Qualcomm, known for its semiconductors and licensing, faces challenges with declining Apple business and a slowdown in the smartphone industry. Apple isn’t the only one turning away from Qualcomm silicon. Chinese smartphone maker Huawei currently uses Qualcomm’s 4G chips in all its high-end phones. But it will soon switch to 5G, turning to China-made chips because of export controls on U.S. companies providing advanced tech to China. The company is diversifying into automotive tech, IoT, PCs, and AI. Qualcomm's Snapdragon Digital Chassis is used in cars and demonstrates hands-free assistance. They are also targeting virtual and augmented reality headsets and aim to enter the competitive PC CPU market with Arm-based processors by 2024. Their focus on on-device AI, partnering with companies like Microsoft and Meta, could be a significant opportunity, but success depends on monetizing advanced AI capabilities and demand in various applications.