Qualcomm Inc.


SKU: QCOM Category:


Qualcomm delivered a mixed set of results as its revenues were higher than the market expectations as a result of a solid chipset business performance and good execution of its diversification and expansion plan. However, the company missed out on earnings. The management is working towards transforming Qualcomm from a wireless communications provider for the mobile industry to a provider of linked processors for the intelligent edge. Using their One Technology Roadmap and expertise in wireless connection, high-performance, low-power computing, and on-device AI, they are driving the transformation of industries and the growth of the digital economy by powering smart connected devices at the edge. The fundamentals of Qualcomm’s growth drivers remain unchanged, and there are considerable opportunities soon despite the major macroeconomic headwinds and other short-term problems. During the quarter, they completed the acquisition of Arriver, improving their capacity to offer open, scalable, comprehensively integrated, and cost-effective ADAS solutions. Furthermore, the management took their technology collaboration with Renault Group one step further to deliver a centralized compute architecture for Renault’s next-generation of software-defined vehicles. We give Qualcomm an ‘Outperform’ rating with a revised target price.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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