QUALCOMM

Strong Start to FY2025: Record Revenues and EPS Growth Qualcomm (QCOM) started off on a strong note in Fiscal Year 2025 by posting historic revenues of $11.7 billion, up 18% year-on-year (YoY). The company's top-line performance was driven by strong performances by its key business units, led by revenues of $10.1 billion by QCT (Qualcomm CDMA Technologies).

Trading at 38.6% below our estimate of its fair value Earnings are forecast to grow 11.14% per year Earnings grew by 1.7% over the past year Pays a reliable dividend of 2.06% Trading at good value compared to peers and industry Analysts in good agreement that stock price will rise by 33.6% RISK ANALYSIS QCOM passed our risk checks.

Key Takeaways Diversification in automotive and IoT, alongside AI adoption, positions Qualcomm for robust revenue and margin growth in non-handset markets. Snapdragon's strength in premium handsets and potential PC market expansion are key drivers of Qualcomm's content growth and market share increase.