STOXPO
  • Latest News
  • Technology
    • Software
    • Semiconductors
  • Healthcare
    • Biotechnology
    • Pharmaceuticals
  • Crypto
    • Altcoins
    • Bitcoin
    • Ethereum
  • Companies
    • Micro-Cap
    • Small-Cap
    • Mid-Cap
    • Large-Cap
    • Mega-Cap
  • Q&A’s
  • Contributions
No Result
View All Result
  • Latest News
  • Technology
    • Software
    • Semiconductors
  • Healthcare
    • Biotechnology
    • Pharmaceuticals
  • Crypto
    • Altcoins
    • Bitcoin
    • Ethereum
  • Companies
    • Micro-Cap
    • Small-Cap
    • Mid-Cap
    • Large-Cap
    • Mega-Cap
  • Q&A’s
  • Contributions
No Result
View All Result
STOXPO
No Result
View All Result
Home Companies Large-Cap
investing

Qualcomm Eyes $22 Billion Revenue Boost by 2029 Amid Strategic Shift

byLiliana Vida
November 20, 2024
in Large-Cap, Semiconductors
Reading Time: 3 mins read
Share on TwitterShare on LinkedIn

CEO Cristiano Amon Stresses Expansion Beyond Smartphones, Despite Investor Skepticism

Qualcomm (QCOM) the world’s largest supplier of smartphone processors, is pivoting towards new markets to reduce its reliance on mobile revenue, targeting an additional $22 billion in annual sales from emerging categories by fiscal 2029. Despite the ambitious outlook, investors were unimpressed, sending the company’s shares down as much as 6.5% to $154, marking its steepest intraday decline in over two months.

A Strategic Shift
Speaking in a Bloomberg Television interview, Qualcomm CEO Cristiano Amon defended the company’s strategy, emphasizing its focus on innovation and diversification. “Our strategy is working,” Amon stated. “We’ve executed on what we said we were going to do.”

Qualcomm’s diversification push spans automotive chips, the Internet of Things (IoT), and processors for personal computers (PCs) — a market traditionally dominated by Intel Corp. Amon is betting big on these sectors, projecting $14 billion in IoT revenue, $8 billion from automotive chips, and $4 billion from PC processors annually by 2029.

Progress in PCs and IoT
Amon highlighted significant progress in PC chips, with sales reportedly “exceeding expectations.” Qualcomm has positioned itself as a key player in the burgeoning PC market, buoyed by growing demand for high-performance chips tailored for connected devices and edge computing.

The IoT category, which encompasses industrial machinery, virtual reality gear, and connected consumer devices, represents the largest slice of Qualcomm’s future revenue pie. “Our market opportunity within IoT continues to grow as devices become more intelligent and connected,” Amon explained.

Challenges on the Horizon
Qualcomm’s reliance on Apple Inc. remains a potential vulnerability. While the iPhone maker has extended its supply agreements with Qualcomm in the past, it is actively developing in-house radio connectivity components, a move that could diminish Qualcomm’s revenue from one of its largest customers. Amon, however, expressed confidence in Qualcomm’s ability to hit its 2029 targets, even without Apple.

Another area of concern is China, Qualcomm’s largest revenue-generating region. Despite geopolitical tensions and trade tariffs, Amon remains optimistic, citing the enduring appeal of Qualcomm’s advanced chip capabilities. “Our technology exports position us well in China, where demand remains robust,” he said.

Steering Clear of Major Acquisitions
While diversification often spurs acquisitions, Amon dismissed the need for large-scale deals, including rumored interest in parts of Intel. “At this time, we have not identified any large acquisition that is necessary for us to execute on this $22 billion target,” he affirmed. Instead, Qualcomm plans to leverage its existing capabilities and organic growth to achieve its goals.

The Bigger Picture
Looking beyond 2029, Qualcomm has set its sights on a total market opportunity of $900 billion by 2030, underscoring the transformative potential of its expansion strategy. By the end of the decade, Amon anticipates that non-smartphone revenue will account for roughly half of Qualcomm’s total sales.

