Qualcomm Incorporated capped a busy week with the launch of new AI-focused Snapdragon chips, a renewed patent license with Apple Inc. effective April 1, 2027, and shares rising 5.69% to $205.32 on Friday.

The announcements were made at Qualcomm's Snapdragon Summit in Hawaii, where CEO Cristiano Amon outlined how autonomous agents could reshape smartphones. Amon told CNBC that the industry now has greater clarity on what an AI smartphone should become, expecting agents to operate apps, connect with cloud services, and complete tasks without requiring constant manual interaction. He identified trust and low friction as essential for adoption, and noted that some companies already want models with 100 billion parameters running directly on devices.

New Snapdragon chips deepen AI push

Qualcomm introduced two new processors for premium Android smartphones at the Summit:

Qualcomm also introduced an AI coprocessor that applies technology from its emerging data-center business to smartphones. The chips are positioned against Apple's A20 Pro and manufactured using Taiwan Semiconductor Manufacturing Co. Ltd.'s advanced manufacturing technology. Amon noted that premium smartphones have remained more resilient despite higher memory prices, and that AI capabilities and growing interest in foldables are expected to support the next phase of flagship smartphone development.

Apple patent license renewed

Qualcomm renewed its global patent license agreement with Apple, with updated terms taking effect on April 1, 2027. John Han, Qualcomm Technology Licensing Executive Vice President and General Manager, stated, "We are pleased to extend the Apple license agreement." No financial details regarding the value of the deal were disclosed. The renewal comes as Qualcomm works to diversify beyond smartphones while maintaining its relationship with one of the industry's largest device makers.

Partner ecosystem expansion

Qualcomm showcased growing adoption of its processors among major partners at the Summit:

Amon addressed the rising energy demands of smartphones as they perform complex tasks, drawing a parallel to early data center challenges, and stated that technology designed for data centers is now scaled into smartphones. He also introduced Ziad Asghar, Senior Vice President and General Manager XR, Wearables and Personal AI, who presented the new Snapdragon Sound Elite Gen 2, a premium audio platform built for personal AI.

ETF exposure and stock movement

Qualcomm carries significant weight in several major ETFs, meaning large inflows or outflows in these funds can drive automatic buying or selling of the stock:

Qualcomm shares were up 5.69% at $205.32 at the time of publication on Friday, according to Benzinga Pro data.

Qualcomm Inc. (NASDAQ: QCOM) launched two new high-end AI-first processors, the Snapdragon 8 Elite Gen 6 and the Snapdragon 8 Elite Extreme Gen 6, to challenge Apple Inc.'s (NASDAQ: AAPL) A20 Pro chip in premium smartphones.

The announcement, made Tuesday at the annual Snapdragon Summit, emphasizes on-device artificial intelligence. The new sensing hubs can run models with up to 200 million parameters locally. This capability allows phones to execute tasks such as distinguishing between speakers and building user activity memory for better task suggestions.

On-device AI capabilities

The Snapdragon 8 Elite Extreme Gen 6 supports a complete voice-in, voice-out AI agent directly on the device. It can locally run a 30-billion-parameter mixture-of-experts model. The standard Gen 6 includes a new accelerator designed for efficient AI model execution.

Both chips feature enhanced camera capabilities via AI. The Extreme version supports 8K video at 60 frames per second and 4K video at 240 frames per second. Additionally, both models use AI to boost vocals and reduce background noise during calls.

Motorola announced that its Signature 27 smartphone will utilize the Snapdragon 8 Elite Extreme Gen 6, with availability expected this year.

Manufacturing and market context

Qualcomm is using Taiwan Semiconductor Manufacturing Co. Ltd.'s (NYSE: TSM) most advanced manufacturing technology. This places Qualcomm and Apple on increasingly similar footing regarding underlying chip production processes.

The launch occurs as higher memory prices raise smartphone costs and pressure demand. Counterpoint expects global smartphone shipments to decline 14% this year. This backdrop is pushing manufacturers toward higher-priced devices, making premium segments critical for growth.

Stock performance and technicals

Qualcomm shares traded slightly lower Wednesday in premarket trading, down 0.39% at $197.49. The stock remains in a strong technical position despite short-term weakness attributed to profit-taking after a multi-month rally.

The moving averages remain favorably aligned, with the 20-day average above the 50-day, and the 50-day above the 200-day. Momentum indicators show the MACD above its signal line with a positive histogram.

Analyst consensus and valuation

Qualcomm carries a Hold consensus rating with an average price forecast of $196.95. Recent analyst actions include:

• Piper Sandler initiated coverage with a Neutral rating and $190 price forecast on September 10.
• RBC Capital maintained a Sector Perform rating and raised its price forecast to $180 on September 9.
• Rosenblatt maintained a Buy rating and $235 price forecast on September 9.

The stock trades at a price-to-earnings ratio of approximately 22.7. Benzinga Edge rankings show a momentum score of 83.81 and a quality score of 92.32, while value and growth scores stand lower at 27.04 and 32.57, respectively.