Analysts Hail Qualcomm's Auto Design Pipeline Due To Market Prospects
Analysts Hail Qualcomm's Auto Design Pipeline Due To Market Prospects
分析師因市場前景歡呼高通汽車設計流水線
- Qualcomm Inc (NASDAQ:QCOM) hosted its first-ever Automotive Investor Day in New York City.
- The key data point is that the lifetime automotive design pipeline has increased by $11 billion in the past month and a half to $30 billion.
- For more near-term metrics, FY26 automotive revenue target is now $4 billion+ in FY26, up from $3.5 billion previously, and $9 billion+ in FY31, up from $8 billion previously.
- Automotive will likely be $1.3 billion in FY22.
- Qualcomm moved its Snapdragon Platform from vehicle connectivity to digital cockpit applications and now gaining momentum in ADAS/AD.
- Rosenblatt analyst Kevin Cassidy reiterated a Buy and $220 price target on Qualcomm.
- He saw the Veoneer / Arriver software stack acquisition as driving the critical ingredient to Qualcomm's ADAS success. Expectations were set for design win announcements during CES 2023.
- Also, many other opportunities would likely be closed within the next two years.
- The Qualcomm bears may point to these wins as lower-level processing and not the domain processor, but he liked the progression of lower-end CPU designs to higher end in the long-term wins strategy.
- Barclays analyst Blayne Curtis reiterated Equal Weight and a $160 price target.
- Curtis found it well-positioned within next-gen Auto designs with a stronghold in connectivity, growth in the digital cockpit, and emerging presence in ADAS/AD.
- Though Auto is a strong growth driver over the next decade+, the story is still heavily levered to Mobile, where NT Android trends are weaker and likely result in estimate revisions.
- Wells Fargo reiterated an Equal Weight and $150 price target.
- It highlighted how Qualcomm focused on the Snapdragon Digital Chassis enabling transformation in the automobile.
- While Qualcomm's automotive revenues represent only $1.3 billion, or ~3%, of total revenues today, it saw a significant opportunity to grow automotive revenues driven by accelerating trends within automotive.
- The analyst found it difficult for QCOM shares to outperform peers based on constrained LT growth prospects specific to the mature mobile handset market, which still drives ~60% of QCT sales.
- Price Action: QCOM shares traded lower by 2.36% at $120.75 on the last check Friday.
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- 高通納斯達克(Sequoia Capital：QCOM)在紐約市舉辦了其首個汽車投資者日。
- 關鍵的數據點是，在過去的一個半月裏，終身汽車設計管道增加了110億美元，達到300億美元。
- 對於更多的近期指標，26財年的汽車收入目標現在是40億美元以上，高於之前的35億美元，31財年的目標是90億美元以上，高於之前的80億美元。
- 汽車行業在2012財年可能會達到13億美元。
- 高通將其Snapgon平臺從車輛連接轉移到數字駕駛艙應用，現在ADAS/AD獲得了勢頭。
- 羅森布拉特分析師凱文·卡西迪重申了高通的買入和220美元的目標價。
- 他認為收購Veoneer/Arriver軟件堆棧是推動高通ADAS成功的關鍵因素。在CES 2023年期間，人們對設計獲獎公告設定了預期。
- 此外，許多其他機會可能會在未來兩年內關閉。
- 看空高通的人可能會指出，這些勝利是低級處理，而不是域處理器，但他喜歡低端CPU設計向高端發展的長期制勝戰略。
- 巴克萊分析師布萊恩·柯蒂斯重申了平權和160美元的目標價。
- 柯蒂斯發現，它在下一代汽車設計中處於有利地位，在連接性、數字駕駛艙的增長以及ADAS/AD領域的新興存在方面佔有一席之地。
- 儘管汽車是未來十年+的強勁增長動力，但故事仍然嚴重依賴於移動，在移動領域，NT Android的趨勢較弱，可能會導致預期修正。
- 富國銀行重申同等權重和150美元的目標價。
- 它突顯了高通如何專注於驍龍數字底盤，使其能夠實現汽車領域的轉型。
- 雖然高通的汽車收入僅為13億美元，約佔目前總收入的3%，但在汽車行業加速發展的趨勢推動下，高通看到了增長汽車收入的巨大機遇。
- 這位分析師發現，基於成熟手機市場有限的LT增長前景，高通的股價很難超過同行，該市場仍佔QCT銷售額的60%左右。
- 價格行動：高通股價週五尾盤下跌2.36%，至120.75美元。
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