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

To: Art Bechhoefer who wrote (195037)	8/1/2025 10:23:34 PM
From: Jim Mullens	Read Replies (1) \| Respond to of 196787

Art, re: QCT AAPL modem revenue --- somewhat misleading ................................................ The Copilot view that you provided was useful, but somewhat misleading. As the AI program points out, it's likely that Qualcomm will not sell any modems to Apple in FY26, which starts October 1. Qualcomm may still sell some modems to Apple this calendar year, 2025. But what is misleading is that Qualcomm will continue to receive royalties from Apple >>>>>>>>>>>> Misleading? Copilot provided direct quotes from CA and other QCOM execs that only spoke to the modem question – that I asked. There were no references to royalties revenues, since that wasn’t asked of Copilot. I asked Copilot for clarification on the modem guidance issue (quotes from CA and others) as your prior post to WWW was misleading/ incorrect. ....Qualcomm provides zero guidance on chipset sales to Apple for this current fiscal year and future years. That doesn't mean Qualcomm gets no revenue from Apple, it just means Qualcomm is not counting on any modem sales to Apple. Q3 FY25 Earnings Call (July 2025) Akash Palkhiwala, CFO: “As previously communicated, we continue to assume minimal contribution from Apple modem revenue in fiscal 2025, and no contribution beyond fiscal 2026. This assumption is reflected in our long-term planning and guidance.” These statements show a consistent and deliberate messaging arc: Qualcomm is explicitly guiding to zero Apple modem revenue by FY26, and has already removed it from long-term models.