Wake up, investors! Qualcomm’s stock is on fire, and this is the news you’ve been waiting for. It’s not just about the numbers; it’s about the story those numbers tell. Qualcomm, the world’s leading supplier of smartphone processors, has shattered Wall Street expectations with its fiscal third-quarter report. Here’s what you need to know!
Qualcomm’s bread and butter, handset sales, skyrocketed by 12% year-over-year to hit $5.9 billion. After a period of stagnation in the smartphone industry, this spike is a beacon of recovery. If you’re betting on tech, you need to keep an eye on this trend.
But it doesn’t stop there. Qualcomm’s adjusted earnings per share (EPS) came in at a dazzling $2.33, surpassing Wall Street’s estimate of $2.25 per share. With total revenue hitting $9.39 billion, beating predictions of $9.22 billion, Qualcomm is proving its dominance. Numbers like this aren’t just stats; they’re signals of where the market is headed.
Qualcomm isn’t just resting on its laurels. The company anticipates robust revenue for the current quarter ending in September, projecting sales between $9.5 billion and $10.3 billion. Analysts initially expected $9.71 billion, making this bullish forecast must-see information for savvy investors.
Much of Qualcomm’s success stems from its leadership in high-end smartphone components, particularly those packed with advanced AI capabilities. CEO Cristiano Amon highlighted the trend:
AI has expanded the size of the premium tier. So even in a market which it’s kind of flattish to low single digits in growth, the premium tier is actually growing faster and we’ve seen that
Cristiano Amon
. This can only mean one thing: demand for high-end AI-enabled devices is booming.
Qualcomm isn’t just a smartphone company. Its automotive chip business grew by an eye-popping 87% year-over-year, reaching $811 million. This isn’t just diversification; it’s domination in multiple arenas. And despite an 8% year-over-year decline in IoT revenue to $1.4 billion, Qualcomm still beat StreetAccount expectations. This shows resilience and potential for future growth.
Meanwhile, Qualcomm’s licensing revenue, which includes fees from companies using its cellular technologies, increased by 3% year-over-year to $1.3 billion. This steady stream cements Qualcomm’s position as a tech titan.
Investors, buckle up. Qualcomm’s numbers are not just a stat sheet—they are a roadmap for the future of tech investing. Don’t miss out on this trajectory.
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