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Qualcomm Profit Falls As Memory Costs And Weak Handsets Hit AI Chip Pivot
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The company has been trying to convince investors that it is no longer just a smartphone chip supplier.
Qualcomm wants to be in that conversation, especially as AI moves from cloud servers into phones, PCs, vehicles and enterprise hardware.
For Qualcomm, the quarter is a reminder that diversification is no longer a nice investor presentation line.
But until automotive, IoT and data centre revenue can carry more of the load, every soft smartphone quarter will keep raising the same question.
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