Qualcomm Conference Call Summary
What slowdown in autos? We had share gains in automotive as we are tied to the launch of new autos that are adding additional content; thus, we had record automotive revenue with 12% sequential growth.<br /><br />What slowdown in handsets? We saw healthy demand in Android, and slightly higher-than-expected handset units helped us report at the high end of guidance. We see global handset growth in 2024, our inventories are normalized with Android, and we now have both Apple and Samsung under contract.<br /><br/>Our overall product mix helped us improve margins, and we expect that to continue in the near term.<br /><br />Furthermore, the trough in IoT appears to be behind us, and it seems that everyone is now ready to join us on the quest to bring on-device AI to market.