. The anticipated growth in AI smartphone and PC markets, along with increased SoC prices due to TSM's 3nm process, are expected to significantly boost Qualcomm's revenue and profit in Q4 2024.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
TSMC's 3-nanometer process is expected to increase SoC prices, benefiting Qualcomm's revenue and profit.
The adoption of TSMC's 3-nanometer process is expected to increase SoC prices, which will benefit Qualcomm's revenue and profit. This is a positive development for TSMC as it highlights the demand for its advanced manufacturing process.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 50