옵션 체인은 다양한 행사가격과 만기일에 대한 Qualcomm의 주식 옵션 주요 데이터를 보여줍니다. 트레이더들은 이 정보를 사용하여 잠재적 거래를 분석하고 Qualcomm에 대한 시장 심리를 평가합니다..

Qualcomm (NASDAQ:QCOM) 주식, 옵션 체인

Qualcomm

Qualcomm develops and licenses wireless technology and designs chips for smartphones. The company's key patents revolve around CDMA and OFDMA technologies, which are standards in wireless communications that are the backbone of all 3G, 4G, and 5G networks. Qualcomm's IP is licensed by virtually all wireless device makers. The firm is also the world's largest wireless chip vendor, supplying nearly every premier handset maker with leading-edge processors. Qualcomm also sells RF-front end modules into smartphones, as well as chips into automotive and Internet of Things markets.

Analyst Color

Price Target

Previews

Reiteration

Analyst Ratings

Trading Ideas

AAPL

QCOM

기술 회사 퀄컴(NASDAQ:QCOM)은 수요일 시장 마감 후에 4분기 재무 실적을 발표할 때, 매출 다각화와 스마트폰 시장에 대한 의존도 감소를 강조할 수 있다.

퀄컴 4분기 실적 예상: 분석가들은 스마트폰 수요, 애플 매출 손실로 인해 신중한 전망

News

Tech

MSFT

NFLX

NVDA

Sony Group Corporation American Depositary Shares

SONY

TCEHY

루퍼트 머독의 다우 존스와 뉴욕 포스트가 제프 베이조스가 지원하는 인공지능(AI) 회사 퍼플렉시티(Perplexity)를 상대로 콘텐츠 무단 사용과 자사 플랫폼으로의 트래픽 전환을 이유로 법적 절차를 개시했다.

소비자 기술 뉴스 (10월 21일-10월 25일): 애플, 비전 프로 헤드셋 생산 축소 전망 및 넷플릭스 등

Technicals

INTC

인텔(NASDAQ:INTC)과 마이크론 테크놀로지(NASDAQ:MU)는 반도체 분야에서 치열한 경쟁을 벌이고 있지만, 이들 주식 차트 이상의 전선이 그어지고 있는 것으로 보인다.

인텔 vs 마이크론 테크놀로지: 어느 칩 제조업체가 우위를 점하고 있을까?

Qualcomm Inc

QUALCOMM ORD

Technology company Qualcomm Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) could highlight its diversifying revenue and lowered reliance on the smartphone market when the company reports fourth-quarter financial results Wednesday<a href="https://www.benzinga.com/earnings"> after market close.</a>
Earnings Estimates: Analysts expect Qualcomm to report fourth-quarter revenue of $9.91 billion. That&#8217;s up from last year's fourth-quarter total of $8.67 billion, according to data <a href="https://www.benzinga.com/pro/?utm_source=BZprocontent110524&amp;t=be2bearmibe3na1">from Benzinga Pro.</a>
The company has beaten analyst estimates for revenue in four straight quarters and eight of the last 10 quarters overall.
Read Also: <a href="https://www.benzinga.com/trading-ideas/technicals/24/11/41754570/qualcomm-vs-arm-pre-earnings-semiconductor-showdown">Qualcomm Vs. Arm: Pre-Earnings Semiconductor Showdown</a>
Analysts expect the company to report fourth-quarter earnings per share of $2.56, up from $2.02 in last year's fourth quarter. The company has beaten analyst estimates for earnings per share in five straight quarters. Qualcomm has beaten estimates in eight of the last 10 quarters with two makes and no misses in the stretch.
<a href="https://www.benzinga.com/news/earnings/24/07/40080595/qualcomm-q3-earnings-highlights-revenue-beat-eps-beat-strong-execution-of-our-growth-and-diversific">Guidance from the company</a> calls for fourth-quarter revenue to be in a range of $9.5 billion to $10.3 billion and earnings per share to be in a range of $2.45 to $2.65.
What Analysts Are Saying: Challenges in the smartphone sector continue to be an issue for Qualcomm, JPMorgan analyst Samik Chatterjee said in a new investor note.
"Qualcomm is challenged by the lack of recovery in the smartphone market, which is driving the strength in the smartphone component supply chain in 1H24 led by inventory refill by Chinese smartphone OEMs," Chatterjee said.
The analyst has an Overweight rating and lowered the price target from $210 to $195.
Chatterjee said along with smartphone challenges, Qualcomm faces a loss of revenue to Huawei and adoption of AI PCs and AI smartphones could take time.
The analyst sees potential downside from the upcoming earnings report, even with the stock pulling back in recent weeks.
Sustainable growth and diversified exposure to automotive, industrial IoT and consumer IoT could help re-rate the stock in the future, the analyst said.
A strong fourth quarter from Qualcomm could help deliver a "short cover" rally, Cantor Fitzgerald analyst C.J. Muse said in a new investor note.
"Look for QCOM to offer a beat and modest raise as a result of strength in premium handsets in domestic China and higher ASP with the new Snapdragon AP," Muse said.
The analyst has a Neutral rating on Qualcomm with a $160 price target.
Qualcomm's higher exposure to Samsung and less exposure to mid-tier handsets could lead to better results from the company than peers, the analyst said.
The analyst does have concerns about Qualcomm's potential lost business to Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>).
"Bigger picture, while we applaud the company's diversification efforts, structural concerns regarding the loss of Apple modem biz, China exposure/desire to in-source and expected slow uptake for ARM PC CPU's keep us on the sidelines."
The analyst points to Qualcomm's Automotive and IoT investor day on Nov. 19 as a potential catalyst to hear about financial targets that could help offset the loss of revenue from Apple.
Price Action: Qualcomm stock was up 0.4% to $165.91 on Tuesday versus a 52-week trading range of $118.38 to $230.63. Qualcomm stock is up 18% year-to-date in 2024.
Read Next:<a href="https://www.benzinga.com/news/24/10/41445327/qualcomms-new-chipset-brings-multi-modal-generative-ai-to-android-phones-boosting-competition-with-i"> </a>
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41445327/qualcomms-new-chipset-brings-multi-modal-generative-ai-to-android-phones-boosting-competition-with-i">Qualcomm&#8217;s New Chipset Brings Multi-Modal Generative AI To Android Phones, Boosting Competition With iPhone 16</a></li>
</ul>
Image: Shutterstock

Qualcomm Q4 Earnings Preview: Analysts Expect Beat And Raise; Smartphone Demand, Lost Apple Revenue Bring Cautious Outlook

As Qualcomm Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) and Arm Holdings PLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>) gear up to <a href="https://www.benzinga.com/earnings">release their earnings</a> Wednesday, the two <a href="https://www.benzinga.com/topic/semiconductors">semiconductor giants</a> face bearish technical pressures but diverge in their growth paths. 
<h2 class="wp-block-heading">Qualcomm: Navigating Challenges Amid Bearish Technicals</h2>
Qualcomm, a mainstay in mobile chipsets, faces strong bearish signals.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent110524&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="625" height="454" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/05125732/Screenshot-2024-11-05-at-11.20.50-PM.png" alt="" class="wp-image-630916" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/05125732/Screenshot-2024-11-05-at-11.20.50-PM.png 625w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/05125732/Screenshot-2024-11-05-at-11.20.50-PM-300x218.png 300w" sizes="(max-width: 625px) 100vw, 625px" /></a></figure>
<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent110524&amp;t=be2bearmibe3na1" target="_blank" rel="noreferrer noopener">Chart created using Benzinga Pro</a>
QCOM stock is trading at $165.87, well below its eight, 20, and 50-day simple moving averages. Analysts expect fourth quarter EPS of $2.56 on revenue of $9.91 billion, but the stock's recent bearish signals from technical indicators suggest caution. 
QCOM's MACD (Moving Average Convergence/Divergence) is -0.94, and its RSI (Relative Strength Index) is 45.95, indicating a neutral condition with limited immediate upside potential due to bearish momentum.
Qualcomm's expansion into automotive and IoT markets showcases its strategic shift, but near-term pressures from regulatory concerns and competition—particularly from Apple Inc's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) modem push—continue to cloud investor sentiment.
Read Also: <a href="https://www.benzinga.com/news/earnings/24/10/41652277/amds-ai-data-center-business-booms-ceo-says-its-closed-a-good-part-of-that-gap-with-nvidia">AMD&#8217;s AI Data Center Business Booms: CEO Says It&#8217;s &#8216;Closed A Good Part Of That Gap&#8217; With Nvidia</a>
<h2 class="wp-block-heading">Arm Holdings: Bullish Hints Despite Near-Term Pressures</h2>
Arm, with its IP-licensing model and strong YTD performance, shows resilience amid bearish trends. 
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent110524&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="625" height="454" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/05130141/Screenshot-2024-11-05-at-11.21.49-PM.png" alt="" class="wp-image-630924" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/05130141/Screenshot-2024-11-05-at-11.21.49-PM.png 625w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/05130141/Screenshot-2024-11-05-at-11.21.49-PM-300x218.png 300w" sizes="(max-width: 625px) 100vw, 625px" /></a></figure>
<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent110524&amp;t=be2bearmibe3na1" target="_blank" rel="noreferrer noopener">Chart created using Benzinga Pro</a>
Trading at $139.89, ARM stock is below short-to medium-term SMAs (eight-day at $145.69, 20-day at 148.79, and 50-day at $141.22), signaling a bearish trend prevailing. Moreover, its MACD is a negative 0.23, which reinforces the bearish trend.
However, the 200-day SMA provides support at $131.04, signaling potential long-term strength.
Analysts forecast that the second quarter EPS will be 26 cents on revenue of $808.37 million.
Unlike Qualcomm, Arm's royalty-based model shields it from manufacturing woes, positioning it for growth in high-demand areas like AI, data centers, and IoT.
<h2 class="wp-block-heading">Different Risks, Different Rewards</h2>
While both stocks have bearish technical signals, Qualcomm's cyclicality contrasts with Arm's steadier IP-driven model. Investors eyeing Qualcomm may anticipate a comeback in 5G and automotive, while Arm's appeal lies in its growth as a diversified IP giant. 
This earnings season will be pivotal for both, but the charts suggest caution.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/technicals/24/11/41745935/super-micro-computer-posts-q1-earnings-are-delisting-fears-here-to-stay-or-can-the-stock">Super Micro Computer Posts Q1 Earnings: Are Delisting Fears Here To Stay Or Can The Stock Rebound?</a></li>
</ul>
Photo: Shutterstock

