Qualcomm Shifts Gears Beyond Smartphones

Qualcomm's Investor Day on November 19, 2024, jolted Wall Street as stocks dipped 7% following CEO Cristiano Amon's ambitious reveal to generate $22B annually from automotive and IoT by 2029. Targeting a $900B market by 2030, Qualcomm aims to diversify past slowing smartphone sales and heavy reliance on China. While AI partnerships with Amazon spark optimism, investor skepticism remains high, especially with rumors of losing Apple. Qualcomm bets big on innovation to regain confidence.