2024
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 QCOM: Poised to reap the benefits of modem supply extension it granted Apple. (May 2, 2024)
QCOM: In-line quarter with surprisingly little discussion of RF wins at Apple. (February 1, 2024)
QCOM: RFFE content on iPhone 16 likely the cost to extend modem supply agreement. (January 30, 2024)
2023
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QCOM: Recovery in handsets doesn’t change the long-term calculus. (November 2, 2023)
QCOM: Implications of Apple modem agreement on QCT and RF semi suppliers. (September 11, 2023)
SWKS, QCOM, QRVO: Apple: Modem delays and a shift to cost reduction for future RF front-ends. (September 8, 2023)
QCOM: Are more large layoffs inevitable? (August 28, 2023)
QCOM: Fundamentals deteriorating although Apple extension could spark QCOM. (August 3, 2023)
QCOM: Is Qualcomm about to get paid? (June 27, 2023)
QCOM: The end of millimeter wave is at hand. (June 21, 2023)
QCOM: Macro and handset slowdowns hitting Qualcomm from all angles. (May 4, 2023)
QCOM: Revenue may rebound in 2HCY23 but margins aren’t likely to follow. (February 3, 2023)
AVGO, QCOM, QRVO, SWKS: Apple is still not getting into RF module design. (January 12, 2023)
2022
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QCOM, QRVO, SWKS, ERIC, NOK: Disappointment with 5G causing more ebbs than flows in the supply chain. (December 13, 2022)
QCOM: Inventory burns could last well into CY23 if macro environment weakens further. (November 3, 2022)
QCOM: Leading edge of recession impacting mid-tier phones now, premium models later. (July 28, 2022)
QCOM: Handsets driving results but highly dependent on economy (and China). (April 28, 2022)
QCOM: Stellar growth in Handsets at odds with long-term strategy. (February 3, 2022)
QCOM: Semi stocks warrant caution in 2022. (January 25, 2022)
2021
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QCOM: Preemptively shifting focus from Apple to Android and non-Mobile applications. (November 4, 2021)
AAPL, QCOM: mmWave not expanding to other geographies and even the U.S. will eventually drop it.(September 15, 2021)
AAPL, QRVO, SWKS, AVGO, QCOM: Necromancing LEOs. (August 30, 2021)
QCOM: Bid for Veoneer necessary to maintain control of automotive software. (August 5, 2021)
QCOM: Foundry capacity shortage and mmW enabled iPhone bode well for 2H21. (July 29, 2021)
QCOM: Shortages prove a boon to margins and royalties. (April 29, 2021)
QCOM: Ripple effects of CMOS shortages on handset RF. (March 19, 2021)
QCOM: Strong top line but margins can’t keep up. (February 4, 2021)
QCOM: QCOM and the big Apple. (January 19, 2021)
QCOM: Puzzling time to retire with QCOM at all-time highs. (January 5, 2021)
2020
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QCOM: Highly unlikely Qualcomm won the low-band module in iPhone 13. (December 9, 2020)
QCOM: We’d like to see an RF revenue recount. (November 5, 2020)
QCOM: Surprises from our teardown of the iPhone 12. (November 2, 2020)
QCOM: iPhone 12 teardown shows Qualcomm mmWave in U.S. model. (October 26, 2020)
QCOM: iPhone 12 RF content estimates likely too low. (October 26, 2020)
QCOM: mmWave gives RF360 its moment in the sun. (October 6, 2020)
QCOM: The 5G iPhone mmWave dilemma. (September 8, 2020)
QCOM: Enjoying the glory days of 5G. (July 30, 2020)
QCOM: 5G Content in Phones. (June 23, 2020)
QCOM: What the bulls don't understand about Qualcomm's RF story. (June 17, 2020)
QCOM: Who pays the piper for mmWave? (June 16, 2020)
QCOM: No cutting out U.S. RF module suppliers, not even in China. (June 4, 2020)
QCOM: Feedback didn't save RF360 at Google. (May 14, 2020)
QCOM: Samsung uses Qualcomm mmWave now but working with Qorvo on a GaAs solution. (May 12, 2020)
QCOM: Pulling out all the stops to offset COVID but not a lot of strength once pandemic passes. (April 30, 2020)
QCOM: Is Qualcomm giving up on 4G RF? (March 12, 2020)
QCOM: WSJ treatise on India's boom is missing the dark side of solar. (March 4, 2020)
