Qualcomm CEO: Smartphone Market Has Hit Bottom, Data Center Revenue to Reach Billions of Dollars

Qualcomm's CEO announced that the company has reached a low point in the smartphone market and expects to generate billions of dollars in revenue from its data center business in the coming period. The CEO indicated signs of a recovery in mobile device demand, while highlighting the growth potential of AI-focused data center solutions. The company aims to become a major player in the data center market, particularly with processors optimized for AI workloads. The CEO stated that revenue in this area will reach 'billions of dollars', emphasizing Qualcomm's strategy to expand beyond its traditional mobile chip market. Analysts believe that Qualcomm's data center move could add a new dimension to the company's growth story, but note that the competition in this field is intense and success depends on long-term R&D investments. This is not an investment advice.

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The news headline indicates that Qualcomm has seen a bottom in the phone market and expects data center revenues to grow. This can be perceived as a positive signal for the company's growth potential. However, technical indicators are weak: RSI at 39 is near oversold territory, MACD is below the signal line, and the price is below both the 20-day and 50-day moving averages. Therefore, an upward move is possible in the short term, but the confidence level is moderate.

RSI 14

39.0

MACD

-1.54

24h Δ

-0.16%

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