Qualcomm Vs. Arm: Pre-Earnings Semiconductor Showdown

During the last three months, 5 analysts shared their evaluations of Qualcomm (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>), revealing diverse outlooks from bullish to bearish.
The table below provides a snapshot of their recent ratings, showcasing how sentiments have evolved over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $196.0, a high estimate of $230.00, and a low estimate of $160.00. This current average has decreased by 11.31% from the previous average price target of $221.00. 
<img src="https://www.benzinga.com/files/images/story/2024/1730822476_0.png" alt="price target chart" />
<h2>Deciphering Analyst Ratings: An In-Depth Analysis</h2>
The perception of Qualcomm by financial experts is analyzed through recent analyst actions. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Samik Chatterjee</td>
<td>JP Morgan</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$195.00</td>
<td>$210.00</td>
</tr>
<tr>
<td>Christopher Rolland</td>
<td>Susquehanna</td>
<td>Lowers</td>
<td>Positive</td>
<td>$230.00</td>
<td>$250.00</td>
</tr>
<tr>
<td>Christopher Danely</td>
<td>Citigroup</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$185.00</td>
<td>$200.00</td>
</tr>
<tr>
<td>C J Muse</td>
<td>Cantor Fitzgerald</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$160.00</td>
<td>$215.00</td>
</tr>
<tr>
<td>Samik Chatterjee</td>
<td>JP Morgan</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$210.00</td>
<td>$230.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Qualcomm. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Delving into assessments, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings communicate expectations for the relative performance of Qualcomm compared to the broader market.</li>
<li>Price Targets: Analysts provide insights into price targets, offering estimates for the future value of Qualcomm's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Considering these analyst evaluations in conjunction with other financial indicators can offer a comprehensive understanding of Qualcomm's market position. Stay informed and make well-informed decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/QCOM/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Qualcomm analyst ratings.</a>
<h2>Unveiling the Story Behind Qualcomm</h2>
Qualcomm develops and licenses wireless technology and designs chips for smartphones. The company's key patents revolve around CDMA and OFDMA technologies, which are standards in wireless communications that are the backbone of all 3G, 4G, and 5G networks. Qualcomm's IP is licensed by virtually all wireless device makers. The firm is also the world's largest wireless chip vendor, supplying nearly every premier handset maker with leading-edge processors. Qualcomm also sells RF-front end modules into smartphones, as well as chips into automotive and Internet of Things markets.
<h3>Unraveling the Financial Story of Qualcomm</h3>
Market Capitalization Analysis: Falling below industry benchmarks, the company's market capitalization reflects a reduced size compared to peers. This positioning may be influenced by factors such as growth expectations or operational capacity.
Positive Revenue Trend: Examining Qualcomm's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 11.15% as of 30 June, 2024, showcasing a substantial increase in top-line earnings. When compared to others in the Information Technology sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: Qualcomm's net margin is impressive, surpassing industry averages. With a net margin of 22.67%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): Qualcomm's ROE excels beyond industry benchmarks, reaching 8.67%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): Qualcomm's financial strength is reflected in its exceptional ROA, which exceeds industry averages. With a remarkable ROA of 4.02%, the company showcases efficient use of assets and strong financial health.
Debt Management: The company faces challenges in debt management with a debt-to-equity ratio higher than the industry average. With a ratio of 0.59, caution is advised due to increased financial risk.
<h2>The Core of Analyst Ratings: What Every Investor Should Know</h2>
Analyst ratings serve as essential indicators of stock performance, provided by experts in banking and financial systems. These specialists diligently analyze company financial statements, participate in conference calls, and engage with insiders to generate quarterly ratings for individual stocks.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.
Which Stocks Are Analysts Recommending Now?
Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;utm_source=benzinga-insights">Click here to stay ahead of the market</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Breaking Down Qualcomm: 5 Analysts Share Their Views

JP Morgan analyst Samik Chatterjee maintains Qualcomm (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) with a Overweight and lowers the price target from $210 to $195.

JP Morgan Maintains Overweight on Qualcomm, Lowers Price Target to $195

Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) has a Gaudi problem on its hands – the chipmaker revealed that its AI accelerator won't even make $500 million in 2024, falling short of <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41685301/analyst-throws-support-behind-intel-ceo-gelsinger-after-better-than-expected-q3-res">CEO Pat Gelsinger's target</a> of $1 billion to $2 billion.
What Happened: Gelsinger revealed during Intel's third-quarter earnings call that the Gaudi AI accelerator program will fall short of revenue targets due to a transition from second to third generation.
"The overall uptake of Gaudi has been slower than we anticipated as adoption rates were impacted by the product transition from Gaudi 2 to Gaudi 3 and software ease of use," Gelsinger said.
"As a result, we will not achieve our target of 500 million in revenue for Gaudi in 2024. That said, taking a longer term view, we remain encouraged by the market available to us."
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
This comes at a critical time for Intel – the iconic chipmaker's stock is down nearly 55% in 2024 so far, which has drawn attention from rival Qualcomm Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>), which is <a href="https://www.benzinga.com/news/24/09/40968128/qualcomm-reportedly-eyes-potential-takeover-of-intel-amid-60-stock-decline-but-antitrust-concerns-lo">reportedly eyeing a takeover of Intel</a>.
While it is not clear if this will eventually materialize, it points to a weak phase that Intel is going through.
Three of the biggest chip makers – Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Intel, and Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) – all have their respective data center business segments which have gained traction in 2023.
See Also: <a href="https://www.benzinga.com/markets/equities/24/10/41328252/apples-iphone-16-powers-record-sales-in-q3-just-behind-samsung-in-global-market-share-battle">Apple&#8217;s iPhone 16 Powers Record Sales In Q3, Just Behind Samsung In Global Market Share Battle</a>
While Intel led in 2022, the company's data center revenue started declining in 2023, coinciding with Nvidia's rise. On the other hand, 2022 and 2023 were both lukewarm for AMD, but it started gathering pace in the fourth quarter of 2023.
Here's how Nvidia, Intel, and AMD's data center business has performed since 2022.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Period</td>
<td>Nvidia</td>
<td>Intel</td>
<td>AMD</td>
</tr>
<tr>
<td>Q1 2022</td>
<td>$3.8B</td>
<td>$6.1B</td>
<td>$1.3B</td>
</tr>
<tr>
<td>Q2 2022</td>
<td>$3.8B</td>
<td>$4.7B</td>
<td>$1.5B</td>
</tr>
<tr>
<td>Q3 2022</td>
<td>$3.8B</td>
<td>$4.4B</td>
<td>$1.6B</td>
</tr>
<tr>
<td>Q4 2022</td>
<td>$3.6B</td>
<td>$4.6B</td>
<td>$1.7B</td>
</tr>
<tr>
<td>Q1 2023</td>
<td>$4.3B</td>
<td>$3.7B</td>
<td>$1.3B</td>
</tr>
<tr>
<td>Q2 2023</td>
<td>$10.3B</td>
<td>$4.0B</td>
<td>$1.3B</td>
</tr>
<tr>
<td>Q3 2023</td>
<td>$14.5B</td>
<td>$3.8B</td>
<td>$1.6B</td>
</tr>
<tr>
<td>Q4 2023</td>
<td>$18.4B</td>
<td>$4B</td>
<td>$2.3B</td>
</tr>
<tr>
<td>Q1 2024</td>
<td>$22.6B</td>
<td>$3B</td>
<td>$2.3B</td>
</tr>
<tr>
<td>Q2 2024</td>
<td>$26.3B</td>
<td>$3B</td>
<td>$2.8B</td>
</tr>
<tr>
<td>Q3 2024</td>
<td>TBA</td>
<td>$3.3B</td>
<td>$3.5B</td>
</tr>
</tbody>
</table>
</figure>
Source: Nvidia, Intel, and AMD &#x7C; Nvidia's Q3 2024 results have not been announced yet.
Nvidia Rides AI Boost: Unsurprisingly, Nvidia's stock has also massively benefited from its dominance in AI chips – the Jensen Huang-led company has risen to the top, dethroning Apple on multiple occasions to become the world's most valuable company by market capitalization.
Nvidia's current market capitalization stands at $3.256 trillion, while Intel's is $92.73 billion and AMD's is $233.8 billion.
Gelsinger maintained an optimistic outlook, saying&nbsp;"We remain encouraged by the market available to us. There is a clear need for solutions with superior [total cost of ownership] based on open standards, and we are continuing to enhance the Gaudi value proposition."
For the quarter that just ended, Intel reported $13.28 billion in revenue, beating Street estimates of $13.02 billion.
Price Action: Intel's shares were up 6.8% in premarket trading on Friday at $22.98, according to Benzinga Pro data.
Nvidia's stock was up 1.1% at $134.27, while AMD stock was up 0.6% at $144.99.
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/23/12/36199410/nvidias-ai-chips-eat-intels-lunch-heres-how-much-more-youd-have-made-if-you-invested-1-000-in-je">Nvidia&#8217;s AI Chips Eat Intel&#8217;s Lunch: Here&#8217;s How Much More You&#8217;d Have Made If You Invested $1,000 In Jensen Huang&#8217;s Company Instead Of Intel In 2023</a></li>
</ul>
Photos courtesy: Shutterstock

