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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