Why It’s Time to Pound the Table on Qualcomm Stock in 2024

InvestorPlace05-03

Qualcomm (NASDAQ:QCOM) stock Snapdragon platform is driving diversified growth across all business segments. Their automotive revenue skyrocketed 35% YOY in their latest Q2 FY24 results. ...

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With the growing significance of their Snapdragon X Platforms and the company’s ability to drive diversified growth, Qualcomm stock is an extremely attractive investment opportunity in 2024 and beyond.Qualcomm’s Snapdragon X platforms are the backbone of modern mobile connectivity. These customized chips power smartphones, tablets, PCs, and other devices enabling them to connect to carrier networks around the world.While the Snapdragon X and Automotive segments are key growth drivers, Qualcomm stock is also experiencing strong growth in its other business segments. Their Q2 FY24 earnings report highlights posit","collect":0,"end_time":0,"defaultTopTitle":"investorplace.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4575":"芯片概念","LU1823568750.SGD":"Fidelity Global Technology A-ACC SGD","BK4527":"明星科技股","GB00BDT5M118.USD":"天利环球扩展Alpha基金A Acc","BK4579":"人工智能","BK4588":"碎股","BK4141":"半导体产品","SG9999001424.SGD":"United E-Commerce Fund SGD","BK4573":"虚拟现实","LU1046421795.USD":"富达环球科技A-ACC","LU0868494617.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD) ACC","BK4561":"索罗斯持仓","BK4581":"高盛持仓","LU0061475181.USD":"THREADNEEDLE (LUX) AMERICAN \"AU\" (USD) ACC","BK4512":"苹果概念","BK4585":"ETF&股票定投概念","QCOM":"高通","BK4532":"文艺复兴科技持仓","BK4554":"元宇宙及AR概念","BK4515":"5G概念","LU0079474960.USD":"联博美国增长基金A","BK4534":"瑞士信贷持仓"},"translate_title":"为什么是时候在2024年敲打高通股票了","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"QCOM":1},"content_text":"Qualcomm (NASDAQ:QCOM) stock Snapdragon platform is driving diversified growth across all business segments.   \n Their automotive revenue skyrocketed 35% YOY in their latest Q2 FY24 results.  \n AQualcomm’s long-term potential is solidified by the rebound in the handset market.\n\n\n\n\n\n \n\nSource: jejim / Shutterstock.com\n\n\n\nQualcomm (NASDAQ:QCOM) stock is a leading innovator in wireless technology, and their recent Q2 FY24 earnings report paints a bright picture for the company’s future. As the backbone of 5G technology, the company is revolutionizing the smartphone and PC markets with its advanced AI chips. \nAdditionally, the handset market is recovering from its post-pandemic slump, signaling that a massive rebound may be underway. With the growing significance of their Snapdragon X Platforms and the company’s ability to drive diversified growth, Qualcomm stock is an extremely attractive investment opportunity in 2024 and beyond. \nThe Unbeatable Snapdragon X Platform\nQualcomm’s Snapdragon X platforms are the backbone of modern mobile connectivity. These customized chips power smartphones, tablets, PCs, and other devices enabling them to connect to carrier networks around the world. \nEvidently, Wall Street has become excited about the growth prospects of their AI CPU (Snapdragon X Elite). \nThis platform is said to run generative AI models 2X faster than its competition. While this has been the most talked about selling point to pounce on the stock, their diversified AI platform might be undervalued. \nThe Snapdragon platform includes on-device AI capabilities for the PC, smartphone, automotive, IoT, and the cloud. Their full-stack AI platform is built to optimize and deploy AI models at scale across all platforms. \nQualcomm is well-positioned to benefit from generative AI, 5G, and the mobile device market.\nRevving Up the Automotive Industry\nQualcomm stock is a major player in the automotive industry, providing essential technologies for connected and autonomous vehicles. Their automotive segment has been experiencing explosive growth, with a 35% YOY increase in revenue in Q2 FY24. \nThe demand for connected cars with features like in-vehicle infotainment, navigation, and advanced driver-assistance systems is surging. Qualcomm’s Snapdragon automotive platforms are perfectly suited for these applications.\nThe ongoing development of autonomous vehicles is creating an entirely new market for powerful, reliable processors. Qualcomm has laid the groundwork and is at the forefront of this revolution, with its Snapdragon Ride platform designed specifically for autonomous driving.\nQualcomm Stock: A Massive Rebound is Underway\nWhile the Snapdragon X and Automotive segments are key growth drivers, Qualcomm stock is also experiencing strong growth in its other business segments. Their Q2 FY24 earnings report highlights positive developments. \nThe handset market saw 1% YOY growth signaling a rebound is on the horizon. Growth in IoT and computing remained strong and the company’s continued focus on innovation and diversified growth mitigates risks and positions them for long-term success.\nOn the date of publication, Terel Miles did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.\nTerel Miles is a contributing writer at InvestorPlace.com, with more than seven years of experience investing in the financial markets.Artificial Intelligence, Consumer Discretionary, Automotive, Electric Vehicles, Semiconductor, Technology \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nSubmit\n\n\n\n\n\n\n\nArticle printed from InvestorPlace Media, https://investorplace.com/2024/05/why-its-time-to-pound-the-table-on-qualcomm-stock-in-2024/.\n©2024 InvestorPlace Media, LLC","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2432392422"}