Qualcomm has rapidly repositioned itself at the forefront of the personal AI and robotics boom by expanding key partnerships and product lines. Its collaboration with Meta on Ray-Ban smart glasses has generated explosive demand, prompting the company to raise annual production targets to between 20 million and 30 million units. Building on this momentum, Qualcomm recently launched its Dragonwing IQ10 Series platform, a suite of AI-optimized chips and software libraries specifically designed for autonomous robotics applications. These developments position Qualcomm as a critical enabler for consumer and industrial robotics, underscored by its ongoing technical alliance with Figure, the humanoid AI startup. Through joint engineering efforts, Qualcomm will supply custom AI accelerators and power-management solutions for Figure’s next-generation robots, marking the company’s most significant push into robotic hardware to date.

Despite strong momentum in non-handset segments—where Qualcomm’s automotive and Internet of Things revenues are growing at double-digit rates—analysts at Mizuho recently downgraded the company’s rating from Outperform to Neutral. The downgrade reflects concerns over potential losses in modem market share, particularly related to future device cycles from Apple, and broader softness in smartphone demand. While the downgrade triggered a near-term pullback in investor sentiment, the stock is showing technical support around key levels near $160, which many chart watchers view as a critical floor. All eyes will be on Qualcomm’s earnings report scheduled for early February, which analysts believe could serve as an inflection point if management can demonstrate sustained growth in higher-margin segments and provide clearer visibility into handset-related revenue trajectories.