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Technology Stocks : Qualcomm Moderated Thread - please read rules before posting
QCOM 175.23+0.3%11:04 AM EST
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To: voop who wrote (195061)8/3/2025 12:08:42 AM
From: waitwatchwander8 Recommendations

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Fiscal 26 (next year) will be most telling. So far Apple revenue has yet to significantly decline (YTD YoY).

I believe Apple is reporting handset unit volumes up 4% over last year while YTD Qualcomm chipsets revenues from Apple as of last qtr grew ~1% (QCT growth 16.6% less non Apple growth +15%). I see the differences here accounted for by modem price increases less modem units lost to C1 usage. Both these items only affect the last of the 3 YTD qtrs.

Design in for next year's phones are likely completed now and the next few qtrs should give us an idea where the base case percentage for use of the current C1 modem may fall.

It is all very fluid and only Apple and Qualcomm execs likely know what's planned for shipment.

Setting the iphone high end todate at an X71 is somewhat telling as the C1 has yet to attain it's level of performance.

As to 2027, Qualcomm has to say zero today as they have no contract beyond 2026.

My take on the 20%, 80% and 100% declines is they are all worse case scenarios for Qualcomm. If these numbers are to be achieved lots has to go right for Apple.
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