Investor Skepticism vs. Long-Term Vision
Despite Amon’s confidence, investor sentiment suggests lingering doubts about Qualcomm’s ability to execute its ambitious plans. The lackluster response to the company’s recent investor presentation highlights the challenge of convincing stakeholders of the viability of its long-term strategy.

Nonetheless, Amon remains undeterred, emphasizing the company’s track record of delivering on its commitments. “We are building a diversified business that aligns with the growing demand for connectivity across industries,” he said.


Qualcomm’s transition from a smartphone-centric business to a diversified tech powerhouse represents a bold shift in strategy. While challenges persist, including reliance on key customers and investor skepticism, the company’s focus on IoT, automotive, and PC markets positions it to capitalize on emerging opportunities. If Qualcomm delivers on its ambitious targets, it could redefine its role in the semiconductor industry by the end of the decade.

You might like this article:Nvidia Dominates the AI Hardware Race as CAPEX Spending Soars

Tags: BreakingGrowthMoversNewssemiconductorsStock Market
Previous Post

Nvidia Dominates the AI Hardware Race as CAPEX Spending Soars

Next Post

Palo Alto Networks Posts Strong Q1 Growth, Announces Stock Split and Raises FY2025 Guidance

Related Posts

virtual makeup

Ulta Beauty Posts Strong Q2 Results with 9.3% Sales Growth

byLuca Blaumann
August 28, 2025
0

Acquisition of Space NK and Robust Consumer Demand Drive Performance Ulta Beauty (ULTA) delivered a strong second quarter in fiscal...

tesla-2

Tesla’s European Sales Slide Deepens Amid Rising Competition

byLuca Blaumann
August 28, 2025
0

Registrations plunge over 40% in July as rivals gain ground and Musk faces reputational challenges Tesla’s (TSLA) struggles in Europe...

Nvidia Surpasses Earnings Expectations as AI Demand Fuels Growth

byLuca Blaumann
August 27, 2025
0

Chipmaker Projects Strong Outlook Despite China Export Restrictions Nvidia reported quarterly earnings on Wednesday that exceeded Wall Street expectations, highlighting...

Next Post

Palo Alto Networks Posts Strong Q1 Growth, Announces Stock Split and Raises FY2025 Guidance

Latest News

Professional Diversity Network Partners with OOKC Group to Build Web3.0 Banking Platform

Ulta Beauty Posts Strong Q2 Results with 9.3% Sales Growth

Tesla’s European Sales Slide Deepens Amid Rising Competition

Nvidia Surpasses Earnings Expectations as AI Demand Fuels Growth

Cracker Barrel Reverts to Classic Logo After Backlash and Trump Pressure

Based on Your Interest

Large-Cap

U.S. Secures 10% Stake in Intel Amid Tumultuous Turnaround

August 25, 2025
Large-Cap

Casual Dining’s Comeback: Why Sit-Down Chains Are Beating Fast Casual

August 21, 2025
Large-Cap

Intel Seeks More Equity Infusions Amid Mounting Financial Strains

August 20, 2025

Recommended

Mid-Cap

Viking Therapeutics Shares Plunge After High Dropout Rate in Weight-Loss Pill Trial

August 19, 2025
Large-Cap

Intel Shares Surge After $2 Billion SoftBank Investment

August 19, 2025
Bitcoin

Strategy Expands Bitcoin Holdings With $51 Million Purchase

August 18, 2025
Aerospace & Defense

Amphenol Expands Defense Portfolio With $1 Billion Trexon Acquisition

August 18, 2025
Insurance

Buffett Bet Sends UnitedHealth Shares Soaring

August 18, 2025
Stoxpo

Follow us on social media:

