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Technology Stocks : Qualcomm Moderated Thread - please read rules before posting -- Ignore unavailable to you. Want to Upgrade?

To: Jim Mullens who wrote (175970)	11/1/2022 10:55:54 PM
From: vkvraju5	5 Recommendations Recommended By engineer JeffreyHF Jim Mullens sbfm VinnieBagOfDonuts Respond to of 197011

Hi Jim, Not sure why there is confusion on this but it was quite clear (or so I thought) from the Nov'21 Investor Day that company was guiding 20% share in phones that Apple will sell starting Sept'23. And this 20% assumption is because of their accounting for devices that would sell into N-1, N-2, etc. I agree their wording could have been more clearer. Also the court documents from Germany revealed outcome similar to the above interpretation. Typically at the investor day they give guidance for many years further and this info was to be taken in that context. Now let's say your interpretation was correct. If so, then which business do you think would compensate for the remaining 80% loss from Apple? The guide does not reflect anything lower than last quarter or last year. IoT and Auto are growing but not to the tune to compensate the 80% Apple business loss. Auto will start compensating likely from 2024 onwards. My understanding is management wanted to highlight that going forward Apple business will be just lower single digit for Qualcomm and that analysts need not always tie Qualcomm fate with Apple related news. Hence they made those statements on that day. This is my interpretation. Hopefully we will get to know more on this in the CC scheduled post results tomorrow.

To: Jim Mullens who wrote (175970)	11/2/2022 3:58:11 PM
From: VinnieBagOfDonuts	2 Recommendations Recommended By Dr. John Jim Mullens Respond to of 197011

"In the back of my mind why would Akash be giving guidance for fy23 in Nov of 2021?. But from the full context of Vinnie’s post--- Akash does mention the SAM / revenue between 2021 and 2024." Akash's accompanying presentation slide wasn't giving traditional guidance (like earnings) but rather represented 3yr "financial targets" of key business drivers. The Apple component was highlighting a key assumption for QCT handset revenues.