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Qualcomm (QCOM) said December will no longer be its biggest quarter as Apple (AAPL) exits as a modem customer, a loss the company has anticipated for years. The CFO’s comments signal a shift in the company’s seasonal revenue calendar, with automotive and AI data center businesses positioned to offset the Apple gap. The next earnings report will test whether those segments can fill the shortfall.
Qualcomm Says December Will No Longer Be Its Biggest Quarter as Apple Exits
Qualcomm has known for years that Apple would leave as a modem customer, and now the company’s CFO says that departure will rewrite the company’s revenue calendar. According to a report from 247wallst.com, December will no longer be Qualcomm’s biggest quarter.
A Long-Anticipated Loss
The loss of Apple as a customer was not a surprise. The report notes that Qualcomm has anticipated Apple’s exit for years. The CFO’s comments now signal a shift in the company’s seasonal revenue calendar as a result.
Offsetting Segments in Focus
Qualcomm’s automotive and AI data center businesses are positioned to offset the gap left by Apple, according to the report. Whether those segments can fill the shortfall is the central question heading into the company’s next earnings report, which the report describes as a test of that story.
What to Watch
- The next earnings report will test whether automotive and AI data centers can fill the Apple shortfall.
- The CFO’s comments indicate a change in Qualcomm’s seasonal revenue pattern, with December no longer the company’s biggest quarter.