Equities

Markets

Intel Says It Won't Even Make $500M From Gaudi AI Chips In 2024 Despite Nvidia Minting Billions: CEO Gelsinger Says Uptake 'Slower Than We Anticipated'

WIIM

AMAT

ENTG

KLAC

LRCX

MCHP

MRVL

NXPI

SWKS

Shares of semiconductor stocks are trading lower. The sector may be under pressure following recent earnings from multiple companies in the sector.

ASML

AVGO

LSCC

RMBS

SIMO

TSEM

Shares of chip stocks are trading lower. The sector may be under pressure after AMD and Qorvo fell on their respective earnings reports and outlook. Additionally, SMCI may be causing sector uncertainty after its independent auditor resigned.

In the days leading up to Apple Inc's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41583865/what-to-expect-from-apples-fq4-earnings">highly-anticipated earnings report</a>, a lesser-known stock sent a warning signal to investors regarding the iPhone maker. 
Qorvo Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QRVO#NASDAQ">QRVO</a>), which provides parts for smartphones, reported lower-than-expected as part of its earnings report, raising concerns about Apple's iPhone sales.
What Does Qorvo Do? Qorvo is a key supplier for Apple, providing parts for iPhones, iPads and Apple Watches. Apple buys wireless chips, antenna equipment and ultra-wideband technology from Qorvo. A significant portion of Qorvo's revenue comes from its partnership with Apple.
Qorvo's Report: While Qorvo beat Street estimates on both EPS and revenue, the supplier reported lower-than-expected guidance, which sent the stock tumbling. Qorvo's CFO, Grant Brown, said that he expects revenue and gross margin to be lower in FY25 compared to FY24.
"Looking forward, the flagship and premium tiers in the smartphone market are holding up well, however, content and ramp profiles vary by model, and we are experiencing unfavorable mix," Brown said on the earnings call. "We expect this to continue in the second half of fiscal 2025."
Read Also: <a href="https://www.benzinga.com/markets/asia/24/10/41616953/apple-wants-to-see-if-it-can-build-iphone-17-from-scratch-in-india-report">Apple Wants To See If It Can Build iPhone 17 From Scratch In India: Report</a>
Due to this &#8220;unfavorable mix&#8221;and lower guidance, Qorvo's stock tumbled more than 20% Wednesday morning. Apple shares held up relatively well compared to Qorvo, taking a hit of less than 1%.
An analyst at Benchmark, Cody Acree, lowered his rating on Qorvo from Buy to Hold and removed the price target following the report, <a href="https://www.barrons.com/articles/qorvo-earnings-stock-price-a88b7b64">according</a> to Barron&#8217;s. Consumers are opting for less profitable entry-tier smartphones compared to more profitable premium and mid-tier phones, explaining Qorvo's weak guidance, the analyst reportedly said.<a href="https://www.barrons.com/articles/qorvo-earnings-stock-price-a88b7b64"> </a>
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
<div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Mixed Bag Market &#x7C; PreMarket Prep" width="500" height="281" src="https://www.youtube.com/embed/jrO5KQf8Azo?start=2968&#038;feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
Benzinga's PreMarket Prep, a daily show broadcast to YouTube covering the most significant headlines moving the markets, covered Qorvo's report on Wednesday morning's show.
PreMarket Prep co-host and professional trader Dennis Dick highlighted weakness in other Apple suppliers, as well as Apple's resilience despite seemingly negative headlines.
&#8220;Apple shrugs it off once again," Dick said.
"This stock is the honey badger stock of all stocks. The news flow has been terrible on Apple, it's had a lot of bad news in the last little while. At least rumors that the iPhone wasn't selling, they're talking about the Vision Pro, that's gone really south, then you had the downgrade from KeyBanc last week, they shrugged that off too." Dick said Skyworks Solutions (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWKS#NASDAQ">SWKS</a>), Broadcom Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) and Qualcomm Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) are other Apple suppliers showing weakness Wednesday morning following Qorvo's report. Bucking The Trend: Not all Apple suppliers appear to be in the dumps. Corning Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLW#NYSE">GLW</a>), the main glass supplier for Apple's iPhones and iPads, reported stronger-than-expected earnings Tuesday morning, paired with strong guidance. Corning's positive report could be a potential explanation for Apple's resilience despite the disappointing numbers from Qorvo. Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41607481/apples-refreshes-mac-mini-smaller-form-factor-m4-chip-power-and-carbon-neutral">Apple Refreshes Mac Mini: Smaller Form Factor, M4 Chip Power, Carbon Neutral</a></li>
</ul>

