Qualcomm Accelerates Diversification with Comprehensive Strategy for Data Center and Sees Multiple Inflection Points Over the Next 3 to 5 Years

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• Qualcomm anticipates an agent-driven upgrade cycle across the edge in future years as agentic AI proliferates.

  60% confidence

• Qualcomm targets more than $18 non-GAAP EPS in fiscal 2029.

  60% confidence

• Qualcomm is defining its next chapter by accelerating its edge diversification strategy, introducing a comprehensive roadmap for next-generation AI data centers, and evolving into a platform company with unparalleled capabilities in low-power computing, AI and connectivity.

  60% confidence

• Qualcomm's next phase builds on accelerated diversification and proven operating leverage while funding new growth opportunities.

  60% confidence

• Handsets are expected to represent approximately one-third of QCT revenues by fiscal 2029, down from a larger share today.

  60% confidence

• Looking beyond fiscal 2029, Qualcomm sees continued secular growth across data center, robotics, ADAS and autonomous driving, industrial AI, personal AI and 6G, with agentic AI expected to drive a new upgrade cycle across intelligent connected devices.

  60% confidence

• Multiple large markets are reaching inflection points as AI compute becomes increasingly distributed across devices, edge and cloud over the next 3-5 years, representing a combined total addressable market of approximately $1.7 trillion by 2030.

  60% confidence

• IoT revenues are targeted at more than $14 billion by fiscal 2029, including $8 billion from industrial, networking and robotics and $6 billion from personal AI and compute.

  60% confidence

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