Qualcomm Reports Strong Q4 Earnings and Growth

Qualcomm reported strong fiscal Q4 2024 earnings, with revenue reaching $10.24 billion, a 19% increase from the previous year, and net income of $2.92 billion, exceeding analyst expectations. The company's stock surged over 8% following the announcement, and it also revealed a $15 billion stock buyback program. Qualcomm's mobile chipset sales grew by 12%, while automotive sales soared by 68%, reflecting a robust demand amid a recovering smartphone market and the rise of AI applications. Looking ahead, Qualcomm forecasts revenue between $10.5 billion and $11.3 billion for the coming quarter, driven by new flagship smartphone launches, particularly in China. However, concerns linger regarding future revenue from Apple, as the tech giant is developing its own modem chips, potentially impacting Qualcomm's market share. Despite these challenges, Qualcomm's strong performance positions it well for ongoing growth in the semiconductor industry.