This Nvidia peer is benefiting from the growing adoption of AI-enabled smartphones.Nvidia (NVDA -0.16%) stock has been on a tear on the stock market over the past year and a half, which is not surprising -- the company has been delivering phenomenal earnings and revenue growth thanks to the booming demand for its artificial intelligence (AI) chips.Nvidia commands a dominant position in the AI chip market with a market share of more than 90%. It is leagues ahead of rivals such as Intel and AMD, which are sti ...

BEIJING, CHINA - SEPTEMBER 02: People visit the Qualcomm booth during the 2023 China International ... [+] Fair for Trade Services (CIFTIS) at Shougang Park on September 2, 2023 in Beijing, China. (Photo by VCG/VCG via Getty Images)VCG via Getty ImagesOur Theme of Apple Component Supplier Stocks, which includes a diverse set of companies that supply components for Apple’s Apple devices, has remained roughly flat year to date in 2024, underperforming the S&P 500 which remains up by 9% and compared to Apple s ...

[ 2T 0a 2b 4l 年e_S 0t 5o 月ckI 0n 5f 日o] 买入 （维持） 证券研究报告•2024财年二季度财报点评 当前价： 179.64美元 高通（QCOM.O） 半导体 目标价： ——美元 业绩持续回升，积极推动混合 AI 战略 投资要点 西南证券研究发展中心 [T ab事le件_S：u公mm司aFryY]2 024Q2（即自然年2024Q1）实现营收93.9亿美元，同比增长 [分Ta析bl师e_：Au王th湘or杰] 1.2%；毛利率56.3%，同比提升1.1pp；GAAP净利润23.3亿美元，同比增长 执业证号：S1250521120002 36.5%；Non-GAAP净利润 27.6亿美元，同比增长14%。公司连续两个季度实 电话：0755-26671517 现业绩正向增长。 邮箱：wxj@swsc.com.cn  中国品牌客户推动手机业务回升，汽车业务增长加速。公司FY24Q1 QCT（半 分析师：杨镇宇 导体）分部收入80.3亿美元，同比增长1.1%；EBT为22.9亿美元，税前利润 执业证号：S1250517090003 率 28.5%，同比提升2pp。其中：1）手机 ...

Qualcomm (QCOM) stock is up more than 10% in Thursday's session after the technology giant beat top- and bottom-line expectations for its fiscal second quarter and announced a dividend increase.In the three months ended March 31, Qualcomm's revenue increased 1.3% from the year-ago period to $9.4 billion. Its earnings per share (EPS) were up 13.5% to $2.44."We are pleased to report strong quarterly results, with EPS exceeding the high end of our guidance," Qualcomm CEO Cristiano Amon said in a statement. "We ...

Qualcomm Incorporated (QCOM) reported relatively healthy second-quarter fiscal 2024 results, with the bottom and top lines beating the respective Zacks Consensus Estimate, driven by healthy demand trends in Android handsets and automotive businesses. Both metrics improved year over year, led by the strength of the business model, revenue diversification and the ability to respond proactively to the evolving market scenario.Management expects a steady improvement in the demand trajectory in the remainder of ...

Key TakeawaysQualcomm shares jumped more than 4% in extended trading on Wednesday after the mobile phone chipmaker issued a better-than-expected current-quarter outlook amid growing demand for AI-equipped premium smartphones.The company reported a 40% jump in quarterly revenue from Chinese phone manufacturers.Monitor how the Qualcomm share price responds to two twin peaks that formed in March and April around $176. Qualcomm (QCOM) shares jumped more than 4% in extended Wednesday after the mobile phone chip ...

Qualcomm (QCOM) reported $9.39 billion in revenue for the quarter ended March 2024, representing a year-over-year increase of 1.2%. EPS of $2.44 for the same period compares to $2.15 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $9.32 billion, representing a surprise of +0.74%. The company delivered an EPS surprise of +6.09%, with the consensus EPS estimate being $2.30.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street e ...

