In trading on July 14, shares of chipmaker Qualcomm Incorporated (NASDAQ: QCOM) increased 4.62 percent to $141.9. The confirmation of a favorable recommendation from the investment bank JP Morgan served as the justification.
Here's Your FREE Report on the #1 Small-Cap Uranium Stock of '24.
Small-cap Uranium stocks are booming in 2024! The company we're about to show you is the ONLY small-cap stock in the space that benefits from ALL aspects of the global Uranium industry with none of the risks of running a mine. Smart investors will not be hesitating on this one!
Get the FREE Report with all the details here.
Sponsored
Qualcomm Incorporated (QCOM) stock has gotten too cheap, in the opinion of JP Morgan analyst Samik Chatterjee, to overlook its potential. The analyst reaffirmed his overweight recommendation but decreased his price target from $205 to $185. Even the lower price, though, still suggests a double-digit rise in quotations.
Since the start of the year, QCOM stock has dropped more than 22%, although it has increased 10% during the past month. The quarterly report, which will be released on July 27, 2022, following the end of the market, might provide extra momentum.
Qualcomm Incorporated (QCOM) is still one of the winners of the global economy’s digital transition. The business, which already serves as a top provider of chipsets for smartphones, also plans to compete in the market for chipsets for automobiles.
This week, major Chinese electric car manufacturer Li Auto revealed that its new L9 flagship vehicle will use Qualcomm’s latest 7nm Snapdragon SA8155P CPU.
Zeerkr, a Geely-owned Chinese automaker, and the automakers Xpeng and Nio also employ Qualcomm chips.
A system-on-a-chip (SoC) that can be readily included in smart automobiles is the SA8155P chipset.
Greater processing power and simple operating system integration are advantages of Qualcomm’s approach. Additionally, Qualcomm Incorporated (QCOM) has extensive expertise in creating semiconductors for smartphones, and contemporary linked automobiles carry out the same tasks.
Although Chinese manufacturers are making an effort to employ domestically built chips, they are currently unable to match the capabilities of the Snapdragon SA8155P. An analog will take some time to produce, and in that time Qualcomm Incorporated (QCOM) will also be growing. The business introduced the 5nm Snapdragon SA8259P processor in 2021, which the Chinese manufacturer Baidu Jidu Auto has already chosen for a number of upcoming vehicle models.
