A：In fiscal Q4, Qualcomm delivered revenues of $11.3 billion and non-GAAP earnings per share of $3.00, both of which were at the high end of the guidance range. QCT revenues were $9.8 billion, up 9% sequentially, driven by strong customer demand for premium tier Android handsets, automotive applications, and strength in Internet of Things (IoT) segments. Non-GAAP revenues for the year were $44 billion, up 13% year over year.

A：The highlights from the Snapdragon Summit include the introduction of the Snapdragon 8 Elite Gen 5 mobile platform for next-generation flagship AI smartphones. This platform features the third-generation Kryo CPU, an upgraded NPU, and CPU with the Snapdragon Edge. The summit also featured keynotes with over 26 million unique views, participation from more than 100 partners, analysts, tech influencers, and press, and the unveiling of the newest platform for premium laptops, the Snapdragon X 2 Elite and X 2 Elite Extreme, demonstrating industry leading processors and performance.

A：The AI transformation is impacting intelligent wearables by evolving smart glasses into personal AI devices that can connect users directly to an AI agent or model. This category is growing rapidly, fueled by strong demand for smart glasses from Meta, which introduced several new styles. The leadership in this space is reflected in the 30 designs in production or development with global partners, including Samsung and Google, showcasing the growth potential and innovation in this sector.

A：The expanded partnership announced at IAA Mobility between Qualcomm and Google includes the integration of Google Gemini models into Qualcomm's suite of Snapdragon Digital Chassis solutions. This partnership aims to enable automakers to build and deploy personalized AI agents for in-vehicle assistance, thereby bringing multimodal edge-to-cloud AI to next-generation software-defined vehicles and industrial IoT applications.

A：The anticipated growth trend for AI data centers is moving from training to dedicated inference workloads.

A：The financial results for the fourth fiscal quarter were strong non GAAP performance with revenues of $11.3 billion and EPS of $3, revenues of $1.4 billion and EBT margin of 72% in QTL, QCT revenues of $9.8 billion and EBT of $2.9 billion with year over year growth of 13% and 17% respectively, and QCT EB margin of 29% at the high end of guidance.

A：The forecasted non GAAP tax rate is in the 13% to 14% range going forward. The new tax legislation resulted in a non-cash charge of $5.7 billion in the 4th fiscal quarter to reduce the value of their deferred tax assets, impacting GAAP results but excluded from non GAAP metrics.

A：The performance in fiscal 25 was impressive with non GAAP revenues of $V billion and EPS of $E dollars representing year over year growth of 13% and 18% respectively. QCT achieved 16% year over year revenue growth, and delivered QCT operating margins in line with the long-term target. Over the past five years, non-GAAP QCT revenues grew at a 15% compounded annual growth rate.

A：The guidance for the first fiscal quarter is revenues in the range of $11.8 to $12.6 billion and non GAAP EPS of $3.30 cents to $3.50 cents in QTL, revenues of $1.4 to $1.6 billion and EBITDA margins of 74% to 78% in QCT, and record revenues of $10.3 to $10.9 billion with EBT margins of 30% to 32% in QCT.

A：The progress towards the 22 billion fiscal 29 revenue target is on track with a 36% year over year revenue growth in automotive and a 22% year over year revenue growth in industrial sectors. The increasing importance of artificial intelligence and high-performance computing validates the trajectory towards achieving the 14 billion revenue target in industrial areas.

A：The details on the hyperscale engagement mentioned are that it is distinct from the Humane engagement and any timing details on this engagement were not provided in the transcript.

A：The anticipated outcome is to generate the most amount of tokens with the least amount of power, which is the company's right to play.

A：The company is developing AI solutions in a disciplined manner, starting with early experimentation with AI 100 to develop software, moving to AI 200 and AI 250, both the SOC and the system-on-chip solutions. They are pleased with the progress and will provide more details early next year.

A：The company's strategy is to focus on execution and to show products performing well in the market. They are excited about the new chapter of expansion and are engaging with many companies in the market.

A：The company sees momentum in the Android space driving growth in the fourth quarter. The lead Android customer is potentially looking to use an internal modem more, but visibility into the company's share is limited. The company expects premium spending to drive upside in the handsets market.

A：The company's relationship with Samsung has historically had a financial assumption of a 75% share, which is expected to be the baseline. This is always the financial assumption for new Galaxy models, and occasionally they can achieve more than 75%.

A：The company expects data center products to start contributing to revenue in fiscal year 28, potentially pulling in earlier into fiscal script. Data center revenue is expected to become material in fiscal script.

A：The company is receiving interest from companies needing to deploy significant compute for inference in the data center, especially given power and computer density constraints.

A：The company is not guiding beyond the first quarter and does not provide specific guidance on share changes with the primary Android customer for upcoming quarters. However, they note strong business momentum and expect the benefits to continue from the December quarter onwards.

A：The sequential revenue growth forecast for the QCT handset revenue stream in the December quarter is approximately low teens, and it is primarily driven by Android, with some benefit from Apple.

A：We actually don't have an update now. Discussions are still underway, and really nothing substantive to say beyond that.

A：The non-apple QCT revenue growth is attributed to two primary drivers: a shift in the mix of units towards higher-value products and the ongoing growth within the premium tier content as more capable chips are delivered.

A：The strength of the Snapdragon in September and December is not just in China. Most major Chinese customers have already launched devices and the initial reception to these devices has been very positive. Global customers are expected to launch devices later in the quarter and into early next year, reflecting normal purchase patterns around device launches and positive consumer reaction.

A：The different architecture mentioned in the press release signifies a new approach by Qualcomm, focused on creating the highest possible compute density at the lowest cost in energy consumption. This is a departure from traditional GPU and HBM configurations and represents an advanced development within the company.

A：The growth in handsets has been driven by strong demand for more capable chips, leading to higher ASPs. The industry is expected to absorb these higher ASPs as there is a long-term trend of demand for advanced chips. There is also a multi-year trend of consumers purchasing more capable devices, which contributes to the growth.

A：The outperformance in the December quarter guidance compared to market expectations is expected to come from various segments, including IoT, autos, and handsets. The performance is due to factors such as a positive shift in the mix towards more premium devices and strong demand.