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Qualcomm is pushing into AI chips for PCs and smartphones, providing growth beyond its core handset business. It has a new agreement with Samsung featuring AI capabilities.
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Qualcomm's Snapdragon X Elite PC chip tests well compared to rivals Intel, AMD, and Apple. It could gain share in the PC market.
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Qualcomm has a $30B automotive chip order book. It's fusing infotainment and autonomous driving capabilities onto single chips.
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Qualcomm trades cheaply at 15x forward earnings compared to other chipmakers. Earnings could substantially top past peak levels.
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Qualcomm rallied off its October lows but still looks inexpensive. Further share gains or AI chip success could boost the stock.