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Fortune
Fortune
Sheryl Estrada

Qualcomm's CFO says M&A will help power its diversification strategy

Akash Palkhiwala (Credit: Courtesy of Qualcomm)

Good morning. Qualcomm has long been a giant in building chips for mobile phones, known as Snapdragon processors. The Fortune 500 company is taking that chip technology and applying it to other industries that are going through an inflection point, according to Qualcomm’s CFO and COO Akash Palkhiwala. 

Qualcomm anticipates a total addressable market of approximately $900 billion by 2030, according to Palkhiwala, who said the company is pursuing a diversification strategy that goes beyond mobile into automotive, personal computing (including PCs), industrial devices, and extended reality (XR) industries. “We’re building new muscles,” Palkhiwala told me.

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