QCOM & SWKS’s 2Q IoT biz further improved: solid consumer, industrial recovery, limited auto rebound Jul 2025

QCOM’s and SWKS’s IoT biz are likely to exceed their 2Q expectations, driven by continued demand recovery in industrials & from China (the largest IoT market) & robust consumer IoT (a larger portion of QCOM & SWKS’s IoT biz than industrial IoT & others)…