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

To: QCOM_HYPE_TRAIN who wrote (197597)	2/5/2026 2:50:47 PM
From: waitwatchwander	2 Recommendations Recommended By Dr. John PNUT Respond to of 197653

Qualcomm tepid forecast signals shaky phone market – BNN Bloomberg Hudson Valley Partners Feb 2026: share.google Oct 2025: youtu.be Calls are all about timing as is win - lose in the markets. Amon is certainly zooming out-and-about today. So busy he hasn't had time to trim his beard.

To: QCOM_HYPE_TRAIN who wrote (197597)	2/5/2026 3:14:21 PM
From: waitwatchwander	Respond to of 197653

You make some good points but I don't take all of it as being the strategic forward plan. How all see matters depends upon who's in the room. Early on I would agree with you that Qualcomm was slow to search out input beyond their sunny San Diego offices. That's subsided quite a bit recently and gets reflected back into a more reactive situation. I like the later much better than the former which was found to be visionary but disconnected from market realities. Much like in everything these days a happy medium middle is what's needed.

To: QCOM_HYPE_TRAIN who wrote (197597)	2/5/2026 5:51:49 PM
From: cold_snowman	5 Recommendations Recommended By aryl Dr. John Ruffian voop waitwatchwander Read Replies (1) \| Respond to of 197653

From QCOM_HYPE_TRAIN >>Fiscal Year IoT Revenue Year-over-Year Change >>2021 $5.06 Billion +67% >>2022 $6.95 Billion +37% >>2023 $5.94 Billion -15% >>2024 $5.42 Billion -9%* >>2025 $6.62 Billion +22% I think the IOT numbers are quite a bit worse than they look once you look what Qualcomm books into this category. E.g. laptops, wearables, XR, consumer devices, FWA, WiFi Access points, cellular infrastructure. This is not your "normal" IOT stuff. Instead these were all touted as big growth drivers for Qualcomm but the IOT revenues are still lower in 2025 over what they were in 2022. Diversification ist just too slow. Look at the entry into the PC market. According to a quick search they talked the first time getting into the PC market (smart books) in 2008. Windows on Snapdragon was discussed in Jan 2017. It's now 9 years later. They must invested enormous amounts of money into this. They always talk about how many OEM they have but are very coy about the volume. There is probably a reason for that and WS knows it, too.

To: QCOM_HYPE_TRAIN who wrote (197597)	2/6/2026 11:13:56 AM
From: Wildbiftek	12 Recommendations Recommended By Dr. John GR8FORM JeffreyHF Jon Koplik kech and 7 more members Read Replies (3) \| Respond to of 197653

I think the ARM interference and subsequent lawsuit was a pretty major roadblock to most of the data center ambitions. This was likely the result of Qualcomm's lobbying against nVidia's acquisition of ARM --the unjustified ARM attempt to block Q's advance both wasted engineering time and lowered customer engagement with Qualcomm's product lines. As for getting out the AI200 in 2024, nVidia's major advantage at that time was in software rather than hardware and Amon's quote from a prior conference was that AI100 was about getting the software stack right before scaling out with the AI200 and 250. The major shift was the mass industry adoption of Transformer models after OpenAI's coup in '22 over the more traditional CNNs --the corresponding shifts in optimizations needed for both software and hardware made the AI100 less competitive. Arguably, nVidia missed this internally as their DLSS models only shifted to Transformers in 2025 --their well used CUDA stack however made them quite sticky externally for training and they were able to ride that software moat up along side the hype despite the unsuitability of their hardware for inference. So forward guidance is affected by ARM interference, and rapid shifts in fundamental language model architecture. Memory is being diverted to data centers but arguably for unsustainable projects energy, revenue, and privacy-wise (cf. nVidia's flip flop on Open AI's $100B commitment.). It's easy to say this is obvious in hindsight, but I don't think it was obvious at the time in the fog of war given the pressures they were under when certain projects were cancelled and others that were interfered with. I still think Qualcomm holds the cards in edge / IoT and (ultimately) data-center inference and they've made the right investments and design decisions here.