Core Insights - Qualcomm reported a Q4 fiscal revenue of $11.27 billion, a 10% increase year-over-year, with adjusted earnings per share of $3.00, up from $2.69 in the previous year [1][2] - The company recorded a GAAP net loss of $3.12 billion, compared to a net income of $2.92 billion in the same quarter last year, reflecting a significant decline [2][3] - For the full fiscal year, Qualcomm's GAAP revenue reached $44.28 billion, a 14% increase, but net income fell by 45% to $5.54 billion [3] Revenue Breakdown - Mobile business revenue grew by 14% to $6.96 billion [5] - Automotive business revenue increased by 17% to $1.05 billion [5] - Internet of Things (IoT) business revenue rose by 7% to $1.81 billion [5] Future Guidance - Qualcomm expects Q1 fiscal revenue to be between $11.8 billion and $12.6 billion, with adjusted earnings per share projected between $3.30 and $3.50 [4]

Core Viewpoint - DBS analysts believe that Xiaomi Group-W (1810.HK) is likely to see an increase in valuation due to its continuous market share growth across various business segments [1] Group 1: Business Performance - The company's profit margin expansion driven by the Internet of Things (IoT) business and steady growth in the electric vehicle (EV) sector is expected to offset the drag from the sluggish global smartphone growth in the long term [1] - IoT has become a structural profit driver for the company, showing widespread growth [1] - Xiaomi's market share in smart home appliances (air conditioners, refrigerators, washing machines, etc.) continues to increase [1] Group 2: Cost Management - The company is achieving cost savings through its own manufacturing and automation capabilities, which, combined with economies of scale, will continue to support structural improvements in its gross margin [1] Group 3: Analyst Rating - DBS maintains a "Buy" rating on Xiaomi [1]