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AMAZON.COM, INC.

(AMZN)
  Report
Delayed Nasdaq  -  04:00 2022-10-06 pm EDT
120.30 USD   -0.54%
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Qualcomm planning return to server market with new chip - Bloomberg News

08/18/2022 | 02:37pm EDT
FILE PHOTO: A Qualcomm sign is pictured at Mobile World Congress (MWC) in Shanghai

(Reuters) - Qualcomm Inc is considering a return to the server market with a new chip in a bid to decrease its reliance on smartphones, Bloomberg News reported on Thursday, citing people familiar with its plan.

Shares of Qualcomm rose nearly 3% in afternoon trading.

The chipmaker is seeking customers for a product stemming from its purchase of Nuvia Inc, the report said, adding that Amazon.com Inc's cloud division, Amazon Web Services (AWS), has agreed to take a look at Qualcomm's offerings.

Last year, the chipmaker acquired Nuvia, a chip startup founded by Apple Inc veterans, with plans to put the firm's technology into its smartphone, laptop and automotive processors.

Amazon confirmed that it has agreed to take a look at the offering, while Qualcomm said it does not comment on rumors and directed Reuters to its press release when it closed the Nuvia deal in March last year.

San Diego-based Qualcomm in July forecast fourth-quarter revenue below Wall Street targets, bracing for a difficult economy and a slowdown in smartphone demand that could hurt its mainstay handset chip business.

(Reporting by Tiyashi Datta in Bengaluru; Editing by Maju Samuel)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AMAZON.COM, INC. -0.54% 120.3 Delayed Quote.-27.45%
APPLE INC. -0.66% 145.43 Delayed Quote.-17.72%
QUALCOMM, INC. 0.31% 125.28 Delayed Quote.-33.08%
All news about AMAZON.COM, INC.
02:07pEU wants to know if Microsoft will block rivals after Activision deal
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01:07pWall Street drops amid inflation, rate hike worries
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12:52pAmazon Com : AWS is partnering with a concrete company to develop a more sustainable concr..
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12:42pAmazon.com Plans to Hire 150,000 Seasonal Workers for Holiday Season, Same as Last Year
MT
11:20aAmazon to hire 150,000 workers for holidays, similar to 2021
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10:45aWall Street drops on inflation, rate hike worries
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08:40aNasdaq futures turn positive after weekly jobless claims data
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08:08aAmazon to hire 150,000 workers ahead of holiday season
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07:31aAmazon.com Plans to Hire 150,000 Workers for Holiday Season
MT
07:03aAmazon is Hiring 150,000 Employees to Help Deliver Great Holiday Experiences
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More news
Analyst Recommendations on AMAZON.COM, INC.
More recommendations
Financials (USD)
Sales 2022 522 B - -
Net income 2022 479 M - -
Net Debt 2022 25 179 M - -
P/E ratio 2022 4 019x
Yield 2022 -
Capitalization 1 226 B 1 226 B -
EV / Sales 2022 2,40x
EV / Sales 2023 2,03x
Nbr of Employees 1 608 000
Free-Float 85,8%
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Technical analysis trends AMAZON.COM, INC.
Short TermMid-TermLong Term
TrendsBearishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 50
Last Close Price 120,30 $
Average target price 172,62 $
Spread / Average Target 43,5%
EPS Revisions
Managers and Directors
Andrew R. Jassy President, Chief Executive Officer & Director
Brian T. Olsavsky Chief Financial Officer & Senior Vice President
Jeffrey P. Bezos Executive Chairman
Patricia Q. Stonesifer Independent Director
Jonathan Jake Rubinstein Lead Independent Director
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