Core Viewpoint - UBS report indicates that Qualcomm's Q4 revenue and earnings per share exceeded expectations, primarily driven by the QCT business [1] Group 1: Business Performance - Qualcomm's data center business is emerging as a new focus, with a more detailed product roadmap expected to be released in 2026 [1] - The company is believed to have competitive strength, but there is little evidence of related products in the supply chain, suggesting that the roadmap may take several years to have a substantial impact [1] Group 2: Core Issues - Ongoing core issues for Qualcomm include the potential cessation of patent fee payments from Apple, or at least a significant push to reduce related costs [1] Group 3: Valuation and Rating - UBS has made limited adjustments to Qualcomm's valuation, raising the target price from $175 to $185 while maintaining a "Neutral" rating, as the company still struggles to exceed market expectations [1]

Core Viewpoint - Bank of America Securities reports that Qualcomm's Q3 revenue grew by 10%, surpassing market expectations of 5.1% due to a 13.2% increase in QCT business revenue, which was above the anticipated 7.7% [1] Revenue Performance - QCT business showed strong performance with revenue growth in mobile, automotive, and IoT segments at 14.2%, 17.1%, and 7.4% respectively, all exceeding market expectations [1] Earnings Forecast and Target Price - The firm raised its earnings forecast to align with the company's guidance and increased the target price from $200 to $215, maintaining a "Buy" rating [1]