Qualcomm CEO: New Markets to Drive $22B in Revenue

Qualcomm CEO Cristiano Amon has outlined a strategic plan to diversify the company's revenue streams, with a significant focus on new markets that are expected to generate an additional $22 billion annually by 2029. This expansion, driven by advancements in connected cars, autonomous driving technologies, and PC chips, positions Qualcomm to capture a substantial portion of these growing markets.

Amon, who took the reins in 2021, has sought to broaden Qualcomm's focus beyond smartphones. This includes a bid to sell processors for personal computers, an area long dominated by Intel. The company expects $4 billion from PC chips by 2029, aiming to challenge Intel's dominance in the laptop and desktop market. Qualcomm has already introduced Snapdragon X for Windows devices, leveraging its technology for handset chips, such as modems, processors, and AI accelerators, in new markets.



In the automotive market, Qualcomm expects $8 billion annually by 2029, marking a 175% increase from current levels. This growth is driven by its partnership strategy, with 80% of the expected revenue tied to contracts already secured. Qualcomm's technology, including modems, processors, and AI accelerators, is being leveraged to power connected cars, autonomous driving systems, and infotainment systems. The company's partnerships with major automotive manufacturers, such as General Motors, are key to this growth.



As the automotive industry shifts towards electric vehicles and autonomous driving, Qualcomm's technological prowess positions it well to capture a significant share of this growing market. The company's expansion into the PC market and automotive sector mitigates risks associated with its reliance on smartphone chip sales, reducing exposure to the volatile smartphone market and leveraging its expertise in mobile technologies for in-vehicle infotainment systems and advanced driver-assistance systems.

In conclusion, Qualcomm's strategic expansion into new markets, driven by advancements in connected cars, autonomous driving technologies, and PC chips, positions the company to capture a substantial portion of these growing markets. With a projected $22 billion in new revenue by 2029, investors should consider Qualcomm's potential for long-term, stable growth and enduring business models.