And we’re also heading into a stronger seasonal quarters for us, September and December. And so, what you’re seeing on the balance sheet is really a reflection of what’s coming up. Hey, thanks for taking my question, too. DotBig Maybe I’ll start with my last one, just given the prior question. Just on inventory, I mean, I guess, it is quite a bunch in terms of your inventory in June, 100 days. So we expect to see the seasonal benefit of that.
- And then, also for auto and IoT expansion opportunities there.
- We did see a mix change as we went through the quarter where we ended up slightly lower than we had forecasted at the beginning of last quarter.
- I’m just trying to understand the real punchline on the agreement.
- I would now like to turn the call over to Akash.
- So it expands beyond Galaxy smartphones to include Galaxy books, Windows PCs, Galaxy tablets, future extended reality devices and other devices.
Today, our foundational technologies enable the mobile ecosystem and are found in qcom every 3G, 4G and 5G smartphone. All the fundamentals of strategy are in place.
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What is common between the U.S. and China? Both countries are obsessed with Taiwan due to its control of the semiconductor market. The Semiconductor Industry Association describes semiconductors as the brain of modern elec…
So just from overall Snapdragon and of course, the new launch happens as planned as well. But what we are seeing is the customers buying high, mid, low tiers being DotBig careful with inventory as they manage and kind of work through the market environment. And so, you’re seeing that factored into our guidance going forward.
Qualcomm Incorporated is engaged in the development and commercialization of foundational technologies for the wireless industry. Its segments include Qualcomm CDMA Technologies , Qualcomm Technology Licensing and Qualcomm Strategic Initiatives . QCT segment develops and supplies integrated circuits and system software based on third https://www.chase.com/ generation/fourth generation/fifth generation (3G/4G/5G) and other technologies for use in wireless voice and data… It operates through Qualcomm CDMA Technologies ; Qualcomm Technology Licensing ; and Qualcomm Strategic Initiatives segments. So that’s how we’re approaching the market, and we have seen them be consistent as well.
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Based on the midpoint of our fourth quarter guidance, we’re expecting fiscal ’22 to be an exceptional year. We expect non-GAAP EPS of $12.55, a growth of $4 relative to fiscal ’21. It is the way to think about stability and growth https://dotbig.com/ in our handset business. And one of the things we mentioned in the script that we didn’t talk much about it is the incredible progress we’re making in AI and really building a very competitive development platform for the edge.
Let me now share some of the key achievements from the quarter. In automotive, the Snapdragon Digital Chassis is fast becoming the industry’s platform of choice and is enabling the transition to next-generation vehicles. We are very pleased with the continued traction and design wins across global automakers and Tier 1 partners. Our automotive design win pipeline is now over $19 billion, up approximately $3 billion since fiscal Q2. QSI makes strategic investments that are focused on expanding or opening new opportunities for our technologies as well as supporting the design and introduction of new products and services. Qualcomm Incorporated includes our licensing business, QTL, and the vast majority of our patent portfolio.
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Brett, we’re not providing any Apple updates at this time. And we feel pretty good about our modem road map and 5G. And I think you should expect that Qualcomm will continue to be a leader and especially as modems becoming more difficult as supporting more than one end market beyond smartphones. And then, just for Cristiano, I wanted to follow up on the question on the Samsung agreement because you said last quarter, your share was much higher, that 75%.
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Timeline
Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from its use. This quarter, we delivered revenues of $10.9 billion and non-GAAP earnings of $2.96 per share, driven by solid results in both our chipset and licensing businesses. In our chipset business, revenues of $9.4 billion were up 45% year over year with record revenues in IoT and automotive, demonstrating the success of our diversification strategy. Before I highlight a few notable milestones this quarter, I would like to update you on an important development in our relationship with Samsung. We’re very pleased to report that Qualcomm and Samsung have entered a new multiyear agreement starting in 2023, expanding the use of Snapdragon platforms for future premiums Samsung Galaxy products globally. In the fourth fiscal quarter, we are forecasting revenues of $11 billion to $11.8 billion and non-GAAP EPS of $3 to $3.30.
As with all your investments through Fidelity, you must make your own determination whether an investment is appropriate for you. Fidelity is not recommending or endorsing this security by making it available to customers. You should conduct research and perform a thorough investigation as to the characteristics of any securities you intend to purchase. Cristiano, can you talk about your DotBig position in the mid- to low end? I know you’ve been focused on the premium segment. And the reason I’m asking this question is that — if you look at 5G, even with your guidance for a little bit of a decline here, I think most of the premium market is fully penetrated with 5G. And as we think about the next couple of years, the opportunity seems like it’s mostly in the mid and low end.
Growth & Valuation
We’re really focused on things we can control, but our strategy is working. We are transforming Qualcomm in a company that was communication qcom stock price today for the mobile industry into a connected processor company for the intelligent edge. We’re very excited about the Samsung agreement.
The company’s key patents revolve around CDMA and OFDMA technologies, which are standards in wireless communications that are the backbone of all 3G and 4G networks. The firm is a leader in 5G network technology as well. Qualcomm’s IP is licensed by virtually all wireless https://dotbig.com/markets/stocks/QCOM/ device makers. The firm is also the world’s largest wireless chip vendor, supplying nearly every premier handset maker with leading-edge processors. Qualcomm also sells RF-front end modules into smartphones and chips into automotive and Internet of Things markets.
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