Qualcomm (QCOM) Says Automotive Design-Win Pipeline Expands to $30 Billion
- Wall St posts third straight quarterly loss as inflation weighs, recession looms
- Intel's Autonomous Unit Mobileye Files U.S. IPO, Defying Weak Market Conditions
- Nike (NKE) Drops 9% as Inventory Surges 44%, Analysts See Attractive Valuation
- Hollywood Super Agent Attempts to Open Door for Twitter-Musk Settlement - Bloomberg
- Dollar up on euro as quarter ends, commodity led currencies sink
News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.
Qualcomm Incorporated (NASDAQ: QCOM) announced at its inaugural Automotive Investor Day that the Company's automotive design-win pipeline has grown to $30 billion1, driven by increased adoption of its Snapdragon® Digital Chassis™ solutions across the auto industry. The increase represents a greater than $10 billion expansion since the Company's fiscal third quarter results were announced. Specifically, the expanded pipeline is a result of significant design wins with automakers and Tier-1 suppliers as Qualcomm Technologies, Inc. becomes the automotive industry's partner of choice for next-generation vehicles.
"Qualcomm is a leader in essential technologies for the Connected Intelligent Edge," said Cristiano Amon, President and CEO of Qualcomm Incorporated. "Our One Technology Roadmap scales across virtually every industry, including automotive. The Snapdragon Digital Chassis, combined with our relationships with automakers, has resulted in a $30 billion design-win pipeline. We are winning the digital future of automotive."
At Automotive Investor Day, Qualcomm provided several key updates:
- Estimated Automotive TAM expansion to $100 billion by 2030
- Automotive design-win pipeline of $30 billion
- Strong QCT Automotive revenue growth from $975 million in FY21 to ~$1.3 billion in FY22e
- Increased QCT Automotive revenue growth forecast since November 2021 to greater than $4 billion in FY26e and greater than $9 billion in FY31e
- Introduced the industry's first integrated automotive super-compute class System-on-Chip, the Snapdragon Ride™ Flex SoC
Qualcomm Technologies and Mercedes-Benz also announced a collaboration to power upcoming Mercedes vehicles with Snapdragon Digital Chassis solutions.
Qualcomm is a leader in the automotive space and its Snapdragon Digital Chassis is the only open, scalable and upgradeable platform for next-generation vehicles.
A replay of the event, presentations and other assets from the Qualcomm Automotive Investor Day can be found on our website.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- IONQ Inc (IONQ) Secures Contract to Provide Quantum Solutions to United States Air Force Research Lab
- Walt Disney (DIS) Appoints Carolyn Everson to Its Board
- BiondVax Pharma (BVXV) announces financial plans to support its ongoing NanoAb pipeline development
Create E-mail Alert Related CategoriesCorporate News
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!