Qualcomm Gains as New Chip Brings Premium Features to Cheaper Phones

Qualcomm Gains as New Chip Brings Premium Features to Cheaper Phones

Qualcomm Gains as New Chip Brings Premium Features to Cheaper Phones © Reuters.

By Dhirendra Tripathi

Investing.com – Qualcomm (NASDAQ:QCOM) shares rose more than 3% in Friday’s trade, a day after the company introduced a new Snapdragon chip that will bring features associated with high-end phones to more handsets.

Both JP Morgan Chase (NYSE:JPM) and Piper Sandler (NYSE:PIPR) are overweight with $170 and $160 price target for the stock, respectively. That’s a 30% and a 22% jump from the stock’s current price.

Qualcomm unveiled its 7-series processors three years ago. The latest Snapdragon 780G 5G mobile platform offers some of the premium features of the Snapdragon 888 chipset at a more affordable price.

The company claims that the new platform will offer a 40% performance boost and 50% faster graphics from the earlier models.

Snapdragon 780G is the first 7-series platform with a triple Image signal processor, which can capture images from three cameras (zoom, wide, and ultra-wide) simultaneously.

Commercial devices featuring the Snapdragon 780G are expected to be available in the second quarter.

Original Article

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