- Qualcomm Technologies, Inc (NASDAQ:QCOM) launched the Snapdragon Ride Flex SoC, allowing the digital cockpit, ADAS, and AD functions to co-exist on a single SoC.
- SVP Nakul Duggal said, “We are making it easier and more cost-effective for automakers and Tier-1s to embrace the transition to an integrated, open, and scalable architecture across all vehicle tiers with our pre-integrated suite of hardware, software, and ADAS/AD stack solutions…”
- “Obviously, you are reducing the number of physical boxes. So it goes down to a single box. You reduce the amount of memory that you need. The extra external components that you need, those go down,” Duggal told Reuters.
- Qualcomm Technologies’ integrated automotive platforms, including Snapdragon Cockpit Platforms, Snapdragon Auto Connectivity Platforms, and Snapdragon Ride Platforms, continue to drive leadership and growth with an order pipeline of over $30 billion.
- With electric vehicles and increasing autonomous features in cars, the number of chips used by automakers is surging, and the automotive market has been a critical growth area for chipmakers.
- Duggal said automotive customers are already trying out the new chip, which would be commercially available in the first half of next year.
- Qualcomm has been steadily building up its automotive business in recent years, and in September, it said its automotive business “pipeline” increased to $30 billion.
- Price Action: QCOM shares traded higher by 3.43% at $110.88 on the last check Wednesday.
Why Better Choice Stock Is Climbing Higher Today
Better Choice's board of directors has authorized a stock repurchase program under which the company can repurchase up to $5 million of the currently outstanding shares of its common stock, until Dec. 31, 2024. The company reported its fourth-quarter financial results Friday with losses of $6.51 per share and quarterly sales of $5.702 million.