Movers

QRVO

An Obscure Stock Sends A Warning To Apple - And The Stock Market

Investors on Wall Street seem upbeat as the index futures point to a positive start on Wednesday despite ending the previous session on a mixed note.
Search and advertising giant Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) kicked off the highly anticipated tech earnings week on a strong note. The Sundar Pichai-led company <a href="https://www.benzinga.com/news/earnings/24/10/41611263/alphabet-q3-earnings-highlights-revenue-beat-eps-beat-google-cloud-up-35-momentum-across-the-compan">posted strong momentum across verticals</a>, beating revenue and earnings per share (EPS) expectations.
Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), on the other hand, fell 8% in premarket trading after the chipmaker's <a href="https://www.benzinga.com/news/earnings/24/10/41612007/amd-q3-earnings-revenue-beat-eps-in-line-data-center-up-122-significant-growth-opportunities-ahead-">fourth-quarter guidance</a> disappointed investors. That said, AMD beat revenue expectations in Q3.
The remaining four of the "Magnificent 7" companies will post their earnings this week – this includes Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), and Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>).
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>0.16%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>0.19%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>0.03%</td>
</tr>
<tr>
<td>R2K</td>
<td>-0.16%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Monday, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 0.20% to $582.95 and the Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) gained 0.15% to $500.90, according to<a href="https://benzinga.grsm.io/lxquj26b2sag"> Benzinga Pro data</a>.
Cues From Last Session:
Investors remained cautious, with most sectors on the S&amp;P 500 index closing the day in the red. &nbsp;However, information technology and communication services stocks bucked the overall market trend, closing the session higher.
Crude oil prices remained tentative and kept their levels after tumbling over the weekend due to Israel's missile strikes on Iran.
Treasury yields eased slightly on Tuesday after running up over the past week. However, a possible re-election of former President Donald Trump could keep the bond yields elevated due to an increased fear of higher deficits, according to WisdomTree and Wharton School economist Jeremy Siegel.
Besides, the International Monetary Fund has also warned about the long-term trajectory <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41495286/deficit-strain-in-washington-will-get-worse-imf-warns-national-debt-projections-rev">of U.S. national debt</a>
Tech stocks helped the Nasdaq Composite index surge to a new all-time high.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>0.78%</td>
<td>18,712.75</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>0.16%</td>
<td>5,832.92</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>-0.36%</td>
<td>42,233.05</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-0.27%</td>
<td>2,238.09</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
Ryan Detrick, Chief Market Strategist at Carson Group, highlighted that November is the "best month of the year" as far as equity markets are concerned.
"The last time it fell more than 1% was in 2008, and it has been higher in 11 of the past 12 years. Not to be outdone, it is the best month since 1950, in the past decade, and in election years, while it ranks as the second-best month in the past 20 years (only July is better)."
Detrick <a href="https://www.carsongroup.com/insights/blog/seven-reasons-this-bull-market-is-alive-and-well/">added</a> that the bull market is here to stay. After experiencing a bull run for the past three years, the expert highlighted that "the potential for many more years of gains is actually quite high."
That said, he explains that while it's not clear how long this rally will last, investors should be open to the possibility that there's more gas left in the tank.
Mike Mayo, Wells Fargo Securities managing director, <a href="https://www.cnbc.com/video/2024/10/29/wells-fargos-mike-mayo-heres-why-financials-will-benefit-no-matter-who-wins-the-election.html">told</a> CNBC in an interview that regardless of who wins the 2024 presidential election, financials stocks will benefit.
"Wall Street likes certainty over uncertainty," Mayo said, referring to the rules on stress tests and other parameters to measure the health of financial institutions.
"The second thing is common sense regulation. You've already seen this put in place by the current administration… they rolled back the 1000-page report on capital changes."
On the economic data front, the S&amp;P CoreLogic Case-Shiller home price index rose 5.2% year-over-year in August versus a 5.9% gain in July.
U.S. wholesale inventories declined by 0.1% month-over-month to $905 billion in September compared to a revised 0.2% gain in the earlier month.
The U.S. trade deficit increased to $108.2 billion in September from the $94.2 billion gap in the previous month.
See Also: <a href="https://www.benzinga.com/money/best-futures-trading-software">Best Futures Trading Software</a>
Upcoming Economic Data:
<ul>
<li>Mortgage Market and Refinance indices will be released at 7 a.m. ET.</li>
<li>ADP employment numbers will be released at 8:15 a.m. ET.</li>
<li>The preliminary GDP print is scheduled to be released at 8:30 a.m. ET.</li>
<li>Pending home sales data is scheduled to be released at 10 a.m. ET.</li>
<li>Crude oil inventories data will be released at 10:30 a.m. ET.</li>
</ul>
Stocks In Focus:
<ul>
<li>Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) shares surged nearly 6% in premarket trading after the search giant reported an AI-powered boost in its revenue in Q3, which beat expectations and surged 15% year-on-year.</li>
<li>Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) stock felt the pressure, falling 8% in premarket trading after its Q4 revenue guidance fell short of expectations. Other chipmakers, Qualcomm Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) and Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) felt the pressure, too, falling 5% and 0.3% in premarket, respectively.</li>
<li>Snap Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>) shares surged 1.5% in premarket after the company posted slightly better-than-expected revenue, aided by AI.</li>
<li>Reddit Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDDT#NYSE">RDDT</a>) shares jumped nearly 24% after the social media company handily beat revenue expectations thanks to its data licensing and advertising sales.</li>
<li>Chewy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHWY#NYSE">CHWY</a>) shares were down 1.8% in premarket after "Roaring Kitty" Keith Gill reported in a securities filing that he does not hold a stake in the company anymore.</li>
<li>Investors are awaiting earnings results from Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Starbucks Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>), Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), and Robinhood Markets Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) today.</li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil futures gained in the early New York session, rising 1.03% as preliminary data showed a decline in U.S. inventory levels.
The benchmark 10-year Treasury note yield declined marginally to 4.22%.
Most Asian markets closed in the red on Wednesday, with Chinese markets falling the most, while Japan's Nikkei 225 gained.
European stocks were mostly lower in early trading.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41619340/blackrocks-larry-fink-warns-against-overly-optimistic-fed-rate-cuts-cites-high-embedded-inflation-an">BlackRock&#8217;s Larry Fink Warns Against Overly Optimistic Fed Rate Cuts, Cites High &#8216;Embedded Inflation&#8217; And Predicts Only 1 Reduction This Year</a></li>
</ul>
Photo courtesy: Wikimedia

Earnings

Futures

Economics

Federal Reserve

Pre-Market Outlook

AMZN

CHWY

COIN

GOOG

GOOGL

HOOD

RDDT

SBUX

SNAP

US Stocks Likely To Open Higher As Investors Eye GDP Print, Strong Alphabet Results To Kick Off 'Mag 7' Earnings Week: Strategist Flags November As 'Best Month Of The Year' For Markets

Intel Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) announced plans to expand its chip packaging and testing facility in Chengdu, affirming its commitment to the mainland market despite a recent cybersecurity review recommended by a Beijing-backed group.
China remains Intel&#8217;s largest market, contributing 27% of its revenue in 2023, surpassing the 26% from the U.S.
The expanded facility will enhance server chip packaging and testing capabilities while adding a &#8220;customer solutions center&#8221; to boost supply chain efficiency, better support Chinese customers, and reduce response times, SCMP <a target="_blank" href="https://www.scmp.com/tech/big-tech/article/3284195/intel-invests-us300-million-china-chip-packaging-and-testing-plant" rel="noreferrer noopener">cites</a> Intel China&#8217;s WeChat post.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/10/41579787/whats-going-on-with-trump-media-technology-group-stock-on-monday" rel="noreferrer noopener">What&#8217;s Going On With Trump Media &amp; Technology Group Stock On Monday?</a>
SCMP cites the city&#8217;s Reform and Development Commission&#8217;s WeChat post as stating that Intel will invest $300 million in its Chengdu-based entity, Intel Products (Chengdu), to fund the expansion.
Since its launch in 2003, Intel&#8217;s Chengdu plant has packaged and tested over half of its global laptop processors.
This stage, essential in semiconductor manufacturing, ensures product quality and reliability.
This expansion follows closely after the Cyber Security Association of China <a target="_blank" href="https://www.benzinga.com/news/24/10/41383055/china-launches-probe-into-intel-cites-national-security-risks-amid-trade-tensions-with-us" rel="noreferrer noopener">recommended reviewing Intel</a> products sold domestically, pointing to past vulnerabilities in Intel&#8217;s central processors.
China&#8217;s retaliation follows the U.S.&#8217;s artificial intelligence technology sanctions on China, restricting the country from accessing high-end AI chips from Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and peers, citing national security concerns.
Intel recently reported a $1.6 billion second-quarter loss after a $1.5 billion profit the previous year, mainly due to softened demand in consumer and enterprise sectors, particularly in China.
Intel stock plunged over 52% year-to-date as it failed to capitalize on the enterprises&#8217; AI shift.
KeyBanc analyst John Vinh highlighted Intel&#8217;s server <a target="_blank" href="https://www.benzinga.com/government/24/10/41358664/whats-going-on-with-intel-stock-wednesday" rel="noreferrer noopener">market share decline</a> to Advanced Micro Devices, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>). He also noted Intel&#8217;s absence of a budget-friendly AI CPU for mainstream AI PCs and the growth of Nvidia Corp&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) Blackwell as additional challenges for Intel.
<a target="_blank" href="https://www.benzinga.com/m-a/24/08/40648165/intel-weighs-major-business-split-factory-delays-amid-strategic-review-report" rel="noreferrer noopener">Reports indicated Intel</a> is weighing strategic options, such as separating its product design and manufacturing divisions. The plan may also involve canceling factory projects and exploring mergers and acquisitions.
Qualcomm Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) recently postponed its strategic bid for Intel until after the November presidential election, a critical factor amid ongoing antitrust scrutiny and geopolitical issues with China.
Investors can gain exposure to Intel through Invesco QQQ Trust, Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) and SPDR S&amp;P 500 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>).
Price Action: INTC stock is up 0.70% at $23.08 at the last check on Tuesday.
Also Read:
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41580089/alibaba-becomes-key-holding-in-chinese-fund-managers-portfolio-economic-measures-spark-interest-in-l" target="_blank" rel="noreferrer noopener">Alibaba Becomes Key Holding in Chinese Fund Manager&#8217;s Portfolio, Economic Measures Spark Interest in Leading Tech</a></li>
</ul>
Photo by Tada Images via Shutterstock

