Qualcomm CFO Sees Strong Revenue Growth From Amazon Deal, Eyes Top Auto Chip Spot
QCOM sits 45% above its 52-week low of $121.99.
Summary
Qualcomm's CFO told a Goldman Sachs conference that the Amazon collaboration will drive strong year-over-year revenue growth from FY2027 to FY2028. He also said Qualcomm expects to become the largest chip supplier to the automotive industry next year and has strong engagement with another hyperscaler beyond Amazon. These forward-looking statements add new financial and strategic context to the Amazon deal announced earlier today. The automotive claim signals continued momentum in a segment that grew 61% last quarter. The mention of another hyperscaler suggests the data center pipeline extends beyond the two announced customers.
At the time of this announcement, QCOM was trading at $177.39 on NASDAQ in the Technology sector, with a market capitalization of approximately $186.3B. The 52-week trading range was $121.99 to $259.92. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.