I do have a horse in this race, but even if I didn&#x27;t I would say this:<p>Does Qualcomm, a company which has laid off ~20% of its workforce with even more jumping ship, 48% year over year revenue decline (as well as 44% profit decline, even after layoffs), increasingly difficult time differentiating itself from its competitors (who are in key areas starting to do better than them), really think they are going to be able to quadruple their total earnings in purely through new markets? All in under 4 years? Do they not realize that both their existing market as well the magic &quot;IoT&quot; market that they think will save them has even lower margins and more competition then the market they are in now.<p>Or since this was an investors meeting, shall we assume Occam&#x27;s razor and are they just trying to prop up their stock that has dropped to half its value (and still trending downwards) in the midst of internal turmoil and losing marketshare.