Qualcomm looks undervalued among tech stocks given its opportunities in physical AI, CPUs and an emerging data-center market. x.com 

Qualcomm could rerate from a handset chipmaker into an AI infrastructure story now that Amazon is co-developing multiple generations of inference silicon with it. As AI shifts toward stacks built around workloads, power and cost, Qualcomm need not beat Nvidia, only help optimize around the GPU. Amazon and Qualcomm are also working on 1.6T links using Qualcomm SerDes and optical DSPs, entering a space led by Broadcom and Marvell. Deployment volumes and further design wins would confirm it. x.com 

Qualcomm is unlikely to rebound meaningfully this year because on-device AI needs more mobile DRAM that phones are not getting. Industry checks suggest Apple walked back full WMCM packaging for the iPhone 18, adopted to fit more DRAM for on-device AI, using it only in high-end models with no RAM upgrade. If Apple, with the strongest buying power, faces this, Qualcomm would need an extraordinary breakthrough past the memory wall. This counters @citrini's view of it as an edge-AI winner. x.com 

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 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

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 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 

AMD and Intel look undervalued against Arm, while Qualcomm faces two hellish years. AMD is worth only 2x Arm despite 6x higher, faster-growing net profit, and Intel only 70% more than Arm, though its CPU business alone should be worth twice as much on a normalized basis, with foundry covering the rest. Qualcomm was hit by Apple and then memory prices, is being outcompeted by NVIDIA in automotive, and its AI racks are pure desperation. 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