Highlights

  • Professional Diversity Network Partners with OOKC Group to Build Web3.0 Banking Platform
  • Ulta Beauty Posts Strong Q2 Results with 9.3% Sales Growth
  • Tesla’s European Sales Slide Deepens Amid Rising Competition
  • Nvidia Surpasses Earnings Expectations as AI Demand Fuels Growth
  • Cracker Barrel Reverts to Classic Logo After Backlash and Trump Pressure

Category

  • Blog
  • Communication Services
    • Entertainment
    • Internet
    • Telecommunications
  • Companies
    • Large-Cap
    • Mega-Cap
    • Micro-Cap
    • Mid-Cap
    • Small-Cap
  • Consumer Cyclical
    • Auto Manufacturers
    • Casinos & Gambling
    • Ground Transportation
    • Hospitality
      • Casinp
      • Resorts & Lodging
      • Restaurants
      • Travel
        • Airlines
    • Retail
    • Textiles, Apparel & Luxury Goods
  • Consumer Defensive
    • Beverages
    • Discount Stores
    • Distributor
    • Ecommerece
    • Electrical Equipment
    • Foods
    • Household & Personal Products
    • Leisure Products
    • Tobacco
  • Contributions
  • Crypto
    • Altcoins
    • Bitcoin
    • Ethereum
  • Economy
  • Energy
    • Electric
    • Oil & Gas
    • Renewables
  • Financial Services
    • Asset Management
    • Banks
    • Brokerages
    • Credit Services
    • Insurance
  • Healthcare
    • Biotechnology
    • Medical Devices
    • Pharmaceuticals
  • Industrials
    • Aerospace & Defense
    • Construction
    • Industrial Machinery
  • Materials
    • Building Materials
    • Chemicals
    • Gold
    • Mining
    • Silver
    • Steel
  • Q&A's
  • Real Estate
  • Technology
    • Artificial Intelligence
    • Computer Hardware
    • Consumer Electronics
    • Cybersecurity
    • IT Services
    • Semiconductors
    • Software
  • Utilities

Latest News

Professional Diversity Network Partners with OOKC Group to Build Web3.0 Banking Platform

August 29, 2025
virtual makeup

Ulta Beauty Posts Strong Q2 Results with 9.3% Sales Growth

August 28, 2025
tesla-2

Tesla’s European Sales Slide Deepens Amid Rising Competition

August 28, 2025
  • About
  • Privacy Policy
  • Contact

© 2024 All Rights Reserved: STOXPO.

No Result
View All Result
  • Latest News
  • Healthcare
    • Biotechnology
    • Pharmaceuticals
  • Technology
    • Software
    • Semiconductors
  • Crypto
    • Bitcoin
    • Ethereum
    • Altcoins
  • Companies
    • Micro-Cap
    • Small-Cap
    • Mid-Cap
    • Large-Cap
    • Mega-Cap
  • Q&A’s
  • Contributions

© 2024 All Rights Reserved: STOXPO.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Read More

In case of sale of your personal information, you may opt out by using the link Do Not Sell My Personal Information

Accept Cookie Settings
Cookies are small text files that can be used by websites to make a user's experience more efficient. The law states that we can store cookies on your device if they are strictly necessary for the operation of this site. For all other types of cookies we need your permission. This site uses different types of cookies. Some cookies are placed by third party services that appear on our pages.
  • Always Active
    Necessary
    Necessary cookies help make a website usable by enabling basic functions like page navigation and access to secure areas of the website. The website cannot function properly without these cookies.
  • Marketing
    Marketing cookies are used to track visitors across websites. The intention is to display ads that are relevant and engaging for the individual user and thereby more valuable for publishers and third party advertisers.
  • Analytics
    Analytics cookies help website owners to understand how visitors interact with websites by collecting and reporting information anonymously.
  • Preferences
    Preference cookies enable a website to remember information that changes the way the website behaves or looks, like your preferred language or the region that you are in.
  • Unclassified
    Unclassified cookies are cookies that we are in the process of classifying, together with the providers of individual cookies.
Cookie Settings

Do you really wish to opt-out?