Qualcomm Separates Snapdragon Brand

By Benzinga
Benzinga
Benzinga
November 23, 2021 Updated: November 23, 2021

Qualcomm Inc. has announced its plans to split the Qualcomm and Snapdragon brands. From now on, Snapdragon will be a “standalone product brand with specific ties to the Qualcomm brand where appropriate.”

“A new simplified and consistent naming structure for our platforms makes it easier for our customers to discover and choose devices powered by Snapdragon.

Now Qualcomm’s mobile platforms will transition to a single-digit series and generation number, aligning with other product categories starting with our newest flagship Snapdragon 8-series platform.”

Analyst Rating:

Raymond James removed Qualcomm from its “Analyst Current Favorites” list after the stock’s 50 percent gain since early October.

Raymond James, however, maintains a Strong Buy rating believing that the company is in the early phases of 5G-driven growth.

In addition, Qualcomm’s Apple Inc. AAPL +0 percent business is now de-risked from estimates, and its expansion into non-handset businesses provides a path to “accelerating and diversified long-term growth.”

Price Action:

QCOM shares traded lower by 0.55 percent at $183.99 on the last check Monday.

By Anusuya Lahiri

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Benzinga