2024

Edge

Gains

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<p class="has-drop-cap">Qualcomm’s (NASDAQ: QCOM) stock has increased, fueled by several analyst upgrades and positive ratings. TD Cowen raised the company’s price target from $200.00 to $235.00, reflecting strong confidence in Qualcomm’s market position. <br><br>Other analysts, such as Argus, UBS Group, Piper Sandler, KeyCorp, and Canaccord Genuity, have recently increased their price targets as well. The consensus rating for Qualcomm stock is a Moderate Buy, with one sell rating, six hold ratings, and seventeen buy ratings. The consensus target price stands at $188.74.</p>
<p>Qualcomm’s recent quarterly earnings exceeded expectations, with earnings per share (<a href="https://tokenist.com/investing/how-to-value-a-stock/" rel="noopener noreferrer nofollow" class="deco-link">EPS</a>) reported at $1.93 against the consensus estimate of $1.82. The company’s revenue for the quarter was $9.39 billion, slightly above the consensus estimate of $9.32 billion. <br><br>As of 10:00 AM EST, Qualcomm’s stock price has increased by 2.13% to $208.73. The company’s market cap is $232.937 billion, with a beta (5Y Monthly) of 1.29 and a <a href="https://tokenist.com/investing/p-e-ratio/" rel="noopener noreferrer nofollow" class="deco-link">PE Ratio</a> (TTM) of 27.25. Qualcomm’s EPS (TTM) is 7.50, and the stock has seen impressive returns, with a 1-year return of +84.64% and a 5-year return of +245.60%.</p>
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<h3 id="kneron-unveils-kneo-330-edge-ai-server-and-ai-embedded-pc">Kneron Unveils KNEO 330 Edge AI Server and AI-Embedded PC</h3>
<p>Kneron, a Qualcomm-backed startup, has introduced the KNEO 330 Edge AI server and an AI-embedded PC, powered by the company’s KL830 AI chip. The KNEO 330 supports up to 8 concurrent connections, LLMs, and stable diffusion. <br><br>By pairing the KNEO 330 with a leading GPU, energy consumption is reduced by 30%, while small enterprises can expect cost reductions of 30% to 40%.</p>
<p>This partnership with Kneron has contributed to the positive sentiment surrounding Qualcomm stock. The AI PC market is expected to grow from 50 million units in 2024 to over 167 million by 2027, with global shipments of AI PCs and AI smartphones projected to reach 295 million units in 2024.</p>
<p>Qualcomm stock’s 52-week range is $104.33 – $217.43, and the company has increased its <a href="https://tokenist.com/investing/what-is-dividend-investing/" rel="noopener noreferrer nofollow" class="deco-link">dividend yield</a> to $3.40 annually. Recent news for the company includes energy efficiency advancements and significant insider trading activities, further contributing to its positive outlook.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe>
<p><strong><em>Do you see Qualcomm continue to thrive as AI continues to drive the markets? Let us know in the comments below.</em></strong></p>
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p>
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<p>The post <a rel="noopener noreferrer nofollow" href="https://tokenist.com/qualcomm-gains-on-analyst-upgrades-kneron-ai-server-news/">Qualcomm Gains on Analyst Upgrades, Kneron AI Server News</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Qualcomm Gains on Analyst Upgrades, Kneron AI Server News

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