If you didn’t know, there was a chip crisis with semiconductors coming under a crunch to balance the growing gap between chip availability and consumer demand. 2022 is the second year of the semiconductor crunch as the last half of 2020 saw a sharp increase in consumers using electronics (from cars, to phones, to gaming consoles), as stimulus checks came in. Now, companies are scrambling to keep up with demand as resources run short. As a result, supplies are improving, and American semiconductor company Qualcomm Inc (QCOM) is seeing the gains.
Qualcomm announced its revenues for Q1 of 2022, and things look good. Compared to last year, its revenues have increased 30%, equivalent to roughly $10.7b. Earnings per share (EPS) saw a 41% increase to $2.98 and net income soared by 38%, equivalent to $3.4b.
Why it matters
Qualcomm’s CEO Cristiano Amon thanks these wins to the company’s improving chip supply in recovery from the global chips supply crisis as all of its four chip divisions saw an increase in its Q1, though analysts are worried that the semiconductor pipeline is still fragile and can always fall back.
