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Qualcomm (QCOM) Unveils Snapdragon 8 Gen 1 Mobile Platform

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Qualcomm, Inc. (QCOM - Free Report) has unveiled its latest 5G mobile platform — Snapdragon 8 Gen 1.

Featuring advanced 5G, AI, gaming, camera, and Wi-Fi and Bluetooth technologies, the Snapdragon 8 is likely to transform the next generation of flagship mobile devices.

It will be adopted by global original equipment manufacturers and brands, including Motorola, OnePlus, Oppo, Redmi and Sony (SONY - Free Report) . Commercial devices are expected by the end of this year. Sony’s Electronics Products & Solutions segment is benefiting from an increase in sales of smartphones.

The new mobile platform brings unparalleled connectivity, photography, AI, gaming, sound and security experiences to a smartphone.

Qualcomm continues to benefit from the ramp-up in 5G-enabled chips and the rise in demand for digital transformation in the cloud economy. The stock has gained 20.4% in the past year compared with the industry’s growth of 18.2%.

Zacks Investment ResearchImage Source: Zacks Investment Research

Equipped with the fourth generation Snapdragon X65 5G Modem-RF System, it is the world’s first 5G modem-RF solution to reach 10 Gigabit download speed. Snapdragon 8 features the Qualcomm FastConnect 6900 Mobile Connectivity System, supporting the fastest Wi-Fi speed.

Snapdragon Sight Technology includes the first commercial 18-bit mobile ISP, capturing more camera data than its predecessor. This is also the first 8K HDR video capture in a mobile platform.

The seventh-generation Qualcomm AI Engine is equipped with an ultra-high-performance Hexagon processor. With more than 50 Snapdragon Elite Gaming features, Snapdragon 8 delivers ultra-smooth responsiveness and HDR scenes.

Users can experience a new class of crystal-clear voice and music with Bluetooth 5.2 and Snapdragon Sound Technology. Snapdragon 8 also features vault-like security to help keep users’ data safe.

Qualcomm is leading the 5G transition with increasing revenues across RF front-end, IoT and Automotive as its business continues to diversify. The chipmaker is well-poised to benefit from solid 5G traction with greater long-term visibility.

QCOM currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Clearfield, Inc. (CLFD - Free Report) is another top-ranked stock in the industry, sporting a Zacks Rank #1. The Zacks Consensus Estimate for its current-year earnings has been revised 8.8% upward over the past 30 days.

Clearfield delivered a trailing four-quarter earnings surprise of 50.8%, on average. It has returned 172.7% in the past year.

Sierra Wireless, Inc. (SWIR - Free Report) carries a Zacks Rank #2. The consensus mark for current-year earnings has been revised upward by 20.5% over the past 30 days.

Sierra has a trailing four-quarter earnings surprise of 34.2%, on average. The stock has appreciated 14.6% in the past year.