$QCOM: Great work by @StreetSignal__ on bogeys: JPM Tech Spec: "most investors think this is a management that sets aggressive targets, so many expect an aggressively bullish tone – and quite a number say they expect to be shorting after the smoke clears from the event. Most folks I’ve spoken with expect either an update of the guide through F29, or discussion through C30 (though some did correctly underscore that they already informally guided F31 revenue during their investor day two years ago) and bulls sound like something at the higher end of $10~15b would be viewed positively. Bears seem very skeptical about the complexion and size of new order wins, with questions about who ASIC customers will be (particularly given a seeming lack of AI networking expertise, and SerDes that are viewed as lower-tier); more constructive investors are just looking at the TAM and assuming that as it disaggregates, and QCOM naturally wins some orders. Interestingly, a number of folks said they found some comfort in just how skeptical folks sound in conversations, suggesting expectations are not high."