Government

Regulations

Emerging Markets

Media

Intel Strengthens Ties with China, Invests $300 Million to Expand Chip Operations

Qualcomm (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) has outperformed the market over the past 5 years by 1.93% on an annualized basis producing an average annual return of 15.6%. Currently, Qualcomm has a market capitalization of $192.21 billion. 
Buying $1000 In QCOM: If an investor had bought $1000 of QCOM stock 5 years ago, it would be worth $2,144.95 today based on a price of $172.54 for QCOM at the time of writing.
<h3>Qualcomm's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1730131212_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much $1000 Invested In Qualcomm 5 Years Ago Would Be Worth Today

Rupert Murdoch's Dow Jones and the&nbsp;New York Post have initiated legal proceedings against&nbsp;Jeff Bezos-backed AI firm&nbsp;Perplexity, alleging unauthorized use of their content and <a target="_blank" href="https://www.benzinga.com/news/24/10/41442679/rupert-murdochs-dow-jones-new-york-post-sue-jeff-bezos-backed-perplexity-for-copyright-infringement" rel="noreferrer noopener">redirection of traffic to its platforms</a>.
Entertainment
Walt Disney Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) has ceased allowing customers to subscribe to Hulu and Disney+ via Apple Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) App Store, thereby avoiding the iPhone <a target="_blank" href="https://www.benzinga.com/general/entertainment/24/10/41443702/disney-and-hulu-stream-away-from-apples-30-toll-bridge-what-it-means-for-the-iphone-maker" rel="noreferrer noopener">maker's in-app purchase fees</a>.
Netflix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) has shut down its Southern California AAA game studio, Team Blue, marking a significant <a target="_blank" href="https://www.benzinga.com/general/gaming/24/10/41462659/netflix-ends-aaa-game-development-at-california-studio" rel="noreferrer noopener">shift in its&nbsp;gaming ambitions</a>.
Gaming
Ahead of Call of Duty: Black Ops 6's release,&nbsp;Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) Activision has announced a new anti-cheat initiative aimed at removing cheaters from the game within <a target="_blank" href="https://www.benzinga.com/general/gaming/24/10/41435803/activisions-new-ai-strategy-aims-to-ban-call-of-duty-cheaters-within-one-hour-of-their-first-match" rel="noreferrer noopener">one hour&nbsp;of their first match</a>.
Insomniac Games has announced that&nbsp;Marvel&#8217;s Spider-Man 2&nbsp;will not receive any additional story content, effectively ending fan hopes <a target="_blank" href="https://www.benzinga.com/general/gaming/24/10/41438398/insomniac-games-confirms-no-additional-story-add-ons-for-marvels-spider-man-2" rel="noreferrer noopener">for&nbsp;downloadable content (DLC)</a>.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/esg/24/10/41426513/plug-power-evgo-enovix-analyst-clean-tech-picks-for-navigating-election-exposure-hedging-uncertainty" rel="noreferrer noopener">Plug Power, EVgo, Enovix: Analyst Clean Tech Picks For Navigating Election Exposure, Hedging Uncertainty</a>
Tencent Holding Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCEHY#OTC">TCEHY</a>) is set to launch the global open beta for Delta Force: Hawk <a target="_blank" href="https://www.benzinga.com/general/gaming/24/10/41464208/tencents-delta-force-hawk-ops-open-beta-to-launch-in-december-taking-aim-at-call-of-duty" rel="noreferrer noopener">Ops on PC&nbsp;starting December 5</a>.
Read: <a target="_blank" href="https://www.benzinga.com/news/24/10/41420451/openais-chinese-cousins-alibaba-and-bytedance-are-slashing-ai-costs-and-defying-us-chip-sanctions-be" rel="noreferrer noopener">OpenAI&#8217;s Chinese Cousins Alibaba, And ByteDance Are Slashing AI Costs And Defying US Chip Sanctions: Beijing&#8217;s Strength Is To &#8216;Build Fast, Build Reliably And Build Cheap&#8217;</a>
Naughty Dog has rolled out significant updates for The Last of Us Part 1 and The Last of Us Part 2 Remastered on <a href="https://www.benzinga.com/general/gaming/24/10/41466239/naughty-dogs-the-last-of-us-games-prepped-for-ps5-pro-with-4k-support" target="_blank" rel="noreferrer noopener">Sony Group Corporation</a><a href="https://www.benzinga.com/general/gaming/24/10/41466239/naughty-dogs-the-last-of-us-games-prepped-for-ps5-pro-with-4k-support" target="_blank" rel="noreferrer noopener">'s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SONY#NYSE">SONY</a>) PlayStation 5</a>.
Technology &amp; Smartphones
QUALCOMM Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) unveiled its latest high-end smartphone SoC, the&nbsp;Snapdragon 8 Elite, which boasts a new Oryon CPU <a target="_blank" href="https://www.benzinga.com/news/24/10/41445327/qualcomms-new-chipset-brings-multi-modal-generative-ai-to-android-phones-boosting-competition-with-i" rel="noreferrer noopener">and enhanced AI capabilities</a>.
QUALCOMM has been threatened by Arm Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>) with the cancelation of its chip design license, leaving the San Diego-based<a target="_blank" href="https://www.benzinga.com/markets/equities/24/10/41481425/softbank-backed-arm-threatens-to-cancel-qualcomms-chip-design-license-ahead-of-trial-in-december" rel="noreferrer noopener"> semiconductor giant with 60 days&#8217; notice</a>.
NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) quietly introduced a new AI model, Llama-3.1-Nemotron-70B-Instruct, that has reportedly outperformed <a target="_blank" href="https://www.benzinga.com/news/24/10/41422278/nvidias-new-free-open-source-ai-model-reportedly-outperforms-openais-gpt-4o-anthropics-claude-3-5-so" rel="noreferrer noopener">its competitors in benchmark tests</a>.
Indian billionaire&nbsp;Mukesh Ambani joined&nbsp;NVIDIA&#8216;s CEO&nbsp;Jensen Huang for a fireside chat in Mumbai on Thursday as the latter addressed the Nvidia AI Summit India <a target="_blank" href="https://www.benzinga.com/markets/asia/24/10/41509500/nvidia-ceo-jensen-huang-meets-indian-billionaire-mukesh-ambani-duo-forge-partnership-to-build-ai-inf" rel="noreferrer noopener">at the city&#8217;s Jio World Convention Centre</a>.
The duo discussed India&#8217;s information technology industry, which Huang said was world-renowned for its large-scale presence and deep expertise. In the past few years, 200,000 IT professionals have been <a target="_blank" href="https://www.benzinga.com/markets/asia/24/10/41509500/nvidia-ceo-jensen-huang-meets-indian-billionaire-mukesh-ambani-duo-forge-partnership-to-build-ai-inf" rel="noreferrer noopener">upscaled to work with AI</a>.
Chinese tech giant&nbsp;ByteDance Ltd.&nbsp;has dismissed an intern for allegedly disrupting the training of <a target="_blank" href="https://www.benzinga.com/news/24/10/41422474/tiktok-parent-fires-intern-for-maliciously-interfering-with-ai-training-denies-10m-damage-claims-ami" rel="noreferrer noopener">one of its artificial intelligence models</a>.
Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is reportedly scaling back production of its $3,500 Vision Pro headset, shifting focus <a target="_blank" href="https://www.benzinga.com/general/gaming/24/10/41499682/apple-to-cut-vision-pro-production-cheaper-model-expected-in-2025-report" rel="noreferrer noopener">toward a more affordable model for 2025</a>.
Artificial Intelligence
OpenAI&nbsp;rival&nbsp;Anthropic&nbsp;has unveiled an upgrade to its its AI model Claude 3.5 Sonnet along with introducing a new model, Claude 3.5 Haiku. The Claude 3.5 Sonnet model introduces a groundbreaking feature that allows it to interact with<a target="_blank" href="https://www.benzinga.com/news/24/10/41481214/now-ai-can-operate-computers-like-humans-openai-rival-backed-by-google-unveils-claude-upgrades-amid" rel="noreferrer noopener"> computers in a human-like manner</a>.
Marc Benioff, CEO of Salesforce, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>), took to social media to criticize Microsoft for <a href="https://www.benzinga.com/news/24/10/41444585/copilots-a-flop-because-microsoft-lacks-the-data-salesforce-ceo-slams-rebranding-of-ai-tool-to-agent" target="_blank" rel="noreferrer noopener">rebranding its Copilot as "agents."</a>
In a recent development,&nbsp;Character.AI&nbsp;has issued a public apology following the tragic death by suicide of a 14-year-old boy who had been interacting with their chatbot. The company has acknowledged the incident and announced updates to<a target="_blank" href="https://www.benzinga.com/news/24/10/41491088/ai-chatbot-maker-publicly-apologizes-after-teens-death-in-florida" rel="noreferrer noopener"> enhance the safety measures on their platform</a>.
Read: <a target="_blank" href="https://www.benzinga.com/news/24/10/41420671/mark-zuckerberg-or-elon-musk-openai-ceo-sam-altman-says-hed-back-this-tech-titan-in-a-cage-fight" rel="noreferrer noopener">Mark Zuckerberg Or Elon Musk? OpenAI CEO Sam Altman Says He&#8217;d Back This Tech Titan In A Cage Fight</a>

Consumer Tech News (Oct 21-Oct 25): Apple May Scale Back Production Of Vision Pro Headset, Netflix Restructures Gaming Division

Shares of semiconductor and chip stocks are trading higher. Strength may be in sympathy with Western Digital, which reported a Q1 earnings beat. Additionally, tech stocks may be up amid a drop in yields.

