Qualcomm's Diversification Strategy

Qualcomm is actively pursuing a diversification strategy away from its traditional communications and mobile markets by focusing on Internet of Things (IoT) and automotive sectors. The company emphasized its transition towards becoming more of a compute-centric organization, targeting areas such as edge IoT devices and automotive solutions for growth. Despite presenting optimistic revenue forecasts for 2029, concerns were raised about the challenges of predicting growth in these new markets, particularly given the stagnation in the smartphone sector. Investors expressed skepticism about the feasibility of these long-term forecasts, emphasizing the uncertainty associated with IoT predictions and the slow sales cycle in the automotive industry.