27.09.2022 15:15:00

Qualcomm Stock Is a Buy but Not Because of Its Automotive Segment

Qualcomm's (NASDAQ: QCOM) first automotive-investor day has brought attention to the company for something other than smartphones. The chip designer has diversified into non-smartphone products. While much of its previous effort has focused on the metaverse, Qualcomm is now making its mark on the automotive sector.The question for stockholders and prospective investors is, how will the automotive pivot drive the stock? Let's take a closer look.Qualcomm gained attention in the automotive sector when it announced a "breakthrough automotive processor" in 2016. However, 2022 may be the year that puts the Qualcomm automotive segment on the map. After launching the Qualcomm Digital Chassis in January, the company has followed up with the recent investor day.Continue reading
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