Meta and Qualcomm Outlooks Improve on AI Bets and Cost Cuts
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Meta Platforms stock has surged in 2023 due to cost-cutting and efficiency initiatives by CEO Mark Zuckerberg. The company's social media apps continue to generate strong ad revenue.
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Meta is using AI to improve user engagement and ad targeting on its platforms. The company plans to focus on business AI in 2024 to open a new revenue stream.
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Qualcomm reported mixed Q4 results but forecasts a recovery in 2024 based on stabilizing smartphone demand.
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Qualcomm is making strides in on-device generative AI with new Snapdragon chips for smartphones and PCs.
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Qualcomm and Apple renewed their agreement for Qualcomm to supply 5G chips through 2026, reducing Qualcomm's reliance on Apple.