QCOM: Arrives at the high-performance SAW filter party four years late. (February 20, 2020)
QCOM: Coronavirus: Large and pervasive negative impact on demand. Maintain Market Perform. (February 18, 2020)
QCOM: Solid results but guidance isn't pretty and where's the RF and Apply royalty revenue? Maintain Market Perform. (February 6, 2020)
2019
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QCOM: Analyst projections aren't likely to translate to results. Maintain Market Perform. (November 19, 2019)
QCOM: Initial 5G launch favors Qualcomm but not in RF and not for long. Maintain Market Perform. (November 7, 2019)
QCOM: Apple’s angst on mmWave. (September 6, 2019)
QCOM: A hole in the fence of Qualcomm’s reservation. (September 4, 2019)
QCOM: A messy quarter in what will be a difficult 12 months. Maintain Market Perform. (August 1, 2019)
QCOM: Over-charging for 5G modems has consequences. (June 20, 2019)
QCOM: Live by the Pixel, die by the Pixel. (June 11, 2019)
QCOM: Qualcomm hears crickets. (May 31, 2019)
QCOM: Apple settlement & FTC win point to materially lower royalty rates. Maintain Market Perform. (May 23, 2019)
QCOM: Impact of Huawei ban on phones, base stations and semiconductors. Maintain Market Perform. (May 22, 2019)
QCOM: Guidance suggests big concession to Apple and no uplift from 5G. Maintain Market Perform. (May 2, 2019)
QCOM: The ripple effect of the Apple-Qualcomm settlement. Maintain Market Perform. (April 30, 2019)
QCOM: Euphoria over Apple settlement may be short lived but it’s not good news for Qorvo. Maintain Market Perform. (April 17, 2019)
QCOM: Apple’s settlement good news for Qualcomm’s ASIC, bad for licensing. Maintain Market Perform. (April 16, 2019)
QCOM: QCOM RF360: Can you thrive when your customers work against you? (April 16, 2019)
QCOM: Handicapping the AAPL, INTC, QCOM 5G baseband debate. Maintain Market Perform. (April 8, 2019)
QCOM: The 5G Fairy Tale. Maintain Market Perform. (March 27, 2019)
QCOM: QCOM’s RF360 miss on GS10 imperils FY19 guidance. (February 28, 2019)
QCOM: Broadcom has all but skunked Qualcomm in 802.11ax. (February 12, 2019)
QCOM: Pulling out all the stops to stem further declines. Maintain Market Perform. (January 31, 2019)
QCOM: Qualcomm's Summer of Discontent. Maintain Market Perform. (January 30, 2019)
QCOM: Duplicating the mistakes of its FY19 forecast? Maintain Market Perform. (January 16, 2019)
2018
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QCOM: 5G enables handheld crouton ovens. (December 10, 2018)
QCOM: Hoisted on its own petard. Maintain Market Perform. (December 4, 2018)
QCOM: One record-bad call. Downgrade from Buy. (November 8, 2018)
QCOM: Qualcomm's campaign to put a man on Mars. (October 12, 2018)
QCOM: RF Semiconductors: What's ailing wireless? Maintain Buy. (September 19, 2018)
QCOM: Bull case on Qualcomm's 5G RF is far off the mark. Maintain Buy. (August 8, 2018)
QCOM: Fundamentals eclipsed by plans for massive repurchases in FY19. Upgrade to Buy. (July 25, 2018)
QCOM: Another step down in QTL and greater competition in QCT imminent. Maintain Market Perform. (April 26, 2018)
QCOM: Target prices for QCOM if the Broadcom deal falls through. Maintain Market Perform. (March 5, 2018)
QCOM: Qualcomm vs. Broadcom: Checkers or Chess? Maintain Market Perform. (February 13, 2018)
QCOM: Neither 5G nor RF will cure Qualcomm’s growth problem. Maintain Market Perform. (February 1, 2018)
QCOM: Points of interest on RF. Maintain Market Perform. (January 16, 2018)
2017
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QCOM: Likely scenarios for Broadcom’s acquisition of Qualcomm. Maintain Market Perform. (November 05, 2017)
QCOM: Don’t expect licensing problems to clear before modem share issues arise in 2018. Maintain Market Perform. (November 02, 2017)
QCOM: Big changes afoot in RF semiconductors. Maintain Market Perform. (August 15, 2017)
QCOM: Price erosion in RF semiconductors – an exaggerated threat. Maintain Market Perform.
