Qualcomm Expects $4 Billion in PC Chip Sales by 2029

Qualcomm has stated that it expects to generate an additional $22 billion in revenue by 2029 by entering new markets. During its investor day, Qualcomm mentioned that approximately $4 billion of this amount would come from PC chips. The chipmaker introduced PC processors earlier this year when it launched Snapdragon X for Windows devices. This latest forecast marks a significant milestone for Qualcomm CEO Cristiano Amon, who took over the company with the promise of moving beyond reliance on smartphones in 2021. In fiscal year 2024, Qualcomm's device business reported sales of $24.86 billion, which accounts for about 75% of its total chip business. Qualcomm also stated that automotive revenues are expected to rise by approximately 175% to reach $8 billion by 2029, with 80% of this already committed through secured contracts. Amon stated during the investor event, "We are progressing in this trajectory by realizing that the technologies we have developed over many years could be highly relevant to a range of different sectors beyond mobile."