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    Home » Qualcomm Set For 50% Surge In Snapdragon 8 Gen 4 Shipments By Late 2024, Analyst Predicts
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    Qualcomm Set For 50% Surge In Snapdragon 8 Gen 4 Shipments By Late 2024, Analyst Predicts

    userBy userOctober 14, 2024No Comments2 Mins Read
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    Qualcomm Set For 50% Surge In Snapdragon 8 Gen 4 Shipments By Late 2024, Analyst Predicts

    Qualcomm Inc (NASDAQ:QCOM) stock is shooting upward after analyst Ming-Chi Kuo commented on the company’s Snapdragon 8 Gen 4 shipments.

    The analyst noted that Qualcomm’s stock price has already factored in the negative impact of Apple Inc (NASDAQ:AAPL) developing its own 5G chips. The company is poised to benefit from better-than-expected momentum in the fourth quarter of 2024 and favorable trends in 2025, including AI smartphone and AI PC growth and increased System on Chip (SoC) prices due to the adoption of Taiwan Semiconductor Manufacturing Co’s (NYSE:TSM) 3-nanometer process, as per Ming-Chi Kuo.

    Also Read: China Is Eating Apple’s Lunch: Where Smartphone Maker Ranks Vs Asian Competitors

    According to the analyst, among Qualcomm’s mobile SoCs this year, the most expensive and profitable Snapdragon 8 Gen 4 (SD8G4) will see most of its 2024 shipments in the fourth quarter of 2024.

    Ming-Chi Kuo noted that compared to SD8G3, SD8G4’s second-half 2024 shipments would likely increase 50% to 9 million units, with an ASP increase of 15% to $180, contributing significantly to fourth-quarter 2024 revenue and profit.

    The analyst noted that the significant growth in SD8G4 shipments is attributed to a more extended shipping period, increased demand from Samsung, and recent Chinese smartphone market dynamics.

    Chinese brand smartphones reached about 80% market share during the recent Golden Week holiday sales, with shipments growing 20% (versus iPhone, which was flattish), which will likely continue through the fourth quarter of 2024, Ming-Chi Kuo said.

    As per the analyst, the market share of high-end smartphones (above 4000 RMB) in China will likely grow from 25%–30% in 2023 to 30%–35% in 2024.

    He added that Chinese smartphone market shipments will likely grow by 3% to 280 million units in 2024, and continued growth is likely in 2025.

    Price Action: QCOM stock is up 3.32% at $175.63 at last check Monday.

    Photo via Shutterstock

    Also Read:

    Latest Ratings for QCOM

    Date

    Firm

    Action

    From

    To

    Feb 2022

    Mizuho

    Maintains

    Buy

    Feb 2022

    Morgan Stanley

    Maintains

    Overweight

    Feb 2022

    JP Morgan

    Maintains

    Overweight

    View More Analyst Ratings for QCOM

    View the Latest Analyst Ratings

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    This article Qualcomm Set For 50% Surge In Snapdragon 8 Gen 4 Shipments By Late 2024, Analyst Predicts originally appeared on Benzinga.com

    © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.



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