Qualcomm CEO on automotive investments: 'As new cars are launched you'll start to see the benefits'

And Qualcomm and end of the day up nearly 10% after a beat and raised quarter driven, pun intended, by the automotive business and premium phones in China. Those are two areas where investors were concerned rivals are showing weakness. I spoke to CEO Cristiano Amon about autos last night after the earnings call. That digital transformation of the car, that’s what we do, that’s the Snapdragon digital chassis which is applied to combustion engine or EV. And the story of Qualcomm is a different story than the market. The story of Qualcomm is the car transition to be a new tip type of car with a lot of digital technologies and Snapdragon became the the preferred platform of the industry. That’s why we had $30 billion of a pipeline back in in late 2022. Now it’s 45, he added 15 billion, which is a demonstration of continue to gain share and a significant amount of the 45 total 1/3 of that is actually a DAS in autonomy, which is just not digital cockpit. And the growing revenues of the 35% when the industry, some of our peers are flat or down was just showing as new cars get launched, you started to see the benefit of Kokomo automotive business and that’s an exciting part of the Qualcomm diversification strategy. Next up, Qualcomm is looking to expand revenues in its IoT unit by rolling out laptop chips that Aman says are going to rival Apples M series chips in their combination of speed and power efficiency. If Qualcomm pulls that off, and this is just me talking, it could be a disruptor of PC CPU chip revenues for Intel and AMD. One of the things we did in the quarter, we actually launched a new product, the X Plus, which basically allow us to go after a broader addressable market, not only premium laptops which are the performance leadership of the industry, but also any laptop above $600.00. So directly we can bring the benefit OEI to a broader range. The way I think about that financially, you know there’s a great event from Microsoft coming with build and the PC launches to others month of May that you’re going to see the products hitting the shelf all the way to back to school calendar. Is going to be a fiscal 25 event, but in fiscal 25 it should starting to be material in our IoT segment. We plan to provide an update at the next earnings call of PC traction.