Qualcomm Sets New Growth Targets, Showcasing Company’s Opportunity as On-Device AI Accelerates Demand for its Technologies
– Unique Position at the Edge Drives an Expanded TAM of
– Transformation Redefines Qualcomm, Diversifies Customer Base and Accelerates Growth –
“Qualcomm’s focus on diversification and industry-leading technology roadmap has significantly strengthened the Company’s growth profile,” said Cristiano Amon, President & CEO, Qualcomm Incorporated. “As generative AI accelerates demand for our technology and we become increasingly relevant across multiple industries, Qualcomm is well positioned to address a
Qualcomm provided new five-year financial targets for its QCT business, including:
-
Automotive and IoT to drive combined revenues of
by FY29$22 billion -
Automotive revenues to grow to
by FY29$8 billion -
IoT to grow to
in revenues by FY29$14 billion -
PC to grow to
in revenues by FY29$4 billion -
Industrial to grow to
in revenues by FY29$4 billion -
XR to grow to more than
in revenues by FY29$2 billion -
Rest of IoT to grow to
in revenues by FY29$4 billion
-
PC to grow to
-
Automotive revenues to grow to
At its Investor Day, Cristiano Amon, along with Akash Palkhiwala, Chief Financial Officer and Chief Operating Officer, Qualcomm Incorporated; Nakul Duggal, Group General Manager of Automotive, Industrial and Cloud, Qualcomm Technologies, Inc.; Alex Katouzian, Group General Manager of Mobile, Compute and XR, Qualcomm Technologies, Inc.; and Durga Malladi, Senior Vice President and General Manager of Technology Planning & Edge Solutions, Qualcomm Technologies, Inc., outlined the company’s traction and expanded opportunities for diversification. Their full presentations and a replay of the event are available here.
About Qualcomm
Qualcomm relentlessly innovates to deliver intelligent computing everywhere, helping the world tackle some of its most important challenges. Our proven solutions drive transformation across major industries, and our Snapdragon® branded platforms power extraordinary consumer experiences. Building on our nearly 40-year leadership in setting industry standards and creating era-defining technology breakthroughs, we deliver leading edge AI, high-performance, low-power computing, and unrivaled connectivity. Together with our ecosystem partners, we enable next-generation digital transformation to enrich lives, improve businesses, and advance societies. At Qualcomm, we are engineering human progress.
Qualcomm Incorporated includes our licensing business, QTL, and the vast majority of our patent portfolio. Qualcomm Technologies, Inc., a subsidiary of Qualcomm Incorporated, operates, along with its subsidiaries, substantially all of our engineering and research and development functions and substantially all of our products and services businesses, including our QCT semiconductor business. Snapdragon and Qualcomm branded products are products of Qualcomm Technologies, Inc. and/or its subsidiaries. Qualcomm patented technologies are licensed by Qualcomm Incorporated.
Note Regarding Forward-Looking Statements
This news release contains forward-looking statements that are inherently subject to risks and uncertainties, including but not limited to statements regarding: our growth and diversification opportunities, including those in automotive and the internet of things (IoT), and opportunities arising from the continued adoption of artificial intelligence (AI) technologies; our business and share trends, as well as market and industry trends, such as on-device Generative AI, and their potential impact on our business and our positioning to take advantage thereof; our TAM expansion and our being well positioned to address such expanded opportunity; our expectations for connected edge device shipments from 2024 through 2030; our technology roadmap and growth profile; anticipated demand for our products and technologies; and our various five-year revenue targets. Forward-looking statements are generally identified by words such as “estimates,” “guidance,” “forecast,” “target,” “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks” and similar expressions. Actual results may differ materially from those referred to in the forward-looking statements due to a number of important factors, including but not limited to: our dependence on a small number of customers and licensees, and particularly from their sale of premium-tier handset devices; our customers vertically integrating; a significant portion of our business being concentrated in
View source version on businesswire.com: https://www.businesswire.com/news/home/20241119340813/en/
Qualcomm Contact:
Clare Conley
Media Relations
1-858-845-5959
corpcomm@qualcomm.com
Mauricio Lopez-Hodoyan
Investor Relations
1-858-658-4813
ir@qualcomm.com
Source: Qualcomm Incorporated