Qualcomm Incorporated has outlined its opportunities for growth and diversification at its 2024 Investor Day. The company’s position at the edge is driving access to an expanded TAM of approximately US$900 billion by 2030, with more than 50 billion cumulative connected edge device shipments expected from 2024 through 2030.
“Qualcomm’s focus on diversification and industry-leading technology roadmap has strengthened the Company’s growth profile,” said Cristiano Amon, the president and CEO at Qualcomm Incorporated. “As generative AI accelerates demand for our technology and we become increasingly relevant across multiple industries, Qualcomm is well positioned to address a US$900 billion opportunity by 2030 across an expanding ecosystem of new customers and partners.”
Qualcomm provided new five-year financial targets for its QCT business, including:
- Automotive and IoT to drive combined revenues of US$22 billion by FY29
- Automotive revenues to grow to US$8 billion by FY29
- IoT to grow to US$14 billion in revenues by FY29
- PC to grow to US$4 billion in revenues by FY29
- Industrial to grow to US$4 billion in revenues by FY29
- XR to grow to more than US$2 billion in revenues by FY29
- Rest of IoT to grow to US$4 billion in revenues by FY29
At its Investor Day, Cristiano Amon, along with other executives outlined the company’s traction and expanded opportunities for diversification. Their full presentations and a replay of the event are available here.
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