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NVIDIA CORPORATION

(NVDA)
  Report
Delayed Nasdaq  -  04:00 2022-09-23 pm EDT
125.16 USD   -0.36%
09/22Chipmaker Qualcomm says automotive future business expands to $30 billion
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09/22Wall Street ends down for third day as growth concerns weigh on tech
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09/22Nasdaq, S&P end down for third day as growth concerns weigh on tech
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Chipmaker Qualcomm says automotive future business expands to $30 billion

09/22/2022 | 05:07pm EDT
FILE PHOTO: CES 2022 in Las Vegas

(Reuters) - U.S. chip maker Qualcomm Inc on Thursday said its automotive business "pipeline" increased to $30 billion, up more than $10 billion since its third quarter results were announced in late July.

The jump in future business was thanks to its Snapdragon Digital Chassis product used by car makers and their suppliers, said Qualcomm at its Automotive Investor Day. The Snapdragon Digital Chassis can provide assisted and autonomous driving technology as well as in-car infotainment and cloud connectivity.

With electric vehicles and autonomous features increasing in cars, the number of chips used by automakers are surging and the automotive market has been a key growth area for chipmakers.

Earlier this week, chipmaker Nvidia Corp also unveiled a new automotive central computer called DRIVE Thor to provide autonomous and assisted driving as well as in-car digital entertainment and services.

(Reporting by Jane Lanhee Lee and Akash Sriram; Editing by Sandra Maler)

By Jane Lanhee Lee and Akash Sriram


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
NVIDIA CORPORATION -0.36% 125.16 Delayed Quote.-57.44%
QUALCOMM, INC. -2.01% 121.19 Delayed Quote.-32.37%
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Financials (USD)
Sales 2023 27 106 M - -
Net income 2023 4 694 M - -
Net cash 2023 9 365 M - -
P/E ratio 2023 69,1x
Yield 2023 0,13%
Capitalization 312 B 312 B -
EV / Sales 2023 11,1x
EV / Sales 2024 9,51x
Nbr of Employees 22 473
Free-Float 95,9%
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Mean consensus BUY
Number of Analysts 45
Last Close Price 125,16 $
Average target price 206,10 $
Spread / Average Target 64,7%
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Managers and Directors
Jen Hsun Huang President, Chief Executive Officer & Director
Colette M. Kress Chief Financial Officer & Executive Vice President
William James Dally Chief Scientist & Senior Vice President-Research
Tony Tamasi Senior Vice President-Content & Technology
Debora Shoquist Executive Vice President-Operations
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QUALCOMM, INC.-32.37%136 096
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