Core Viewpoint - Qualcomm Inc is positioned for near-term growth due to strong smartphone demand, increased chip share in Apple's iPhone 17, and expanding opportunities in AI [1][2][3] Group 1: Financial Projections - Analyst Samik Chatterjee maintains an Overweight rating on Qualcomm, raising the price forecast from $200 to $210 [2] - For fiscal Q4 2025, projected revenue is $10.9 billion, exceeding consensus of $10.7 billion, with adjusted EPS of $2.90 compared to $2.85 consensus [6] - For fiscal Q1 2026, anticipated revenue is $11.9 billion, above the Street's $11.6 billion view, with EPS of $3.34 versus expectations of $3.25 [7] Group 2: Market Position and Trends - Qualcomm's modem share in new iPhones is expected to reach about 90%, up from a previous estimate of 70%, due to limited impact from Apple's in-house modem [5] - Handset revenue is projected to increase by 7% quarter-over-quarter, driven by robust smartphone demand and higher market share with Apple [6] Group 3: Segment Performance - The automotive and IoT segments are expected to grow more than 20% in fiscal 2026, contributing to revenue diversification [9] - Qualcomm's AI datacenter products (AI200 and AI250) are highlighted as key growth catalysts, with data center revenue projected to reach $1.4 billion by fiscal 2027 [9] Group 4: Competitive Landscape - Qualcomm's share of Samsung's flagship devices is expected to return to approximately 70%, which may lead to a revenue decline to $10.6 billion in a future quarter [8] - The company faces potential headwinds of $800 million in fiscal Q2 2026 due to Samsung reintroducing its in-house Exynos chipsets [7]

Core Insights - Arm Holdings (ARM) is transitioning from a mobile chip design leader to a foundational player in artificial intelligence (AI) and the Internet of Things (IoT) [1][5] Group 1: Company Overview - Arm Holdings is recognized for its power-efficient chip architecture, which has been crucial for its dominance in mobile computing and is now expanding into AI and IoT [1][2] - The company’s architecture is being adopted across various device categories, including wearables and cloud data centers, to meet the growing demands of AI workloads [2] Group 2: Client Relationships - Major tech companies like Apple, Qualcomm, and Samsung heavily rely on Arm Holdings' architecture for their products, integrating it into their M-series chips, Snapdragon processors, and Exynos chipsets respectively [3][4] - The reliance on Arm is deepening as these companies scale their AI ambitions and IoT strategies, with Arm's scalable power efficiency being central to this transformation [4][5] Group 3: Market Performance - Arm Holdings' stock has increased by 41% over the past three months, although this growth lags behind the industry average of 45% [6][7] - The company trades at a forward price-to-sales ratio of 30.92, significantly higher than the industry average of 8.64, indicating a steep valuation [7][11] Group 4: Earnings Estimates - The Zacks Consensus Estimate for Arm's earnings has remained unchanged over the past 30 days, with current estimates for the upcoming quarters and years being stable [9][10]