Chip giant Qualcomm (NASDAQ: QCOM) went up in pre-market trading on Monday after the company stated that it would supply tech giant Apple (AAPL) with Snapdragon 5G chips for smartphone launches in 2024, 2025, and 2026.
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It has also been rumored, ahead of the Apple product launch tomorrow, that Qualcomm chips are likely to feature in the iPhone 15.
Analysts are bullish about QCOM stock with a Strong Buy consensus rating based on 14 Buys and four Holds.