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Qualcomm Bets on AI and Non-Handset Growth as Apple Revenue Slows Faster

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Qualcomm says revenue tied to Apple products will decline even more rapidly than previously expected, and smartphone weakness may keep weighing on results in the short term. The company also raised its fiscal 2029 long-term non-handset revenue target to $40 billion, supported by automotive and data centers. Wall Street has a QCOM price target near $204.

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