Qualcomm faces risks from customer concentration (Apple, Samsung, Xiaomi), potential customer vertical integration, and U.S./China trade tensions. Supply chain disruptions from limited suppliers, particularly in Asia, are a concern. Legal challenges, including patent disputes and antitrust investigations, pose significant financial risks. Cybersercurity threats and product defects also represent potential downsides. Economic downturns and fluctuating demand for mobile devices are additional risks. Increased interest rates and debt obligations also present a risk.

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Qualcomm's revenues increased 9% in fiscal 2024, driven by handset and automotive sales. Licensing revenues also rose 5%. Investment and other income increased significantly, due to higher interest rates. The company's stock repurchase programs and dividend payments suggest a confidence in future earnings. Growth in automotive and IoT segments, along with continued 5G adoption, offer potential future revenue streams.

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