At its 2024 Investor Day, Qualcomm Inc. (QCOM) presented an array of significant growth and diversification avenues. Positioned strategically at the edge, Qualcomm anticipates unlocking a total addressable market (TAM) of approximately $900 billion by 2030, with forecasts suggesting the shipment of over 50 billion connected edge devices from 2024 to 2030.
The company introduced new five-year financial goals for its QCT division, predicting substantial growth across various sectors by fiscal year 2029. Notably, Qualcomm projects combined revenues from its Automotive and IoT sectors to reach $22 billion, with Automotive anticipated to generate $8 billion and IoT forecasted to grow to $14 billion.
Furthermore, Qualcomm foresees its PC segment producing $4 billion in revenues, with the Industrial sector expected to mirror this figure. The XR (extended reality) business is projected to exceed $2 billion in growth, while the remainder of the IoT sector is set to contribute an additional $4 billion in revenues by fiscal year 2029.
