Prediction: Qualcomm Could Be on the Verge of a Major Transformation

Impact · against what's priced in

The news is largely a wash for AVGO and MRVL as their custom silicon leadership is already the baseline for their valuations. For QCOM, the risk of a 50% drop in Apple-related revenue is a headwinds, but the December hyperscaler ramp represents a potential catalyst that the market has not yet fully valued.

AAPL−0.40

Challenges what's priced in

The price assumes

Stable iPhone and Services revenue at current growth rates