Prediction: A $1,000 Investment in Qualcomm Today Could Be Worth This Much by 2030 as AI Moves to the Edge
Key PointsQualcomm signed two new data center AI chip customers this fall, Amazon in a deal worth up to $60 billion and ByteDance for custom AI chips.
The report predicts that a $1,000 investment in Qualcomm today could be worth a significant amount by 2030 as artificial intelligence continues to move towards the edge. Despite spending most of the summer and fall proving that it is more than just a smartphone chip company, Qualcomm's stock, currently around $180, is still catching up to this story.
Throughout the summer, the stock traded sideways after reaching above $250 in May and early summer. In fall, Qualcomm secured two major data center customers, launched its next flagship phone chip centered around AI running on the device itself, and renewed an old licensing relationship. These recent moves have justified a bullish, multiyear outlook for Qualcomm.
In early September, Qualcomm and Amazon announced a multiyear deal, with Amazon Web Services potentially purchasing up to $60 billion in Qualcomm server chips, hardware, and high-speed optical networking gear over the next decade. The stock jumped as much as 10% upon the news.
Written by urgent.news from Motley Fool's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
