Qualcomm Bets on AR/VR Chips and Auto Tech as Growth Drivers While Stock Looks Undervalued
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Qualcomm recently launched new mixed reality chips with key partners like Samsung and Google, aiming to lead in the AR/VR chip market.
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Qualcomm is well-positioned to benefit as AR/VR devices gain more adoption, though Apple remains a threat.
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Beyond AR/VR, Qualcomm sees growth opportunities in AI and automotive chips, with over $30B in auto chip contracts.
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Consensus estimates for Qualcomm's revenue growth seem conservative given the opportunities in emerging segments.
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With strong growth prospects but trading below 13x forward earnings, Qualcomm stock looks undervalued.