Jason Luongo
Growth-Stock Options Trader, LEAPS & Income Strategies
Qualcomm is still priced as a phone company even as diversification absorbs the loss of Apple modem revenue. Non-handset revenue is now about 34% of QCT; automotive revenue grew 38% to $1.3 billion, with 50% growth guided for Q3 and an exit above $6 billion for FY2026. Snapdragon X2 Elite gives it edge-AI leadership, with over 100 Copilot+ PC designs. Q2 FY2026 beat on revenue of $10.6 billion and EPS of $2.65. The Apple overhang of about $6-8 billion is priced in and nearly over. x.com
Qualcomm is shifting from a smartphone-dependent chipmaker to powering AI on every device, from cars and AI laptops to smart glasses, robotics and industrial edge computing. Automotive and IoT revenue grew 27% combined in FY2025, automotive now tops $1B a quarter with a $6B+ annualized target, and FY2025 non-GAAP EPS rose 18% to $12.03. Unlike many AI names it is already highly profitable, with a new $20B buyback, and could become one of semis' most overlooked AI compounders. x.com
Qualcomm can earn more per vehicle as automakers adopt more capable connectivity, cockpit and driver-assistance platforms, even if vehicle sales are slow. Its CFO said chip content rises 8× from Gen 2 to Gen 4; fiscal Q3 automotive revenue grew 61% to $1.59B. Design wins enter production as new models launch, offering a financial example of the broader physical-AI opportunity. x.com
Qualcomm has a terrible position in every market it competes in and is not cheap enough to compensate. It faces Nvidia in cars, Intel and AMD in data-center CPUs, and Samsung and Google on their own phones. China is a material share of revenue, and Apple is aggressively cutting out Qualcomm's modem, a long-term revenue headwind. @citrini, bullish since December, made a good call, but the short stands; it also works as a funding short against long compute names such as AMD, SanDisk and Lumentum. … Show more
Qualcomm has little downside with Amazon having come in as an investor at around $160 a share. Investors give it almost no credit for AI, wearables, robotics and auto, and those businesses can do the heavy lifting to keep the stock steady next year. x.com
Anduril's BlueChip partnership is huge for Qualcomm because it extends its role from radio chips to secure US military and government laptops. BlueChip uses Snapdragon X; preorders are planned for 2027, and some supplier agreements remain unfinished. x.com x.com
Qualcomm stays a Hold, with the target cut to $186 on handset weakness and limited near-to-mid-term data-center visibility. Fiscal Q4 2026 revenue guidance of $9.7-10.5B fell short of buy-side chatter near $11B; Android faces elevated wafer inventories and Apple modem revenue is falling faster than expected. Data-center targets of $5B in FY27 and $15B+ in FY29 were reaffirmed and AI250 has four major US cloud customers, but high LPDDR5 prices hurt its competitiveness, and CPUs are years off. … Show more
Qualcomm is about to have its time to shine as on-device AI drives growth. Its Snapdragon platforms bring high-performance, low-power computing to edge AI, and it is expanding beyond phones into cars, industrial and smart devices, backed by leadership in 5G, Wi-Fi and next-generation wireless. x.com
Qualcomm's investor day strengthened the long case, as its CFO raised FY2029 non-handset revenue guidance 91% to $40B. Qualcomm disclosed major orders from two hyperscalers, said its Dragonfly C1000 data-center CPU launches in mid-2028 with Meta among the first customers, introduced the AI300 accelerator and data-center interconnect, and expects $6B of annualized automotive revenue in FY2026. It also agreed to buy AI software firm Modular for $3.9B. x.com
Apple dropping Qualcomm in favor of its own chips is a warning sign for Qualcomm. When Apple dumped Intel's chips, it marked five years of pain for Intel. Around $150 would be the right level to step in. x.com
Qualcomm looks undervalued among tech stocks given its opportunities in physical AI, CPUs and an emerging data-center market. x.com
