Qualcomm's CFO says M&A will help power its diversification strategy [Yahoo! Finance]
Intel Corporation (INTC)
Last intel corporation earnings: 4/23 04:07 pm
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Source: Yahoo! Finance
The Fortune 500 company is taking that chip technology and applying it to other industries that are going through an inflection point, according to Qualcomm's CFO and COO Akash Palkhiwala. Qualcomm anticipates a total addressable market of approximately $900 billion by 2030, according to Palkhiwala, who said the company is pursuing a diversification strategy that goes beyond mobile into automotive, personal computing (including PCs), industrial devices, and extended reality (XR) industries. “We're building new muscles,” Palkhiwala told me. An example? Palkhiwala pointed to the evolution of PCs. Following the onset of the pandemic, he said, PCs have become communication devices, rather than just used for productivity. Qualcomm has core strengths in power-efficient computing and connectivity, he explained. Another area the company prioritizes is on-device AI processing, which addresses demands for data security, Palkhiwala said. Qualcomm has become a credible rival to traditional
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