(August 15, 2017)
QCOM: Blended royalty rate likely to take another big hit. Maintain Market Perform. (July 19, 2017)
QCOM: Battle with Apple could get worse for everyone. Maintain Market Perform. (May 1, 2017)
QCOM: Series of short-term boosts aren’t enough to offset drag of Apple. Maintain Market Perform. (April 20, 2017)
QCOM: Stock isn’t likely to rally until NXP closes. Maintain Market Perform. (January 26, 2017)
QCOM: Little chance Apple suit will end well or be the last such attack. Downgrade to Market Perform. (January 24, 2017)
2016
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QCOM: 2017 may start slow but it should end strong. Reiterate BUY. (November 3, 2016)
QCOM: Short-term trends in royalties and ASICs bode well for 2H16. Upgrade to BUY. (July 20, 2016)
QCOM: Share loss at Apple may be modest, but economics in modems continue to decline. Maintain Market Perform. (April 20, 2016)
QCOM: Is the bear case overdone? Maintain Market Perform. (April 14, 2016)
QCOM: Cost cuts stabilize results but aren’t likely to solve long-term growth problems. Maintain Market Perform. (January 28, 2016)
QCOM: Qualcomm/TDK Joint Venture: Doubling down on a dead end. Maintain Market Perform. (January 21, 2016)
2015
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QCOM: Org structure is optimal, but business model will continue to lose traction. Maintain Market Perform. (December 15, 2015)
QCOM: Pressure on revenue and margins until at least mid-2016. Maintain Market Perform. (November 4, 2015)
QCOM: Near-term prospects look weak, long-term probably worse. Maintain Market Perform. (November 3, 2015)
QCOM: Costs and valuation are likely to decline near-term. Maintain Market Perform. (September 15, 2015)
QCOM: With no escape to the next standard, reorganization is inevitable. Upgrade to Market Perform. (July 23, 2015)
QCOM: Several negative catalysts remain to play out. Maintain Market Underperform. (April 23, 2015)
QCOM: Expect the decline in blended royalty rates to accelerate. Maintain Market Underperform. (February 9, 2015)
QCOM: Will purchasing a filter manufacturer change the outcome for RF360? Downgrade to Market Underperform. (February 4, 2015)
QCOM: As we expected, 2015 will be weak. Maintain Market Perform. (January 28, 2015)
2014
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QCOM: Headwinds notwithstanding, company’s focus remains on growth. Takeaways from Qualcomm's Analyst Day. Maintain Market Perform. (November 19, 2014) QCOM: Can Qualcomm be saved? Maintain Market Perform. (November 18, 2014)
QCOM: Paying the price of its monopoly in LTE; 2015 is stacking up to be a difficult year. Maintain Market Perform. (November 05, 2014) QCOM: Chinese troubles aren’t likely to be short-lived. Maintain Market Perform. (July 23, 2014) QCOM: Preview Report. Maintain Market Perform. (July 21, 2014) QCOM: Black Sand acquisition: good for QCOM, no threat to RF Semi manufacturers. Maintain Market Perform. (June 26, 2014) QCOM: Likely losing share to Intel on the 2015 iPhone. Maintain Market Perform. (June 16, 2014) QCOM: Is RF360 costing Qualcomm share in baseband? Maintain Market Perform. (May 23, 2014) QCOM: Expect a rebound next quarter followed by more aggressive competition in 1QCY15. Maintain Market Perform. (April 24, 2014) QCOM: Preview Report. Maintain Market Perform. (April 17, 2014) QCOM: Apple is highly unlikely to field its own modem. Maintain Market Perform. (April 8, 2014) QCOM: Slowing demand at high-end, more competition at low-end. Maintain Market Perform. (January 29, 2014) QCOM: Preview: QCOM is approaching full valuation. Maintain Market Perform. (January 28, 2014)
2013
