Qualcomm Just Made Its Biggest AI Bet Yet -- and Investors Are Loving It
Its investor day revealed ambitious plans to more than double its non-handset revenue by fiscal 2029.
Qualcomm Just Made Its Biggest AI Bet Yet -- and Investors Are Loving It
Overview
For years, Qualcomm (NASDAQ:QCOM) has been seen as a premium smartphone chipmaker that raked in billions from the mobile revolution. However, investors may be witnessing the beginning of a new chapter.
At yesterday’s investor day, the company unveiled ambitious plans to more than double its non-handset sales in just three years, to $40 billion. While total revenue growth doesn’t seem significant, what’s huge is the changing revenue composition, driven by AI compute, which signals massive opportunities ahead across multiple large markets. Management estimates a combined total addressable market of $1.7 trillion by 2030.
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Originally published at www.fool.com.