Chip stocks, including Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Advanced Micro Devices, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), Broadcom Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>), Micron Technology, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>), Taiwan Semiconductor Manufacturing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>), Intel Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>), Monolithic Power Systems, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MPWR#NASDAQ">MPWR</a>), Marvell Technology, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>) and ON Semiconductor Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>), are trading higher Friday.
The move is in sympathy with Western Digital Corp&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDC#NASDAQ">WDC</a>) rally following its upbeat quarterly print.
On Thursday, Western Digital reported <a target="_blank" href="https://www.benzinga.com/news/earnings/24/10/41531805/western-digital-shares-rally-after-q1-results-eps-beat-revenues-miss" rel="noreferrer noopener">first-quarter EPS</a> of $1.78, which beat the analyst consensus of $1.73. Quarterly revenue of $4.09 billion trailed the consensus estimate of $4.12 billion compared to $2.75 billion a year ago.
Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41339315/nvidia-and-intel-competition-threaten-amds-growth-analyst-says" rel="noreferrer noopener">Nvidia and Intel Competition Threaten AMD&#8217;s Growth, Analyst Says</a>
Western Digital expects second-quarter revenue of $4.2 billion-$4.4 billion, versus the $4.35 billion estimate, and adjusted EPS of $1.75-$2.05, versus the $1.95 estimate.
KeyBanc analyst John Vinh <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41235547/nvidia-amd-lead-the-pack-broadcom-stable-intel-falters-analysts-latest-take" rel="noreferrer noopener">recently flagged mixed performance</a> in the semiconductor supply chain, revising several estimates and price targets. Despite weak analog markets, he cited signs of recovery in automotive and robust demand in traditional servers and AI, with Nvidia&#8217;s Blackwell launch on track for the fourth quarter.
Vinh downgraded Qualcomm Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) and Synaptics Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SYNA#NASDAQ">SYNA</a>) to Sector Weight, pointing to Qualcomm&#8217;s market share loss to MediaTek due to price competition and Synaptics&#8217; challenges in IoT against local competitor HiSilicon.
He highlighted Nvidia and AMD positively for their robust AI and server demand, whereas Micron, Monolithic Power, Marvell, and Intel face headwinds from market share losses and intensifying competition.
<h2 class="wp-block-heading">Western Digital Stock Prediction For 2024</h2>
Equity research can be a valuable source of information for learning about a company's fundamentals. Analysts create financial models based on the fundamentals and expected future earnings of a company to arrive at a price target and recommendation for the stock.
Shares of Western Digital have an average 1-year price target of $92.07, representing an expected upside of 27.01%.
Because of differences in assumptions, analysts can arrive at very different price targets and recommendations. No analysts have bearish recommendations on Western Digital, while 12 analysts have bullish ratings. The street high price target from Rosenblatt is $115.0, while the street low from Susquehanna is $75.0.
Price Actions: At last check Friday, NVDA stock was up 2.13% at $143.33. AMD stock is up 3.09%, AVGO stock is up 2.47%, MU is up 2.80%, TSM is up 2.64%, ON is up 3.17%, and INTC stock is up 3.69%.
Also Read:
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41357485/intel-partners-with-amd-to-counter-arms-rising-dominance-in-computing" target="_blank" rel="noreferrer noopener">Intel Partners With AMD To Counter Arm&#8217;s Rising Dominance in Computing</a></li>
</ul>
Photo via Shutterstock

MPWR

SYNA

What's Going On With Nvidia, AMD And Other Chip Stocks On Friday?

<a href="https://www.qualcomm.com/news/releases/2024/10/qualcomm-and-mistral-ai-partner-to-bring-new-generative-ai-model">https://www.qualcomm.com/news/releases/2024/10/qualcomm-and-mistral-ai-partner-to-bring-new-generative-ai-model</a>
 Highlights:
<ul>
<li>Qualcomm announces collaboration with Mistral AI to bring Mistral AI's models to devices powered by Snapdragon and Qualcomm platforms.</li>
<li>Mistral AI's new state-of-the-art models, Ministral 3B and Ministral 8B, are being optimized to run on devices powered by the new Snapdragon 8 Elite Mobile Platform, Snapdragon Cockpit Elite and Snapdragon Ride Elite, and Snapdragon X Elite Compute Platform.</li>
<li>Mistral 7B v0.3 is currently available on the Qualcomm AI Hub and Ministral 3B and Ministral 8B will be coming soon.</li>
</ul>
At Snapdragon Summit, Qualcomm Technologies, Inc. today announced its collaboration with Mistral AI to bring Mistral AI's new state-of-the-art generative AI models, <a href="https://mistral.ai/news/ministraux/">Ministral 3B and Ministral 8B</a>, to devices powered by the Snapdragon&#xAE; 8 Elite Mobile Platform, Snapdragon&#xAE; Cockpit Elite and Snapdragon Ride&#x2122; Elite for automotive applications, and Snapdragon&#xAE; X Series Compute Platforms for AI PCs. Ministral 3B and Ministral 8B are Mistral AI's first premier, commercial AI model designed specifically for on-device use.
Mistral AI's Ministral 3B and Ministral 8B are compact yet powerful, making them ideal for running within devices such as smartphones, vehicles, PC's, and more. Running generative AI on devices offers numerous benefits, including enhanced privacy, lower latency, reliability, cost savings, and energy efficiency.
"We are thrilled to announce our collaboration with Mistral AI to help achieve our goal of empowering devices at the edge with the latest advancements in AI technology," said Durga Malladi, senior vice president and general manager of technology, planning and edge solutions, Qualcomm Technologies, Inc. "Mistral AI's Ministral 3B and Ministral 8B will enable device manufacturers, software vendors, and digital service providers to deliver innovative experiences, such as AI assistants and other applications that understand users' wants and needs, thanks to the immediacy, reliability, and enhanced privacy of on-device AI."
"This collaboration with Qualcomm Technologies is a significant milestone for Mistral AI, demonstrating the ability of our new models to run locally on devices powered by Snapdragon platforms, resulting in faster local processing that can help reduce cost and energy demands," said Arthur Mensch, co-founder and CEO of Mistral AI. "Together, we are democratizing access to advanced AI, empowering developers and users worldwide to experience the full potential of our models right on their devices."
The parties are collaborating to bring Ministral 3B and Ministral 8B to developers soon via the Qualcomm&#xAE; AI Hub. Developers can currently access other popular Mistral AI models on the Qualcomm AI Hub, including Mistral 7B v0.3, empowering developers and users to leverage Mistral AI's advanced capabilities. To learn more about Mistral AI, visit <a href="http://www.mistral.ai/">www.mistral.ai</a>. Additional information, livestream replays and event content are also available on the <a href="https://www.qualcomm.com/company/events/snapdragon-summit?mkt_tok=Mzg1LVRXUy04MDMAAAGWUeRSPXROouBOwYsyDDfjsbQeyFJPSbUSOfjccZZgeHRuUgZNFa-48DK1o4tkVWXVeVIXxaqxiEdSj5dwoo0">Snapdragon Summit Event Hub</a>.

'Qualcomm And Mistral AI Partner To Bring New Generative AI Models To Edge Devices'

Qualcomm shares are trading lower on reports suggesting Arm threatened to cancel its chip design license with the company.

<a href="https://x.com/mingchikuo/status/1849147499136836037" title="https://x.com/mingchikuo/status/1849147499136836037">https://x.com/mingchikuo/status/1849147499136836037</a>

Analyst Ming-Chi Kuo Post On X, "I believe the likelihood of ARM canceling Qualcomm's license is extremely low. Such a move would be mutually destructive, with no winners. This dispute is likely to end in some form of settlement."

