FX.co ★ Qualcomm Unveils Growth Strategy And Financial Targets

At its 2024 Investor Day, Qualcomm Inc. (QCOM) presented an array of significant growth and diversification avenues. Positioned strategically at the edge, Qualcomm anticipates unlocking a total addressable market (TAM) of approximately $900 billion by 2030, with forecasts suggesting the shipment of over 50 billion connected edge devices from 2024 to 2030.

The company introduced new five-year financial goals for its QCT division, predicting substantial growth across various sectors by fiscal year 2029. Notably, Qualcomm projects combined revenues from its Automotive and IoT sectors to reach $22 billion, with Automotive anticipated to generate $8 billion and IoT forecasted to grow to $14 billion.

Furthermore, Qualcomm foresees its PC segment producing $4 billion in revenues, with the Industrial sector expected to mirror this figure. The XR (extended reality) business is projected to exceed $2 billion in growth, while the remainder of the IoT sector is set to contribute an additional $4 billion in revenues by fiscal year 2029.