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NXP (NXPI) Processors to be Used by Foxconn, Clientele to Grow
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NXP Semiconductors N.V. (NXPI - Free Report) has been persistently gaining customer momentum on the back of robust portfolio offerings.
This is evident from the company’s recent collaboration with Foxconn group’s subsidiary, Foxconn Industrial Internet, for transforming the latter’s automotive division.
The partnership aims at developing a cockpit solution, which will be completely digital. The underlined solution will be powered by NXP i.MX 8 QuadMax.
The cockpit platform will be equipped with advanced technologies like digital clusters and a head-up display system to deliver an enhanced experience to automotive customers.
On the back of NXP’s radar solutions, the companies further strive to extend their partnership into Ultra-Wideband (UWB)-based secure car access and secure automated driving.
It is worth mentioning that the companies expect to begin the production of the cockpit solution in 2023.
The recent move has added strength to NXP’s customer base, which will contribute well to the company’s top-line growth. Further, the expanding clientele on the back of NXP’s advanced technology solutions will continue to instill investor optimism in the stock.
NXP has gained 36.8% on a year-to-date basis, outperforming the industry’s rally of 27.4%.
Image Source: Zacks Investment Research
Strength of UWB in Focus
NXP has been making strong efforts to strengthen the UWB technology to provide secure ranging and precision sensing capabilities.
The company recently introduced a Trimension UWB platform to help Samsung users locate their personal items.
In addition, it launched beta UWB development tools to support new applications of Apple (AAPL - Free Report) products including iPhone and Apple Watch.
With the help of Apple’s Nearby Interaction protocol and API, developers can use UWB features for developing applications suitable for communicating with accessories by being near to an U1-equipped iPhone or Apple Watch.
We note that strength in the UWB technology and its usage across various industries are aiding the company in winning clientele.
Apart from NXP’s expanded partnership with Foxconn for UWB, Xiaomi selected Trimension UWB to power “Point to connect” capabilities in its latest phone Xiaomi MIX4.
NXP is benefiting from its efficient and reliable portfolio of i.MX applications processors used for various multimedia and display applications.
The company recently unveiled the i.MX 93 family of application processors that uses machine learning for automotive, smart home, smart building and smart factory applications.
Further, it expanded the EdgeVerse portfolio with i.MX 8ULP, Microsoft Azure Sphere-certified i.MX 8ULP-CS, and i.MX 9 applications processors to enhance security as well as energy efficiency.
We expect that the expansion of its portfolio of i.MX application processors will remain the key factor behind NXP’s growth in the days ahead.
Image: Bigstock
NXP (NXPI) Processors to be Used by Foxconn, Clientele to Grow
NXP Semiconductors N.V. (NXPI - Free Report) has been persistently gaining customer momentum on the back of robust portfolio offerings.
This is evident from the company’s recent collaboration with Foxconn group’s subsidiary, Foxconn Industrial Internet, for transforming the latter’s automotive division.
The partnership aims at developing a cockpit solution, which will be completely digital. The underlined solution will be powered by NXP i.MX 8 QuadMax.
The cockpit platform will be equipped with advanced technologies like digital clusters and a head-up display system to deliver an enhanced experience to automotive customers.
On the back of NXP’s radar solutions, the companies further strive to extend their partnership into Ultra-Wideband (UWB)-based secure car access and secure automated driving.
It is worth mentioning that the companies expect to begin the production of the cockpit solution in 2023.
The recent move has added strength to NXP’s customer base, which will contribute well to the company’s top-line growth. Further, the expanding clientele on the back of NXP’s advanced technology solutions will continue to instill investor optimism in the stock.
NXP has gained 36.8% on a year-to-date basis, outperforming the industry’s rally of 27.4%.
Strength of UWB in Focus
NXP has been making strong efforts to strengthen the UWB technology to provide secure ranging and precision sensing capabilities.
The company recently introduced a Trimension UWB platform to help Samsung users locate their personal items.
In addition, it launched beta UWB development tools to support new applications of Apple (AAPL - Free Report) products including iPhone and Apple Watch.
With the help of Apple’s Nearby Interaction protocol and API, developers can use UWB features for developing applications suitable for communicating with accessories by being near to an U1-equipped iPhone or Apple Watch.
We note that strength in the UWB technology and its usage across various industries are aiding the company in winning clientele.
Apart from NXP’s expanded partnership with Foxconn for UWB, Xiaomi selected Trimension UWB to power “Point to connect” capabilities in its latest phone Xiaomi MIX4.
NXP Semiconductors N.V. Price and Consensus
NXP Semiconductors N.V. price-consensus-chart | NXP Semiconductors N.V. Quote
i.MX Application Processors – Key Portfolio
NXP is benefiting from its efficient and reliable portfolio of i.MX applications processors used for various multimedia and display applications.
The company recently unveiled the i.MX 93 family of application processors that uses machine learning for automotive, smart home, smart building and smart factory applications.
Further, it expanded the EdgeVerse portfolio with i.MX 8ULP, Microsoft Azure Sphere-certified i.MX 8ULP-CS, and i.MX 9 applications processors to enhance security as well as energy efficiency.
We expect that the expansion of its portfolio of i.MX application processors will remain the key factor behind NXP’s growth in the days ahead.
Zacks Rank & Stocks to Consider
Currently, NXP carries a Zacks Rank #3 (Hold).
Investors interested in the broader technology sector can consider stocks like Advanced Micro Devices (AMD - Free Report) and Mimecast Limited , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Advanced Micro Devices has gained 48.1% on a year-to-date basis. The long-term earnings growth rate for the stock is currently projected at 46.2%.
Mimecast has gained 38.8% on a year-to-date basis. The long-term earnings growth rate for the stock is currently projected at 35%.