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Here's the list of options activity happening in today's session: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>NVDA</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/25/24</td>
<td>$140.00</td>
<td>$28.8K</td>
<td>55.8K</td>
<td>194.3K</td>
</tr>
<tr>
<td>AAPL</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/25/24</td>
<td>$232.50</td>
<td>$37.9K</td>
<td>11.3K</td>
<td>47.8K</td>
</tr>
<tr>
<td>MARA</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/01/24</td>
<td>$19.00</td>
<td>$73.5K</td>
<td>10.8K</td>
<td>11.8K</td>
</tr>
<tr>
<td>PSTG</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$55.00</td>
<td>$57.3K</td>
<td>3.3K</td>
<td>1.6K</td>
</tr>
<tr>
<td>CLSK</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/01/24</td>
<td>$11.50</td>
<td>$55.1K</td>
<td>649</td>
<td>1.4K</td>
</tr>
<tr>
<td>TSM</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$200.00</td>
<td>$161.4K</td>
<td>16.0K</td>
<td>1.3K</td>
</tr>
<tr>
<td>MSFT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$430.00</td>
<td>$159.9K</td>
<td>4.9K</td>
<td>1.3K</td>
</tr>
<tr>
<td>NET</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>11/15/24</td>
<td>$115.00</td>
<td>$44.9K</td>
<td>1.5K</td>
<td>1.2K</td>
</tr>
<tr>
<td>QCOM</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/01/24</td>
<td>$170.00</td>
<td>$368.9K</td>
<td>1.7K</td>
<td>1.2K</td>
</tr>
<tr>
<td>IREN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>01/16/26</td>
<td>$10.00</td>
<td>$225.0K</td>
<td>21.5K</td>
<td>1.0K</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These bullet-by-bullet explanations have been constructed using the accompanying table. 
• Regarding NVDA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), we observe a call option sweep with bullish sentiment. It expires in 2 day(s) on October 25, 2024. Parties traded 200 contract(s) at a $140.00 strike. This particular call needed to be split into 16 different trades to become filled. The total cost received by the writing party (or parties) was $28.8K, with a price of $144.0 per contract. There were 55884 open contracts at this strike prior to today, and today 194391 contract(s) were bought and sold. 
• Regarding AAPL (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), we observe a call option sweep with bullish sentiment. It expires in 2 day(s) on October 25, 2024. Parties traded 510 contract(s) at a $232.50 strike. This particular call needed to be split into 12 different trades to become filled. The total cost received by the writing party (or parties) was $37.9K, with a price of $75.0 per contract. There were 11309 open contracts at this strike prior to today, and today 47850 contract(s) were bought and sold. 
• For MARA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>), we notice a call option sweep that happens to be bearish, expiring in 9 day(s) on November 1, 2024. This event was a transfer of 1635 contract(s) at a $19.00 strike. This particular call needed to be split into 49 different trades to become filled. The total cost received by the writing party (or parties) was $73.5K, with a price of $45.0 per contract. There were 10839 open contracts at this strike prior to today, and today 11869 contract(s) were bought and sold. 
• For PSTG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSTG#NYSE">PSTG</a>), we notice a call option sweep that happens to be bullish, expiring in 23 day(s) on November 15, 2024. This event was a transfer of 459 contract(s) at a $55.00 strike. This particular call needed to be split into 28 different trades to become filled. The total cost received by the writing party (or parties) was $57.3K, with a price of $125.0 per contract. There were 3311 open contracts at this strike prior to today, and today 1601 contract(s) were bought and sold. 
• Regarding CLSK (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLSK#NASDAQ">CLSK</a>), we observe a call option sweep with bearish sentiment. It expires in 9 day(s) on November 1, 2024. Parties traded 1000 contract(s) at a $11.50 strike. This particular call needed to be split into 43 different trades to become filled. The total cost received by the writing party (or parties) was $55.1K, with a price of $55.0 per contract. There were 649 open contracts at this strike prior to today, and today 1401 contract(s) were bought and sold. 
• Regarding TSM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>), we observe a call option trade with bearish sentiment. It expires in 86 day(s) on January 17, 2025. Parties traded 100 contract(s) at a $200.00 strike. The total cost received by the writing party (or parties) was $161.4K, with a price of $1615.0 per contract. There were 16030 open contracts at this strike prior to today, and today 1393 contract(s) were bought and sold. 
• Regarding MSFT (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), we observe a call option sweep with bullish sentiment. It expires in 58 day(s) on December 20, 2024. Parties traded 96 contract(s) at a $430.00 strike. This particular call needed to be split into 14 different trades to become filled. The total cost received by the writing party (or parties) was $159.9K, with a price of $1670.0 per contract. There were 4998 open contracts at this strike prior to today, and today 1327 contract(s) were bought and sold. 
• Regarding NET (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NET#NYSE">NET</a>), we observe a call option sweep with neutral sentiment. It expires in 23 day(s) on November 15, 2024. Parties traded 1214 contract(s) at a $115.00 strike. This particular call needed to be split into 25 different trades to become filled. The total cost received by the writing party (or parties) was $44.9K, with a price of $37.0 per contract. There were 1587 open contracts at this strike prior to today, and today 1215 contract(s) were bought and sold. 
• For QCOM (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>), we notice a put option sweep that happens to be bearish, expiring in 9 day(s) on November 1, 2024. This event was a transfer of 595 contract(s) at a $170.00 strike. This particular put needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $368.9K, with a price of $620.0 per contract. There were 1763 open contracts at this strike prior to today, and today 1207 contract(s) were bought and sold. 
• For IREN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IREN#NASDAQ">IREN</a>), we notice a put option sweep that happens to be neutral, expiring in 450 day(s) on January 16, 2026. This event was a transfer of 500 contract(s) at a $10.00 strike. This particular put needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $225.0K, with a price of $450.0 per contract. There were 21519 open contracts at this strike prior to today, and today 1003 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more news on unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Options

CLSK

IREN

MARA

PSTG

10 Information Technology Stocks Whale Activity In Today's Session

Arm Holdings Plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>) shares are trading lower Wednesday following reports the company has threatened Qualcomm Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) with the cancellation of its <a href="https://www.benzinga.com/markets/equities/24/10/41481425/softbank-backed-arm-threatens-to-cancel-qualcomms-chip-design-license-ahead-of-trial-in-december">chip design license</a>.
What To Know: According to <a href="https://www.bloomberg.com/news/articles/2024-10-23/arm-to-cancel-qualcomm-chip-design-license-in-escalation-of-feud?embedded-checkout=true">Bloomberg</a>, Arm has already given Qualcomm a 60-day notice of cancellation regarding the companies&#8217; architectural license agreement. The chip design license allows Qualcomm to make chips based on Arm&#8217;s guidelines.
Without the license, Qualcomm may be forced to stop manufacturing those chips, forfeiting billions of dollars in sales. The company&#8217;s chips serve as the backbone for most Android smartphones and tablets.
The news comes amid an ongoing legal dispute between the technology giants. Arm sued Qualcomm in 2022 for breach of contract and trademark infringement, centered around the company&#8217;s acquisition of chip-design startup Nuvia. 
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41466659/tesla-q3-earnings-preview-musk-has-questions-to-answer-traders-need-to-buckle-up-fo">Tesla Q3 Earnings Preview: Musk Has Questions To Answer, Traders &#8216;Need To Buckle Up&#8217; For Volatile Stock Moves</a>
Earlier this week, Qualcomm announced plans to use a Nuvia chip design in its Snapdragon chips for smartphones. Arm claims that Qualcomm&#8217;s current license does not cover Nuvia&#8217;s designs, while Qualcomm asserts that Nuvia is protected under its existing agreement.
Arm is reportedly demanding that Qualcomm destroy all Nuvia designs that were put in place before Qualcomm acquired the chip designer. 
Qualcomm reportedly told Bloomberg that Arm is attempting to &#8220;strong-arm a long time partner&#8221; and expressed confidence that its rights under its agreement with Arm &#8220;will be affirmed.&#8221;
ARM Price Action: At the time of publication, Arm shares were down 5.8% at $143.69, according to data from <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>.
Image: Image via Unsplash

What's Going On With Arm Holdings Shares Wednesday?

