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Qualcomm Stock Tumbles 6.34% Amid Strategic PC Market Push

Mover TrackerWednesday, Nov 20, 2024 5:30 pm ET

1min read

On November 20, 2024, Qualcomm's stock faced a significant drop, falling by 6.34% to $154.27, marking its lowest value since August 2024. This follows a pattern of decline seen throughout November, with the stock dipping 5.22% within the month, despite an annual rise of 6.67%. The recent movements have heightened investor interest, as the company continues to navigate the evolving semiconductor market.

During Qualcomm’s recent Investor Day, the company unveiled plans for its third-generation Oryon CPU cores, which are set to debut in upcoming Snapdragon X Plus and Elite series chips. This move is part of Qualcomm's broader strategy to penetrate deeper into the PC market by lowering the cost of Snapdragon laptops to around $600. This strategy could potentially give Qualcomm a competitive edge as it aims to generate $4 billion in PC chip sales by 2029.

Notably, Qualcomm has emphasized its commitment to expanding its product line across different market segments. Following its premium Snapdragon X Elite, aimed at flagship Windows PCs priced around $1,000, Qualcomm plans to introduce a processor catering to entry-level PCs. This comprehensive strategy could meet up to 70% of the Windows notebook market demand by 2026, with over 100 Snapdragon X laptops expected to launch by then.

Qualcomm is capitalizing on the energy efficiency of its Snapdragon chips, which appear to outpace even the latest x86 chips from Intel and AMD, particularly in terms of performance per watt. The company anticipates that by 2029, 30-50% of the PC market will transition away from x86 architecture, presenting significant opportunities for its ARM-based offerings.

This proactive approach in the PC sector comes alongside elevated pressures from increased semiconductor costs, attributed partly to TSMC's process technology price hikes. However, Qualcomm remains optimistic, projecting substantial growth and strategizing to gain market share through innovation and expanded capabilities in AI integration.

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goodpointbadpoint

11/21

$QCOM Just last month, QCOM provided optimistic guidance. Now, they're saying their non-smartphone segment will be a drag. This doesn't sound right. Amon should be doing better and might need an adjustment.

Working_Initiative_7

$QCOM Even the most negative analyst out there has a $QCOM target of 165, which is where we were at just yesterday.

raool309

If $QCOM doesn't show a strong recovery by tomorrow, those who are counting on it as a solid bottom will be disappointed. It seems like the market is treating us like a weak link, riding us despite our expectations.

DisabledScientist

$QCOM, what the hell?

BlackBlood4567

11/20

Think $QCOM can eat into Intel's market if their Snapdragon chips deliver on those specs. Exciting times in the PC landscape. 🤔

PlatHobbits7

Oryon CPU cores are lit; watch Intel's panic.

JRshoe1997

Qualcomm diving into the PC market looks solid, but can they hold up with those TSMC costs? Energy efficiency is a beast, though. Gonna watch how they tackle the x86 giants. 🤔

serenity561

Oryon CPU cores sound promising. ARM vs x86 battle heating up. Will Qualcomm really capture 70% of the market?

provoko

Snagged more $QCOM shares at the dip. Chips are my bread and butter; long-term play feels solid.

FiscalSentry

$QCOM's move: x86 vs. ARM showdown incoming.

Tyler Grant

Snapdragon laptops hitting $600, game's about to change

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