Qualcomm reported its third-quarter fiscal year 2025 earnings with revenues roughly in line with expectations, driven by strong growth in its automotive and Internet of Things (IoT) segments. The company highlighted record performance in automotive and a 15% growth in non-Apple smartphone business, reflecting increased diversification. Qualcomm also announced plans to expand into the data center market through its Alphawave acquisition and strategic partnerships, aiming to leverage its CPU, NVFusion GPU/XPU, and AlphaWave I/O technologies. Despite these positive developments, Qualcomm's shares declined by approximately 4.5% to 5% in after-hours trading following the earnings release. The stock drop was attributed to weaker growth in the smartphone market, concerns over Apple shifting modem suppliers, and uncertainties related to trade tariffs. Qualcomm remains optimistic about strong sales in the fourth quarter, driven by AI adoption, automotive, and IoT growth, although some questions remain about the data center business expansion.