Bloomberg Technology
Qualcomm Eyes $22 Billion Growth, Crypto Sees Political Success
Nov 20, 2024
Joining the discussion are Kunjan Sabani, a Bloomberg Intelligence analyst focused on NVIDIA and semiconductors, and Lucas Shaw, a Bloomberg reporter covering Comcast's strategic shifts. They delve into Qualcomm's ambitious $22 billion growth plan driven by automotive chips and IoT. The conversation also highlights the crypto landscape's evolution, especially following pro-digital currency candidates' success in elections, and Comcast's cable network spin-off in the face of subscriber decline.
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Quick takeaways
- Qualcomm aims to generate $22 billion by diversifying into automotive and IoT sectors, offsetting potential declines in mobile revenues.
- The integration of AI across various applications is crucial for Qualcomm's growth strategy, enhancing market competitiveness and technology innovation.
Deep dives
Qualcomm's Growth Strategy
Qualcomm plans to diversify its revenue streams by expanding into automotive chips and the Internet of Things (IoT). The company anticipates generating approximately $22 billion in additional annual revenue by fiscal 2029, with $8 billion expected from automotive markets and $14 billion from IoT. Qualcomm's CEO, Cristiano Amon, discussed how the potential for modular growth in these sectors is based on their established mobile technology being adaptable for new applications. He emphasized that as non-mobile revenues grow, there is an opportunity for increased market valuation.
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