Financial Data and Key Metrics Changes - In Fiscal Q2, Qualcomm reported non-GAAP revenues of $9.4 billion and non-GAAP earnings per share of $2.44, exceeding the high end of guidance [7][14] - The chipset business generated revenues of $8 billion, driven by strong demand for Android smartphones and automotive [7][14] - Licensing business revenues were $1.3 billion, with an EBT margin of 71% [14] Business Line Data and Key Metrics Changes - QCT (Qualcomm CDMA Technologies) revenues were $8 billion, with an EBT margin of 29%, reflecting strength in handset and automotive sectors [14] - QCT handset revenues reached $6.2 billion, benefiting from flagship Android smartphone launches [14] - QCT IoT revenues increased by 9% sequentially to $1.2 billion, slightly better than expectations [14] - Automotive revenues grew by 35% year-over-year, indicating a record quarter for QCT automotive [14] Market Data and Key Metrics Changes - Qualcomm's design win pipeline in automotive has increased to approximately $45 billion, up from $30 billion in September 2022 [9][18] - The company noted a greater than 40% year-over-year increase in revenues from Chinese OEMs in the first half of fiscal 2024 [18] Company Strategy and Development Direction - Qualcomm is focusing on intelligent computing across various sectors, including smartphones, PCs, XR devices, and automotive [8][13] - The launch of the Qualcomm AI Hub aims to support the commercialization of on-device AI applications [8] - The company is optimistic about growth opportunities in automotive, IoT, and AI-driven devices [13][18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the recovery of the premium smartphone market in China, driven by an increase in high-tier device sales [24][25] - The company anticipates a seasonal decline in QCT handset revenues in the upcoming quarter, but expects growth in automotive revenues [16][27] - Management highlighted the importance of AI in driving demand for new devices and enhancing user experience [45][56] Other Important Information - Qualcomm announced an increase in quarterly dividends from $0.80 to $0.85 per share [15] - The company completed the divestiture of its restrained control system business related to the acquisition of Veoneer [15] Q&A Session Summary Question: Inquiry about the impact of AI on handset modem and RF architecture - Management noted that the modem's importance is increasing with AI applications, emphasizing their competitive RF front end portfolio [20][22] Question: Details on the performance in the China market - Management indicated that the premium and high-tier mix is improving in China, with strong demand for devices powered by Snapdragon [24][25] Question: Sustainability of automotive revenue growth - Management confirmed that the design win pipeline is translating into revenue, with a target of over $4 billion in automotive revenue by fiscal 2026 [27] Question: Outlook for the PC segment - Management stated that significant PC volume is not expected in the June quarter, with material growth anticipated in fiscal 2025 [35][36] Question: Revenue expectations from Huawei - Management clarified that no further product revenue from Huawei is expected beyond the end of the calendar year, as they transition to 5G [39] Question: QTL business recovery - Management explained that the QTL business is driven by market size and ASPs, with a disconnect between QCT and QTL performance [42] Question: AI's impact on semiconductor pricing - Management highlighted that AI is driving increased content in devices, leading to a richer mix and potential for higher ASPs [54][56] Question: QCT gross margins outlook - Management indicated that QCT gross margins have held flat, with no fundamental changes expected in the margin framework going forward [58] Question: Growth expectations for automotive revenue - Management suggested a reasonable growth slope towards the $4 billion target, without providing specific quarter guidance [60]

Qualcomm (QCOM) came out with quarterly earnings of $2.44 per share, beating the Zacks Consensus Estimate of $2.30 per share. This compares to earnings of $2.15 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 6.09%. A quarter ago, it was expected that this chipmaker would post earnings of $2.38 per share when it actually produced earnings of $2.75, delivering a surprise of 15.55%.Over the last four quarters, the company has su ...

Key TakeawaysQualcomm shares rose in extended trading Wednesday after the chipmaker reported fiscal second-quarter earnings that beat analysts' estimates.The company's revenue rose 1% from a year ago to $9.39 billion, while net income grew 14% to $2.33 billion.The chipmaker cited strong demand from Chinese phonemakers and record Qualcomm CDMA Technologies (QCT) automotive sales as having contributed to its results. Qualcomm also highlighted its expanding offerings with artificial intelligence capabilities a ...