Former Chairman of the council of economic advisors Kevin Hassett discusses the tech-led selloff, the chances of a recession and the Fed’s delayed response to inflation.
Qualcomm CEO Cristiano Amon told Fox Business there are several products changing the tech landscape with potential for growth in the coming years, giving his company a unique opportunity for growth.
Amon said Qualcomm is fortunate that the company is growing, and has not slowed or paused hiring, like many other tech companies.
“We’re finding new end markets for technology, and I think that’s driving the growth,” Amon told Fox Business.
“We look at the environment right now, it’s probably a good environment to invest,” he said, adding that the company is actively looking at new mergers and acquisitions.
BIDEN TOUTS MAY JOBS REPORT, SAYS US CAN ATTACK INFLATION FROM ‘POSITION OF STRENGTH’
“We are very fortunate as a company, because we have a number of technology trends that are actually creating demand for our technology. It’s more than one. And I think they’re all exciting.”
Amon told the Financial Times earlier this week that the company is interested in purchasing shares of Arm Ltd., a British semiconductor design and manufacturing company.
Amon told Fox Business there are several technology areas that he sees exciting growth in the future.
DESPITE INFLATION, LOCKDOWNS IN CHINA AND ‘FLAT’ PHONE MARKET, QUALCOMM CONTINUES TO GROW: CEO
“One is the connection of physical and digital spaces,” highlighting the metaverse and digital reality. These technologies are just at the beginning of the growth curve, Amon said, and he predicted “incredible new devices” coming.
Visitors look at a self-driving car by Google displayed at the Viva Technology event in Paris, France, July 1, 2016. REUTERS/Benoit Tessier
“The other important technology trend that we’re very excited about is how 5G is going to redefine devices,” Amon added. “We see incredible opportunity of transformation for cars. Cars are becoming connected computers on wheels.”
VERIZON, AUDI TEAM UP TO BRING 5G TO CAR LINEUP
Amon noted that the number of semiconductors used in cars is growing exponentially, and Qualcomm has been expanding its footprint in the automotive industry.
“And I think the last one is for the first time, we have a technology in 5G that we can close the broadband gap and bring broadband to everyone,” Amon said, highlighting the potential to ensure even rural areas have high-speed broadband.
CLICK HERE TO READ MORE ON FOX BUSINESS
Amon spoke to Fox Business at the “Montana on the Rise” economic summit hosted by Sen. Steve Daines, R-Mont., and the Montana Chamber of Commerce.
https://www.foxbusiness.com/economy/qualcomm-ceo-highlights-technology-trends-excited
More Stories
What is Order Fulfillment? Can NetSuite Help in Managing Bulk Orders?
How Long You Should Employ Wavemaker Rapid Application Development RAD Model
Ukrainians are the use of 3-D know-how to keep masses of cultural artifacts in a virtual archive, a long way clear of Russia’s assaults