Is Qualcomm a good buying opportunity or are their best days behind them ?

Here are a few notes from their earnings call :

With smartphone sales stalling, they are diversifying their revenues with automotive and IoT

Meta’s Quest 3 will be powered by Qualcom’s Snapdragon XR platform

Qualcomm seems to be counting a lot on the chinese market

They promise to announce exciting new products at Snapdragon Summit in October

Collaboration with Meta on Llama 2-based AI implementations on flagship smartphones and PCs

Collaboration with Microsoft to bring ‘’best-in-class’’ AI experience to users across multiple Microsoft products

They say their NPU’s ‘’unparalleled AI processing performance and power efficiency will become a requirement’’ .. hinting something will be announced at Snapdragon Summit

They will try to cut some costs in the first part of next year.

The smartphone market is stalling, but the market for brand-new phones is decreasing a lot (more people are buying used phones). They are confident the smartphone industry will rebound.

So … anyone bullish on Qualcomm ? or are they full of ish ?