Qualcomm Confident Amid U.S.-China Tariff Concerns

Qualcomm executives expressed optimism regarding the incoming Trump administration, asserting that proposed U.S. tariffs on China would not negatively impact their business, which derives nearly half of its revenue from that market. At an investor event, the company projected $22 billion in revenue over the next five years from sectors outside of smartphones, including automotive. Qualcomm's relationship with the previous administration was highlighted as a factor for their positive outlook, with executives expecting continued engagement. CEO Cristiano Amon noted that Chinese firms are currently purchasing Qualcomm's automotive chips and emphasized that previous tariffs did not adversely affect their operations. As Qualcomm expands beyond smartphones into various industries, they believe their partnerships with Chinese companies will strengthen. Overall, Qualcomm shares remained stable following these announcements.