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Technology Stocks : Semi Equipment Analysis

SOXX 314.52

-0.6%

Dec 11 4:00 PM EST

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From: Julius Wong	3/11/2024 9:10:27 PM
	1 Recommendation Recommended By Return to Sender of 95572

Qualcomm in spotlight as Rosenblatt boosts price target on gen AI potential Mar. 11, 2024 9:48 AM ET By: Chris Ciaccia, SA News Editor JHVEPhoto Qualcomm (NASDAQ: QCOM) was in the spotlight on Monday after investment firm Rosenblatt Securities boosted its price targets on the semiconductor company. San Diego-based Qualcomm Snapdragon's system-on-a-chip is likely to lead the market in the next class of computing platform as it's likely to help bring generative AI to the edge, analyst Kevin Cassidy said. Cassidy maintained his Buy rating and increased his price target to $200 from $170. Recent data points suggest that Snapdragon 8 Gen 3-based Samsung ( OTCPK:SSNLF) Galaxy S24 shipments are 13% above last year's S23 shipments and 47% above the S22, Cassidy said. He also pointed to the release of the Snapdragon X Elite for PCs, which is expected to hit the market in the next several months. Additionally, Qualcomm shares are trading at roughly a 40% discount to the broader Philadelphia Semiconductor Index, Cassidy explained. Qualcomm shares were down fractionally in early Monday trading.

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