Prediction: A $1,000 Investment in Qualcomm Today Could Be Worth This Much by 2030 as AI Moves to the Edge
Qualcomm locked in two major AI data center customers and a renewed Apple deal this fall, and the stock hasn't fully priced it in yet.
Overview
Qualcomm (NASDAQ: QCOM) spent most of this summer and fall proving it's not just a smartphone chip company anymore, and the stock, around $180 at this writing, is still catching up to that story. The stock has been somewhat lackluster throughout much of this summer, trading sideways after hitting above $250 in May and early summer.
A $1,000 investment today buys a little more than five shares. This fall, Qualcomm locked in a massive new data center customer, landed a second one most investors didn't see coming, launched its next flagship phone chip around AI running on the device itself, and renewed one of its oldest licensing relationships. I think its recent stretch justifies a bullish, multiyear view of Qualcomm.
Details
In early September, Qualcomm and Amazon (NASDAQ: AMZN) announced a multiyear deal under which Amazon Web Services could purchase up to $60 billion in Qualcomm server chips, hardware, and high-speed optical networking gear over the next decade, with Qualcomm issuing Amazon warrants tied to the amount it actually buys. The stock jumped as much as 10% on the news.
Source
Originally published at www.fool.com.