Qualcomm stock rises after unveiling new AI PC chip

Shares of Qualcomm (QCOM) are rising after the company unveiled its newest AI PC chip. Catalyst Hosts Brad Smith and Madison Mills break down the chip's abilities as the company seeks to compete with other chip names like Intel (INTC).

For more expert insight and the latest market action, click here to watch this full episode of Catalysts.

This post was written by Melanie Riehl

Video Transcript

Let's check in on another trending ticker here.

Qualcomm getting a boost after launching its latest PC processor.

Today's move is the latest effort by Qualcomm to challenge Intel's dominance in the PC market.

Qualcomm has historically focused on smartphone processors but has ramped up efforts in the PC space as of late and looking to capitalize on a growing desire from customers to incorporate A I into devices.

You're taking a look at the move on the day.

It's up by about 1.4%.

1 of the announcements is the expansion of what is the Snapdragon X series portfolio.

This addition of the Snapdragon X plus eight core, why does it matter here?

This platform basically brings better battery life, better performance copilot plus features for all you A I fans out there.

Plus they're looking at lower price points for consumers here as well.

And we know how much this is important Qualcomm to be able to sell into some of their existing portfolio client base.

And so this is going to be one of the things that investors are tracking here and it's certainly having an impact on today's market action and price action.

Yes, certainly seen a recovery in the stock that we still have not seen the stock hitting back to where it was prior to those nvidia earnings that led to pressure across the major tech names, particularly in the chip sector over the last five days down about 5%.

But over the last month, we are seeing a little bit more recovery when you zoom out a little bit on a stock like this.

So I think it is an indication of sort of what Paul was saying, this idea that you're sort of looking at the technicals more than the fundamentals when it comes to a lot of these chips names.

Because even fundamental news about individual companies like this coming from Qualcomm, not necessarily enough to bring the stock back to recovery mode based on the downward pressure that we've seen across some of these chip names.