's (NASDAQ: QCOM) recent financials offer further proof that the smartphone and other consumer electronics markets are finally making a comeback after getting through a tough 2022 marred by excess inventory. That comeback comes just as the industrial chip market (which includes chips for electric vehicles (EVs)) is now entering a similar period of decline. After several years of chip shortages, there are now too many industrial chips in inventory in the global supply chain.

Thankfully, Qualcomm's small automotive segment is bucking the trend, completely passing up the pedestrian-looking results from leading automotive chip designers Nvidia (NASDAQ: NVDA) and Mobileye (NASDAQ: MBLY) (which is still majority-owned by Intel (NASDAQ: INTC)).

Is it time to get excited about Qualcomm's auto chip business?

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Source Fool.com