Qualcomm CEO On Growth Opportunities Beyond Apple

Diversification Strategy - Qualcomm aims for 50% non-handset revenue by fiscal year 2029, projecting $22 billion net revenue from the handset business by then [3] - The company is diversifying into areas like data centers and robotics, which are expected to provide upside to the existing plan [4] - Qualcomm is experiencing double-digit growth in non-Apple QCT (chip business) revenues for the second consecutive year, with a 15% growth rate [3] Market Dynamics & Growth - The handset market is not growing, prompting Qualcomm to focus on diversification and growth in other sectors [6] - Qualcomm's Android business is growing at approximately 10% annually, exceeding the initially projected 5% growth rate [8] - The company is seeing increased AI usage in devices, exemplified by the Samsung Galaxy S25's use of Google Gemini ES3 X triple [12] Automotive Business - Qualcomm's automotive business growth is driven by converting design wins into revenue as cars featuring their technology launch [16] - Content per vehicle is increasing due to more computing power being integrated into digital cockpits, ADAS (Advanced Driver-Assistance Systems), and autonomy features [17][18] Technology & Innovation - Qualcomm possesses unique and competitive IP across various areas, including computing IP on CPU and AI accelerators [6][7] - The company is expanding into the AI at the Edge with industrial applications, with IoT exceeding expectations due to new personal AI devices like Meta glasses [7] - Qualcomm demonstrated a 1 billion parameter model running on smart glasses, enabling immediate responses [13] Legal & Partnerships - Qualcomm is fully licensed for Orion CPUs and can continue building ARM-compatible CPUs following a trial [20]