Qualcomm Price Target Raised on Snapdragon Leadership in AI and Strong Galaxy S23 Demand
• Rosenblatt Securities raised Qualcomm's (QCOM) price target to $200 from $170 and maintained Buy rating • Analyst sees Qualcomm's Snapdragon chips leading in bringing generative AI to edge devices • Early data shows strong demand for Samsung's Snapdragon 8 Gen 3-based Galaxy S23 series • Qualcomm recently announced Snapdragon X Elite chip for upcoming Windows PCs • Qualcomm shares trading at a discount compared to semiconductor index