Key insights
- The author questions Qualcomm's recent stock surge, citing weak performance in AI/edge computing compared to Apple's silicon and the potential loss of Apple's modem business. They express skepticism about Qualcomm's future prospects despite the stock's rally, suggesting significant downside risks.
I don't get it in 7 trading days. I've worked with a lot of AI and infra before the AI hype
Wrote about AMD when it was under $2 probably 9+ years ago
in 2021 I thought NVDA might be the most valuable company in the world and to get ARM at ipo. Back in 2021 no one thought NVDA would be the most valuable company in the world (it was before google passed it)
I noticed a strange pattern and no real barrier or reason to why SMCI went from $70 to $1100 a few years ago wrote this before Hidenburg and round tripping was a thing around 2023 when SMCI was $1000
We tried and I personally tried Qualcomm's Snapdragon Elite because I like the benefits of Arm and thought qcom could be a player in edge computing or AI but after using and trying to run even simple apps was a pain. I eventually tried running local AI using Apple M series chips and it blew the snapdragon away.
No company I know uses these snapdragon, I know a lot of people using mac mini. macbook pro/max for AI and AWS arm Gaviton has gained popularity but I've not heard of anyone using QCOM in the datacenter or edge at great scale.
Everyone who's used Apple's modem has had good things to say about, is it possible QCOM loses to apple iphones in the iphone 18
There's so many bear cases for this stock, I haven't made a play on it but there's so many negatives and few positives. Is there something I'm missing?