Forget the Apple phase-out. Analyst Patrick Moorhead says Qualcomm's "rocking" auto growth and new data center tech will rival NVIDIA.
Qualcomm's automotive jumped 61% YoY to $1.6B; launched HBC, a differentiated data center architecture versus NVIDIA. $40B non-handset revenue target by 2029 reduces Apple risk, positioning Qualcomm as enterprise AI infrastructure alternative for IT leaders.
Despite market anxiety over an accelerating Apple Inc.
(NASDAQ:AAPL) phase-out, tech analyst Patrick Moorhead believes Qualcomm Inc.
(NASDAQ:QCOM) is executing a crucial transition, anchored by a "rocking" automotive sector and unique data center technology that is "different: from what Nvidia Corp.
(NASDAQ:NVDA) is doing.
Automotive Surge and Data Center Ambitions During its third quarter, central to the bullish case was Qualcomm’s expanding non-handset portfolio.
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