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Qualcomm's Snapdragon to lead next class of computing platforms - Rosenblatt

Investing.com -- Qualcomm's (NASDAQ:QCOM) Snapdragon suite of integrated circuit semiconductor products for mobile devices will be a market leader in the next generation of artificial intelligence-focused computing platforms, according to analysts at Rosenblatt.

In a note to clients on Monday raising their price target for San Diego-based chipmaker Qualcomm to $200 from $170, the analysts said that this computing class will help drive so-called generative AI, a nascent technology that uses input data to produce similar new content.

Recent data points cited by Rosenblatt showed that shipments of Samsung (KS:005930)'s Galaxy S24 smartphone -- a handset powered by a Snapdragon Gen 3 mobile processor that features generative AI -- are 13% higher than the older S23 model last year.

"Looking out to 2025, we expect the higher performance, increased bandwidth and energy efficient Snapdragon 8 Gen 4 to expand gen[erative] AI capabilities," the analysts said.

Personal computers underpinned by the Snapdragon X Elite chip are also expected to deliver AI tools to products like Microsoft (NASDAQ:MSFT)'s Surface Laptop 6 and Samsung's Galaxy Book4 Edge, they added.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.