TECH - Qualcomm Poised for Growth in AI Smartphones and Automotive Sectors Amid Expanding Market Presence: Analyst | Benzinga
Benchmark analyst Cody Acree initiated coverage on Qualcomm Inc (NASDAQ:QCOM) with a Buy rating and a price target of $200.
Qualcomm is particularly well positioned to capitalize on the industry's trends of shifting AI computational inferencing workloads to the very edges of the network, where the company is leveraging its strengths in wireless connectivity and computing to lead the market in the ramp of generative AI smartphones and AI-PCs, with both likely sparking long-term replacement cycles in their respective markets, Acree said.
He noted that these replacement cycles should counter investor concerns of core market stagnation.
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