icon
icon
icon
icon
🏷️$300 Off
🏷️$300 Off

News /

Articles /

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

Wesley ParkTuesday, Nov 19, 2024 8:35 pm ET
6min read
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.

QCOM Revenue By Business


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.
Comments

Add a public comment...
Post
User avatar and name identifying the post author
RedneckTrader
11/20
I took my profits on $INTC and I have to admit, I feel a bit ashamed.
0
Reply
User avatar and name identifying the post author
Sam__93__
11/20
$INTC If you're holding $INTC, it's essentially dead money right now. You're better off finding a stock that has the potential to double in value.
0
Reply
User avatar and name identifying the post author
MonstarGaming
11/20
$INTC What's the word on the QCOM buyout? Is it happening today or tomorrow?
0
Reply
User avatar and name identifying the post author
pfree1234
11/20
$INTC HOLD-Chips Act Money is on the way. Patience will be handsomely rewarded.
0
Reply
Disclaimer: The news articles available on this platform are generated in whole or in part by artificial intelligence and may not have been reviewed or fact checked by human editors. While we make reasonable efforts to ensure the quality and accuracy of the content, we make no representations or warranties, express or implied, as to the truthfulness, reliability, completeness, or timeliness of any information provided. It is your sole responsibility to independently verify any facts, statements, or claims prior to acting upon them. Ainvest Fintech Inc expressly disclaims all liability for any loss, damage, or harm arising from the use of or reliance on AI-generated content, including but not limited to direct, indirect, incidental, or consequential damages.
You Can Understand News Better with AI.
Whats the News impact on stock market?
Its impact is
fork
logo
AInvest
Aime Coplilot
Invest Smarter With AI Power.
Open App