Welcome to our dedicated page for Qualcomm news (Ticker: QCOM), a resource for investors and traders seeking the latest updates and insights on Qualcomm stock.
Qualcomm Inc. (QCOM) is a leading American multinational corporation headquartered in San Diego, California, and incorporated in Delaware. Known for its innovative contributions to wireless technology, Qualcomm develops and licenses essential technology and designs semiconductors for mobile devices. Core to its business are its patents related to 5G, 4G, CDMA2000, TD-SCDMA, and WCDMA standards, which are integral to modern mobile communication networks.
In addition to licensing its technology to nearly all wireless device makers, Qualcomm stands as the world's largest supplier of wireless chips, providing advanced processors to top-tier smartphone manufacturers. The firm's expertise also extends into RF-front end modules, automotive technology, and the Internet of Things (IoT), showcasing a diverse portfolio that goes beyond mobile devices.
Recent achievements include the Qualcomm® Thinkabit Lab™, an initiative engaging over 100,000 youth in hands-on engineering projects since its inception in 2014. This program, in collaboration with STEM Next, aims to ignite interest in STEM careers among students across multiple states.
Qualcomm's global reach is further exemplified by its ecosystem programs such as the Qualcomm Vietnam Innovation Challenge (QVIC), Qualcomm Innovate in Taiwan Challenge (QITC), and the Africa Innovation Platform. These initiatives support startups with technology training, business coaching, and intellectual property mentoring, fostering innovation and entrepreneurship in emerging markets.
Financially, Qualcomm has made significant investments in R&D, exceeding $85 billion over the years, resulting in a robust patent portfolio of over 160,000 patents and applications. The company's focus on future technologies includes advancements in AI, 6G, and multimedia, ensuring its leadership position in the industry.
Qualcomm's commitment to sustainability is evident through its collaborations with suppliers on environmental initiatives and renewable energy projects. The company continues to drive innovation, societal advancement, and sustainability, making substantial contributions to the global technology landscape.
Qualcomm (NASDAQ: QCOM) has announced leadership changes with Dr. Baaziz Achour appointed as Chief Technology Officer, effective February 3, 2025, succeeding Dr. James Thompson who will retire after 33 years with the company. Dr. Achour, currently serving as Deputy CTO, will lead Qualcomm's R&D and engineering organizations, overseeing technology strategy and execution.
Dr. Achour joined Qualcomm in 1993 as a Systems Engineer and has been instrumental in developing multiple generations of wireless technology, including the accelerated launch of 5G. He holds 24 U.S. patents in wireless communications and will lead the evolution towards 6G technology. Dr. Achour has a B.S. in Physics from the University of Algiers and master's and doctorate degrees in Electrical Engineering from Tufts University.
Qualcomm Technologies' senior director of AI product management, Dr. Chirag Patel, shares insights into his 18-year journey at the company and his transition from wireless to AI technology. With over 750 patents granted globally, Patel leads the generative AI technology portfolio, focusing on bringing AI concepts to market. His work includes developing the AI Model Efficiency Toolkit (AIMET) and launching several world-first edge, on-device generative AI demonstrations. Patel emphasizes the growing impact of AI across smartphones, automotive, IoT, and various industries, highlighting Qualcomm's role in advancing edge AI technology.
Qualcomm Technologies and Honeywell announced an expanded collaboration to develop AI-powered solutions for the energy sector. Honeywell will integrate Qualcomm's connectivity and AI technologies into applications like the Field Process Knowledge System (PKS). The partnership combines Qualcomm's low-power AI processors and wireless connectivity with Honeywell's sensing technologies to create industrial sensors for monitoring various parameters.
The collaboration aims to enable faster data capture, enhanced analytics at the edge, and improved field technician efficiency. In 2025, Honeywell plans to add Computer Vision capabilities to their Field PKS through the Multi-Modal Intelligent Agent powered by Qualcomm Technologies.
Qualcomm (NASDAQ: QCOM) unveiled ambitious growth targets at its 2024 Investor Day, highlighting an expanded Total Addressable Market (TAM) of approximately $900 billion by 2030. The company expects over 50 billion connected edge device shipments from 2024 through 2030.
The company announced specific five-year financial targets for its QCT business, including: Automotive and IoT combined revenues of $22 billion by FY29, with Automotive reaching $8 billion, IoT $14 billion, PC $4 billion, Industrial $4 billion, XR over $2 billion, and Rest of IoT $4 billion by FY29.
Qualcomm (NASDAQ: QCOM) reported strong financial results for Q4 and fiscal year 2024. The company achieved $39.0 billion in fiscal 2024 GAAP revenues, with GAAP EPS of $8.97 and Non-GAAP EPS of $10.22. Q4 revenues reached $10.2 billion, up 19% year-over-year, with net income increasing 96% to $2.9 billion. The QCT segment saw 18% revenue growth to $8.7 billion, while QTL revenues grew 21% to $1.5 billion. The company returned $7.8 billion to shareholders through stock repurchases and dividends in fiscal 2024, demonstrating strong cash flow performance.
Qualcomm has announced its upcoming fourth quarter and fiscal 2024 earnings release schedule. The company will publish its financial results on Wednesday, November 6, 2024, after market close on their Investor Relations website. The earnings release will be filed with the SEC via Form 8-K. A conference call to discuss the results will be held the same day at 1:45 p.m. Pacific Time. An audio replay will be available online and via telephone for 30 days following the live call.
Qualcomm (NASDAQ: QCOM) has announced a quarterly cash dividend of $0.85 per common share. This dividend will be payable on December 19, 2024, to stockholders of record at the close of business on December 5, 2024. The announcement demonstrates Qualcomm's commitment to returning value to its shareholders through regular dividend payments.
Qualcomm, Aramco, and Saudi Arabia's Research, Development and Innovation Authority (RDIA) are planning to launch Design in Saudi Arabia (DISA), an incubator program aimed at supporting AI and IoT startups for industrial innovation in the Kingdom and region. The initiative would provide technical assistance, business coaching, and IP training to early-stage startups, helping them from product design to commercialization.
Startups may gain access to Qualcomm's technology platforms, Aramco's Saudi Accelerated Innovation Lab, and RDIA's strategic guidance. The program intends to offer incubation support, lab facilities, and financial grants. Selected startups could collaborate with Qualcomm's business teams and explore global commercial opportunities. This initiative aims to diversify Saudi Arabia's economy, support local content, and create innovative growth opportunities.
Qventus, an AI platform company for healthcare operations, has appointed Jamie Eisinger Burgess as Senior Vice President of Marketing. Burgess brings over 15 years of experience in global brand, product, and growth marketing. She will oversee brand and product marketing, growth marketing, creative, and communications at Qventus.
Prior to joining Qventus, Burgess led Marketing and Strategic Partnerships at BrightInsight, a digital health platform for biopharma. She was also a founding member of Qualcomm Life, Inc. Burgess's appointment is expected to solidify Qventus's leadership position and accelerate its growth in the healthcare AI sector.
Qualcomm Incorporated (NASDAQ: QCOM) has announced the release of its financial results for the third quarter of fiscal 2024. The earnings report is available on the company's Investor Relations website and will be filed with the SEC on Form 8-K. Qualcomm will host a conference call on July 31, 2024, at 1:45 p.m. Pacific Time to discuss the fiscal Q3 results. An audio replay will be accessible via the company's website and telephone for 30 days after the live call. The company encourages investors to review the information on its Investor Relations website, which may contain material information about Qualcomm.
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