Landon Capital

Analysts at Rosenblatt predict that Qualcomm’s (NASDAQ:QCOM) Snapdragon suite of integrated circuit semiconductor products for mobile devices will emerge as a dominant force in the upcoming era of artificial intelligence-focused computing platforms.

In a client note issued on Monday, Rosenblatt raised their price target for San Diego-based chipmaker Qualcomm to $200 from $170. They highlighted the pivotal role of this computing category in driving the advancement of generative AI, a cutting-edge technology that leverages input data to generate similar new content.

Recent insights shared by Rosenblatt indicate a significant uptick in shipments of Samsung’s (KS:005930) Galaxy S24 smartphone, which is powered by a Snapdragon Gen 3 mobile processor featuring generative AI. Comparatively, these shipments are 13% higher than those of the older S23 model from last year.

Furthermore, Rosenblatt anticipates that personal computers equipped with the Snapdragon X Elite chip will integrate AI capabilities into products like Microsoft’s (NASDAQ:MSFT) Surface Laptop 6 and Samsung’s Galaxy Book4 Edge.

In essence, Rosenblatt’s analysis suggests that Qualcomm’s Snapdragon is poised to lead the charge in the next wave of computing platforms, particularly in the realm of AI-focused technologies.