Qualcomm introduced Snapdragon 8 Elite chip with computer-like abilities for smartphones

From NASDAQ: 2024-10-22 03:47:34

Qualcomm unveiled the Snapdragon 8 Elite chip, promising computer-like abilities for smartphones at its Hawaii Summit. Major manufacturers like Samsung, OnePlus, and Xiaomi have already committed to using the chip in upcoming devices. The chip, made with TSMC’s 3nm process, offers a 45% performance boost and 27% less power consumption compared to its predecessor. Qualcomm is providing developers with specialized tools to fully utilize the chip’s capabilities, positioning itself to compete with AMD and Intel. Wall Street analysts give QCOM a Moderate Buy rating, with a $214.13 price target suggesting a 26.7% upside potential. Shares have gained 19% year-to-date.



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