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QCOM: Searching for new channels of growth. Maintain Market Perform. (November 21, 2013) QCOM: Increased competition in 3G now and 4G in ’14 will pressure growth. Maintain Market Perform. (November 6, 2013) QCOM: Preview: Cautiously optimistic about September's report. Maintain Market Perform. (November 5, 2013) QCOM: How the RF semiconductor suppliers will outperform their handset customers. (October 4, 2013) QCOM: Understanding Disparities in the Food Chain’s Guidance for iPhone 5S. Maintain Market Perform. (July 27, 2013) QCOM: Sustaining growth and leadership is getting expensive. Maintain Market Perform. (July 24, 2013) QCOM: Preview: Expectations are low heading into June report. Maintain Market Perform. (July 23, 2013) QCOM: Competition and content dilution undercutting leverage faster-than-expected. Downgrade to Market Perform. (April 24, 2013) QCOM: Preview: Share gains could bolster volumes while mix favors chip ASP. Maintain BUY rating. (April 23, 2013) QCOM: An update on the baseband wars and the bull/bear case for Qualcomm. Maintain BUY rating. (April 1, 2013) QCOM: RFMD and SWKS are the big winners on the Galaxy S4. Maintain BUY rating. (March 19, 2013) QCOM: QCOM’s plunge into the RF front-end isn't what it seems. Maintain BUY rating. (February 21, 2013) QCOM: March guidance looks conservative in the face of current trends. Maintain BUY rating. (January 30, 2013) QCOM: Preview: Expect ASIC upside to drive the stock to high $60s. Maintain BUY rating. (January 29, 2013)
2012
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QCOM: How much better will it be in March? Maintain BUY rating. (November 7, 2012) QCOM: Preview: Growth is largely reflected in the stock. Downgrade to BUY. (November 6, 2012) QCOM: Deferred gratification: Leap in chip units and margins expected next quarter. Maintain Strong BUY. (July 18, 2012) QCOM: Preview: Expect upside guidance into iPhone 5 launch. Maintain Strong BUY. (July 16, 2012) QCOM: Supply constraints only shift demand to 2H12. Maintain Strong BUY. (April 18, 2012) QCOM: Preview: Riding the wave of rapid mobile growth. Maintain Strong BUY. (April 16, 2012) QCOM: Benefiting from three major industry trends and little competition. Maintain Strong BUY. (February 1, 2012) QCOM: Preview: Share gains and strong demand should propel stock into 2012. Maintain Strong BUY. (January 30, 2012)
2011
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QCOM: Pulling ahead of the pack with an extensive global reach and strong product cycle. Maintain Strong BUY. (November 16, 2011) QCOM: Benefiting from big trend in handsets and tablets as competition wanes. Maintain Strong BUY. (November 2, 2011) QCOM: Preview: Core product strength and secular trends favor 2012 expansion. Maintain Strong BUY. (October 31, 2011) QCOM: FY EPS continues march to $4.00 even on weaker Sept. chip guidance. Maintain Strong BUY. (July 21, 2011) QCOM: VIA Telecom LTE wins will have little or no impact. Upgrade to Strong BUY. (July 18, 2011) QCOM: Raising estimates on increasingly optimistic outlook for growth in 2H11. Maintain BUY rating. (July 11, 2011) QCOM: 2011 starts strong but will likely end stronger. Maintain BUY rating. (April 21, 2011) QCOM: Preview: Good growth prospects once past the disruption in Japan. Maintain BUY rating. (April 19, 2011) QCOM: Near-term bump but long-term surge. Maintain BUY rating. (March 28, 2011) QCOM: Big upside with more gains ahead in 1H11. Maintain BUY rating. (January 27, 2011) QCOM: Preview: Continued strong growth should drive QCOM higher. Maintain BUY rating. (January 21, 2011)
2010
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QCOM: Positive trends continue. Maintain BUY rating. (November 17, 2010) QCOM: Glut of design wins in ’09 mean several big quarters ahead. Maintain BUY rating. (November 4, 2010) QCOM: Strong quarter with more of the same into 1H'11. Maintain BUY rating. (October 8, 2010) QCOM: Expect ASIC rebound to accelerate in 2HCY10 on Snapdragon and iPhone. Maintain BUY rating. (July 21, 2010) QCOM: Preview: In-line to weak quarter will likely give way to improved performance in 2H10. Maintain BUY rating. (July 16, 2010) QCOM: Share shifts at Verizon could hurt MOT near term. Maintain BUY rating. (May 19, 2010) QCOM: Near-term bottom will give way to improved 2H10. Maintain BUY rating. (April 21, 2010) QCOM: Preview: Cyclical concerns are still too soon. Maintain BUY rating. (April 8, 2010) QCOM: Three reasons to stay bullish. Maintain BUY rating. (March 25, 2010) QCOM: Outlook improves on aggressive cost controls and ASIC outlook. Upgrade to BUY rating. (February 16, 2010) QCOM: Lower prices for chips and handsets to pressure top line through 1H'10. (January 27, 2010) QCOM: Preview: Pushing into Mobile to grab greater share of BoM. (January 12, 2010)
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