Analyst Takeaways: QCOM Earnings, DRAM Pressure, and Snapdragon Growth

Qualcomm (QCOM) shares fell to $140.18 after the quarter, down from $148.89, despite exceeding non-GAAP profit guidance and meeting revenue expectations. Management cited strong Snapdragon adoption in premium phones, automotive and industrial IoT, and PCs, but warned DRAM shortages late in the quarter are tempering handset production. Analysts will closely watch three areas: normalization of DRAM supply and its impact on handset output, the growth and design wins in automotive and industrial IoT, and the commercial adoption of Snapdragon in PCs and AI devices. Robotics expansion and data center roadmaps are also key to assess diversification execution.