Core Viewpoint - Qualcomm is expanding into AI data centers and robotics, which may enhance its stock performance despite its shares only increasing by 15% over the past five years [1] Business Performance - Qualcomm reported a 10% year-over-year revenue growth in Q4 FY25 and a 14% increase in earnings before taxes, indicating positive momentum for the company [3] - The company's Q1 FY26 guidance suggests a revenue midpoint of $12.2 billion, reflecting a 5% year-over-year increase, indicating potential for continued growth [4] AI Investments and Market Potential - Qualcomm's success in AI will depend on the performance of its AI chips against competitors, with the potential for businesses to invest in Qualcomm's products to reduce costs [6] - HUMAIN has become the first customer for Qualcomm's AI inference-optimized chips, and Qualcomm anticipates its IoT segment will grow from $6.6 billion to $14 billion by fiscal 2025, representing a 21% annualized growth rate [7] Competitive Landscape - Qualcomm faces intense competition from major tech companies that have developed effective AI chips generating substantial sales [9] - Despite the competition, the demand for AI chips remains high, with tech giants planning to increase their spending on AI technology in 2026 [10] Investment Considerations - The AI industry is expected to have multiple winners as spending increases, and investors should monitor Qualcomm's progress in AI chips [11] - Qualcomm's stock is characterized as a relatively slow mover, providing investors with an opportunity to enter the market early once momentum builds [11]