A risk-off mood persists on Wall Street as the index futures point to a marginally lower start on Wednesday after the tech-led rebound witnessed in the previous session. Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) fell in premarket, followed by Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>).
Chipmakers and chip designers will also be in focus today. While Taiwan Semiconductor Manufacturing Co. Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) <a href="https://www.benzinga.com/markets/equities/24/10/41482288/tsmc-alerts-us-after-its-chip-is-found-in-huaweis-ai-product-potentially-violating-export-rules">alerted the U.S.</a> about a potential violation of expert rules, Qualcomm Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) faces the threat of its chip designing <a href="https://www.benzinga.com/markets/equities/24/10/41481425/softbank-backed-arm-threatens-to-cancel-qualcomms-chip-design-license-ahead-of-trial-in-december">license being canceled</a> by Arm Holdings Plc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>).
On Wednesday, investors will have Tesla, Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>), AT&amp;T Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>), Starbucks Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>), Spirit Airlines Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAVE#NYSE">SAVE</a>), and McDonald's Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>) on their radar.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-0.30%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.18%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>-0.40%</td>
</tr>
<tr>
<td>R2K</td>
<td>-0.30%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Monday, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) fell 0.21% to $582.10 and the Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) declined 0.22% to $494.34, according to<a href="https://benzinga.grsm.io/lxquj26b2sag"> Benzinga Pro data</a>.
Cues From Last Session:
Investors remained cautious, with most sectors on the S&amp;P 500 index closing the day in the red. However, consumer staples and communication services stocks beat the overall trend to rise.
Tech stocks helped the Nasdaq Composite index close the day in the green, bucking a wider decline in the markets.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>0.18%</td>
<td>18,573.13</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.05%</td>
<td>5,851.20</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>-0.02%</td>
<td>42,924.89</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-0.37%</td>
<td>2,231.53</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
Following six consecutive weeks of gains, the markets have remained gloomy this week, with tech stocks offering some respite amid sideways movements in most other sectors.
One of the factors playing on investors' minds is the rise in benchmark US 10-year treasury yields, which rose to their highest mark since July.
On the economic data front, the composite manufacturing index in the US Fifth District came in at -14 for October compared to a reading of -21 in the prior month.
"We now recommend moving to the sidelines. We think investors are likely to as well; the risk rally should stall for the next few weeks," said analysts at Barclays in a note according <a href="https://www.cnbc.com/2024/10/23/cnbc-daily-open-the-sp-could-continue-its-ascent-despite-pausing.html">to</a> CNBC, commenting on the gloomy performance in equity markets this week.
The International Monetary Fund, though, <a href="https://www.imf.org/en/Publications/WEO/Issues/2024/10/22/world-economic-outlook-october-2024">expects</a> U.S. growth to remain strong. According to its latest World Economic Outlook report, the IMF revised its projected U.S. GDP growth rate to 2.8%, up from its previous projection of 2.6%.
For 2025, IMF revised U.S. GDP growth projections upwards from 1.9% to 2.2%.
Charlie Bilello, Chief Market Strategist at Creative Planning, highlighted a continued surge in gold prices, which rose to a new all-time high of $2,772.55 an ounce.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Gold hit an all-time high today for the 4th day in a row. Now on pace for its best year since 1979 with a gain of 33% YTD.<a href="https://t.co/l5IYmkeySJ">https://t.co/l5IYmkeySJ</a> <a href="https://t.co/VypINZLJjo">pic.twitter.com/VypINZLJjo</a>
&mdash; Charlie Bilello (@charliebilello) <a href="https://twitter.com/charliebilello/status/1848938655802347577?ref_src=twsrc%5Etfw">October 23, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/money/best-futures-trading-software">Best Futures Trading Software</a>
Upcoming Economic Data:
<ul>
<li>Fed Governor Michelle Bowman is scheduled to deliver a speech at 9 a.m. ET.</li>
<li>Existing home sales data is scheduled to be released at 10 a.m. ET.</li>
<li>Federal Reserve Bank of Richmond President Thomas Barkin will speak at noon ET.</li>
<li>The Federal Reserve will also publish its latest ‘Beige Book' at 2 p.m. ET.</li>
</ul>
Stocks In Focus:
<ul>
<li>Tesla will release its third-quarter earnings after market hours. Analysts <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41451228/tesla-q3-earnings-troy-teslike-gary-black-expects-eps-to-fall-below-estimates-but-d">expect EPS to fall below estimates</a>.</li>
<li>McDonald's hamburgers have been linked to an E-coli outbreak.</li>
<li>Frontier Airlines (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ULCC#NASDAQ">ULCC</a>) is reportedly considering renewing its bid for Spirit Airlines.</li>
<li>Starbucks <a href="https://www.benzinga.com/news/earnings/24/10/41468529/starbucks-stock-stumbles-after-company-reports-weak-preliminary-results-suspends-guidance">reported weak preliminary results</a> and suspended guidance for the full fiscal year 2025.</li>
<li>Telecom major AT&amp;T is scheduled to report its earnings before markets open.</li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil futures fell in the early New York session, falling nearly 1.8% as data showed a rise in U.S. inventory, exceeding expectations.
The 10-year Treasury note yield rose marginally to 4.222%.
Asian markets were mixed on Wednesday, with Chinese markets edging up while Japan's Nikkei 225 declined.
European stocks continued to remain tentative and were mostly lower in early trading.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41478253/bitcoin-ethereum-dogecoin-flat-as-stocks-show-weakness-for-second-straight-day-analyst-ant">Bitcoin, Ethereum, Dogecoin Flat As Stocks Show Weakness For Second Straight Day</a></li>
</ul>
Photo courtesy: Shutterstock

SAVE

TSLA

ULCC

US Stocks Expected To Open In Red As Investors Eye Tesla Earnings: Gold Surges, Crude Slips As Analysts Predict A Stall In Risk Rally

Top 50 High-Quality Dividend Growth Stocks - October 2024 Results

Semiconductor company Qualcomm ($QCOM) is scheduled to announce its results for the fourth quarter of Fiscal 2024 after the market closes on Novemb...

Qualcomm (QCOM) Q4 Earnings: Here's What to Expect

JPMorgan lowered the firm's price target on Qualcomm (QCOM) to $195 from $210 and keeps an Overweight rating on the shares as part of a Q3 earnings...

Qualcomm price target lowered to $195 from $210 at JPMorgan

There's a lot to be optimistic about in the Technology sector as 3 analysts just weighed in on Microsoft (MSFT – Research Report), Qualcomm (QCOM –...

Analysts Are Bullish on These Technology Stocks: Microsoft (MSFT), Qualcomm (QCOM)

Qualcomm in focus as JP Morgan cuts price target ahead of Q4 results

Roth MKM keeps a Buy rating and $7.50 price target on Sequans (SQNS) after the company reported a "huge beat" with its Q3 results. Sequans' product...

Sequans to trade higher after 'huge beat', says Roth MKM

Chip roundup: GlobalFoundries, Astera Lab rise on earnings; Cirrus Logic, Navitas fall

Intel: Don't Bet On The Wrong Horse In The AI Race

Qualcomm Q4 Earnings Preview: Analysts expect 27% increase in EPS

JP Morgan cuts QCOM target to $195 amid smartphone concerns.

Is Qualcomm Facing Tough Q4 Earnings Outlook? Here's What You Need To Know

ALAB

ALLE

CRUS

CTAS

FAST

GRMN

JKHY

LECO

MKTX

MSCI

NTES

NVTS

ODFL

PAYX

POOL

RACE

ROST

SCHD

SLAB

SOXX

SQNS

TSCO

TSMWF

Press Releases

Harnessing AR in Logistics: Vuzix's (NASDAQ: VUZI) Smart Glasses Revolutionize Warehouse Operations

Qualcomm Earnings Release Available on Company's Investor Relations Website

Qualcomm Announces Quarterly Cash Dividend

Qualcomm Schedules Third Quarter Fiscal 2024 Earnings Release and Conference Call

Qventus Names Industry Leader Jamie Eisinger Burgess as Senior Vice President of Marketing

Qualcomm and Sequans Reach Agreement on Sale of 4G IoT Technology

Drones Driven by A.I. Are Taking Over Major Industries Including Agriculture, Construction, Military & More

Qualcomm Schedules Fourth Quarter and Fiscal 2024 Earnings Release and Conference Call

ADBE

ADSK

DPRO

ENVX

FLEX

IMMR

MVIS

PLTR

RBLX

UAVS

VUZI

ZENA

Analog Devices

Astera Labs

Advanced Micro Devices, Inc. - Common Stock

Advanced Micro Devices

Arm Holdings plc - American Depositary Shares

ARM Holdings

ASE Technology Holding Co., Ltd. American Depositary Shares (each representing Two Common Shares)

Comments

Qualcomm

Qualcomm (QCOM) 옵션

Qualcomm (NASDAQ:QCOM) 주식, 옵션 체인

뉴스

파트너 / 기고자

벤징가 글로벌