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Qualcomm (QCOM) Enhances Google's Web Browser Capabilities
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Qualcomm Incorporated (QCOM - Free Report) recently partnered with Google to release an optimized Chrome browser designed for Windows PCs powered by Snapdragon. The launch of an improved iteration of Chrome precedes the expected release of Snapdragon X Elite compute platforms in mid-2024. These advancements will empower Windows PC users with access to significantly faster web browsing capabilities.
The new Chrome version demonstrated remarkable performance enhancements compared to previous versions in a preliminary trial conducted with Snapdragon X Elite reference devices. The test was carried out using Speedometer 2.1, a browser benchmark that evaluates the responsiveness of web applications. The Snapdragon-powered Chrome browser for Windows is currently available to download for users with an existing Windows on Snapdragon device.
Qualcomm has a long-standing business relationship with Google, dating back to the launch of the first Android device in 2008. Earlier this year, Google announced its decision to integrate the Snapdragon XR2+ Gen 2 chipsets for its upcoming XR devices. The recent venture further reaffirms the ongoing collaboration between the tech giants.
The PC industry is at a critical juncture with the emergence of AI-native PCs. The significant shift is driven by the integration of advanced AI capabilities into laptops and desktops that greatly enhance efficiency, productivity and personalization. Aligning with the changing market dynamics, Google continuously incorporates security updates and new features, such as experimental generative AI in the world’s most popular browser.
The upcoming Snapdragon X Elite boasts an industry-leading Qualcomm AI engine offering remarkable performance, enhanced energy efficiency, workload optimization and incredibly fast responsiveness. Incorporation of these advanced features of Snapdragon X Elite will ensure a premium experience on ARM-compatible PCs.
The PC industry witnessed declining trends in fiscal 2023. However, the market contraction is expected to reverse in 2024. Various factors such as growing adoption of hybrid work models, remote learning and AI integration, promise a healthy momentum in the upcoming years. Signs of recovery in the PC market are expected to be assertive on Qualcomm’s top-line growth.
With the accelerated rollout of 5G technology, the company is benefiting from investments toward building a licensing program in mobile. It is well-positioned to meet its long-term revenue targets driven by solid 5G traction, greater visibility and a diversified revenue stream. The company is increasingly focusing on the seamless transition from a wireless communications firm for the mobile industry to a connected processor company for the intelligent edge. This augurs well for its long-term growth proposition.
Shares of the company have gained 35.7% in the past year compared with the industry’s growth of 15%.
Image Source: Zacks Investment Research
Qualcomm currently carries a Zacks Rank #3 (Hold).
The company is well-positioned for the ongoing technology cycle, given the strength of its end-to-end portfolio. Its installed base of high-capacity AirScale products, which enables customers to upgrade to 5G quickly, is growing fast.
Pinterest (PINS - Free Report) , carrying a Zacks Rank #2 at present, delivered a trailing four-quarter average earnings surprise of 37.42%. In the last reported quarter, it delivered an earnings surprise of 3.92%.
Pinterest is increasingly establishing a unique value proposition to advertisers that could provide a competitive advantage in the long haul. Through various innovations, it continues to dramatically improve the advertising platform, which appears to be one of the best ad platforms for consumer discretionary brands looking for ways to reach customers and stretch smaller ad budgets.
NVIDIA Corporation (NVDA - Free Report) , currently sporting a Zacks Rank #1, delivered a trailing four-quarter average earnings surprise of 20.18%. In the last reported quarter, it delivered an earnings surprise of 13.41%.
NVIDIA is the worldwide leader in visual computing technologies and the inventor of the graphic processing unit. Over the years, the company’s focus evolved from PC graphics to AI-based solutions that support high-performance computing, gaming and virtual reality platforms.
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Qualcomm (QCOM) Enhances Google's Web Browser Capabilities
Qualcomm Incorporated (QCOM - Free Report) recently partnered with Google to release an optimized Chrome browser designed for Windows PCs powered by Snapdragon. The launch of an improved iteration of Chrome precedes the expected release of Snapdragon X Elite compute platforms in mid-2024. These advancements will empower Windows PC users with access to significantly faster web browsing capabilities.
The new Chrome version demonstrated remarkable performance enhancements compared to previous versions in a preliminary trial conducted with Snapdragon X Elite reference devices. The test was carried out using Speedometer 2.1, a browser benchmark that evaluates the responsiveness of web applications. The Snapdragon-powered Chrome browser for Windows is currently available to download for users with an existing Windows on Snapdragon device.
Qualcomm has a long-standing business relationship with Google, dating back to the launch of the first Android device in 2008. Earlier this year, Google announced its decision to integrate the Snapdragon XR2+ Gen 2 chipsets for its upcoming XR devices. The recent venture further reaffirms the ongoing collaboration between the tech giants.
The PC industry is at a critical juncture with the emergence of AI-native PCs. The significant shift is driven by the integration of advanced AI capabilities into laptops and desktops that greatly enhance efficiency, productivity and personalization. Aligning with the changing market dynamics, Google continuously incorporates security updates and new features, such as experimental generative AI in the world’s most popular browser.
The upcoming Snapdragon X Elite boasts an industry-leading Qualcomm AI engine offering remarkable performance, enhanced energy efficiency, workload optimization and incredibly fast responsiveness. Incorporation of these advanced features of Snapdragon X Elite will ensure a premium experience on ARM-compatible PCs.
The PC industry witnessed declining trends in fiscal 2023. However, the market contraction is expected to reverse in 2024. Various factors such as growing adoption of hybrid work models, remote learning and AI integration, promise a healthy momentum in the upcoming years. Signs of recovery in the PC market are expected to be assertive on Qualcomm’s top-line growth.
With the accelerated rollout of 5G technology, the company is benefiting from investments toward building a licensing program in mobile. It is well-positioned to meet its long-term revenue targets driven by solid 5G traction, greater visibility and a diversified revenue stream. The company is increasingly focusing on the seamless transition from a wireless communications firm for the mobile industry to a connected processor company for the intelligent edge. This augurs well for its long-term growth proposition.
Shares of the company have gained 35.7% in the past year compared with the industry’s growth of 15%.
Image Source: Zacks Investment Research
Qualcomm currently carries a Zacks Rank #3 (Hold).
Stocks to Consider
Nokia Corporation (NOK - Free Report) , carrying a Zacks Rank #2 (Buy) at present. It has a long-term earnings growth expectation of 9.4%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The company is well-positioned for the ongoing technology cycle, given the strength of its end-to-end portfolio. Its installed base of high-capacity AirScale products, which enables customers to upgrade to 5G quickly, is growing fast.
Pinterest (PINS - Free Report) , carrying a Zacks Rank #2 at present, delivered a trailing four-quarter average earnings surprise of 37.42%. In the last reported quarter, it delivered an earnings surprise of 3.92%.
Pinterest is increasingly establishing a unique value proposition to advertisers that could provide a competitive advantage in the long haul. Through various innovations, it continues to dramatically improve the advertising platform, which appears to be one of the best ad platforms for consumer discretionary brands looking for ways to reach customers and stretch smaller ad budgets.
NVIDIA Corporation (NVDA - Free Report) , currently sporting a Zacks Rank #1, delivered a trailing four-quarter average earnings surprise of 20.18%. In the last reported quarter, it delivered an earnings surprise of 13.41%.
NVIDIA is the worldwide leader in visual computing technologies and the inventor of the graphic processing unit. Over the years, the company’s focus evolved from PC graphics to AI-based solutions that support high-performance computing, gaming and virtual reality platforms.