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

To: Bill Wolf who wrote (196521)	11/6/2025 1:48:33 PM
From: GR8FORM	1 Recommendation Recommended By Dr. John Respond to of 196772

Word Salad: Baird analyst Tristan Gerra said he expects Qualcomm to be a transformed company by the calendar year 2028, warranting a higher multiple. By then, the analyst expects handset revenue to be decisively below 50% of total revenue, and automotive and IoT are expected to grow at a double-digit year-over-year (YoY) rate. The analyst noted that the management continues to expect its market share at Apple to decline to 20% by September 2026. This, combined with a shift from a 100% to a 75% share at Samsung in the March Quarter, prompted the analyst to forecast flat to lower annual revenue through fiscal year 2027. This could be augmented by revenue related to artificial intelligence (AI). Gerra also noted that incremental, AI-related opex will likely increase by $15 million to $20 million per quarter, starting in the March quarter. That said, he remained skeptical of the company’s AI opportunity at hyperscalers. While maintaining an ‘Outperform’ rating, the analyst reduced the price target for the stock to $200 from $216.