In today’s briefing:
- Qualcomm Technologies Inc.: New Launches & Other Drivers
- IRDM: On Course for Growth
- Microchip Technology Inc: New Launches & Other Drivers
Qualcomm Technologies Inc.: New Launches & Other Drivers
- Qualcomm has been witnessing various short-term challenges impacting the semiconductor industry which is why its revenues in the last result were below Wall Street expectations.
- In handsets, the recently announced Snapdragon Gen 2 mobile platform of the company in order to create AI-accelerated experiences for smartphones.
- Within IoT, multiple end industries and the handset industry continue to experience weaker demand and elevated inventory levels.
IRDM: On Course for Growth
- IRDM grew the number of Internet of things (“IOT”) users in the fourth quarter to offset the seasonal maritime service decline.
- Much of the attention is on IRDM’s satellite connectivity partnership with Qualcomm (QCOM) expected to begin generating revenue in the second half of 2023
- IRDM reported fourth quarter revenue of $193.8 million compared to our estimate of $176.0 million
Microchip Technology Inc: New Launches & Other Drivers
- Microchip had a solid fourth quarter that surpassed Wall Street expectations in terms of revenues as well as earnings.
- Microchip has also increased the raw materials inventory to protect the internal manufacturing chains.
- In terms of new launches, Microchip launched the MIC69303RT, a 3A Low-Dropout Voltage Regulator in the previous quarter.
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