Core Viewpoint - Qualcomm reported its Q3 earnings for the period ending June 29, 2023, showing a revenue of $10.365 billion, a 10% year-over-year increase, but below analyst expectations of $10.62 billion. Adjusted net profit was $2.67 billion, up 25% year-over-year. Despite solid growth, Qualcomm's stock fell 4.7% post-earnings due to concerns over its smartphone chip business and potential revenue impacts from Apple's shift to in-house modem chips [2][5]. Group 1: Financial Performance - Qualcomm's QCT (Qualcomm CDMA Technologies) segment generated $8.993 billion in revenue, a year-over-year increase of 11%. Revenue from smartphone chips was $6.328 billion, up 7%, slightly below analyst expectations of $6.48 billion. Automotive chip revenue was $984 million, up 21%, while IoT revenue grew 24% to $1.681 billion [3][4]. - The QTL (Qualcomm Technology Licensing) segment reported revenue of $1.318 billion, a 4% year-over-year increase [4]. Group 2: Business Diversification - Qualcomm's diversification strategy is showing results, with automotive and IoT revenues reaching $2.665 billion, accounting for approximately 30% of QCT revenue. This growth in niche markets helps reduce Qualcomm's reliance on smartphone business [4]. - CEO Cristiano Amon expressed confidence in the company's diversification strategy and long-term revenue goals [4]. Group 3: Competitive Landscape - Apple is accelerating its move away from Qualcomm, having introduced its first in-house modem chip, C1, in the iPhone 16e. This shift raises concerns about future revenue impacts for Qualcomm [5][8]. - Qualcomm is preparing for a potential complete transition of Apple to in-house modem chips, focusing on growth from Android and other emerging markets [8].

Group 1 - Apple plans to launch a dedicated gaming app on its devices, which will serve as a game launcher and enhance user experience by showcasing achievements, leaderboards, and promoting its Arcade subscription service [2] - This initiative aims to strengthen Apple's position in the gaming market and could positively impact its revenue, as games and in-app purchases contribute approximately two-thirds of App Store income [2] Group 2 - Nvidia's suppliers are accelerating the production of AI data center racks after resolving technical issues that caused shipment delays, with partners like Foxconn and Dell making significant progress [3] - This improvement in supply chain efficiency is expected to alleviate pressure on Nvidia and enhance its competitiveness in the AI data center market [3] Group 3 - TSMC is still evaluating the timing for adopting ASML's advanced High-NA EUV lithography machines, indicating a search for balance between technological upgrades and cost control [4] - The company is currently focused on extending the lifespan of existing Low-NA EUV lithography machines [4] Group 4 - A study commissioned by Qualcomm reveals that Apple's first self-developed baseband chip, C1, underperforms compared to Qualcomm-equipped Android devices, with the iPhone 16e lagging significantly in both download and upload speeds [5] - The performance gap may prompt Apple to increase R&D investments to enhance future product competitiveness [5] Group 5 - Anthropic has begun testing a voice mode for its chatbot application Claude, which will allow users to discuss documents and images with various voice options [6] - This feature is expected to improve user experience and engagement, potentially leading to an increase in paid subscription users [7]