Qualcomm: Hope for Semiconductor Technology in the Tech World

Last Updated: 6. November 2023By

Today we take a closer look at Qualcomm’s stock, a company playing a prominent role in the tech industry. Let’s dive together into current developments and exciting analysis that shape the happenings around Qualcomm.

A Look at the Numbers Qualcomm recently gave a promising outlook for the current quarter, particularly highlighting prospects in artificial intelligence. This led to an increase in the stock in after-hours trading.

For the past quarter, the company reported a net income of $1.49 billion, which is a 48% decrease compared to the previous year, but still beat analysts‘ expectations. The earnings before certain costs amounted to $2.02 per share, while revenue decreased by 24% to $8.67 billion. Despite the drop in revenue, Qualcomm fared better than predicted.

Qualcomm in the Smartphone Market Qualcomm is closely tied to the smartphone industry, which is now experiencing a lull after a sales boom during the pandemic. The company supplies processors for high-end Android smartphones and is also present in Apple devices. Despite the drop in smartphone sales, Qualcomm sees signs of demand stabilization and positive development in 2023.

Development by Segments Qualcomm’s business segments saw varying results. The CDMA Technologies segment, which produces chips for smartphones, cars and other smart devices, saw a 26% drop in revenue. Within this segment, revenue from chips for mobile phones beat Wall Street expectations.

Increased Efforts in Artificial Intelligence Qualcomm is increasingly positioning itself in the artificial intelligence market and recently released the Snapdragon 8 Gen 3, a mobile processor with advanced AI features. The company expects to benefit from the growing interest in AI technologies.

Partnership with Apple Qualcomm recently announced that the partnership with Apple will be extended until at least 2026, which is good news for the company as Apple is one of its largest customers.

These are the current developments around Qualcomm. Please note that investments in the stock market involve risks and require careful analysis. I will keep you updated on interesting developments.