“Based on the midpoint of our fourth quarter guidance, we’re expecting fiscal ‘22 to be an exceptional year. We expect non-GAAP EPS of $12.55, a growth of $4 for fiscal ‘21.”

In context

“nt, this implies year-over-year revenue growth of 27% and EBT dollar growth of 31%. On a sequential basis, we expect growth across QCT handset and automotive revenue streams. In handsets, while Snapdragon premium tier volume remains resilient, our guidance assumes lower demand in other tiers, reflecting the updated global handset forecast. In IoT, we are seeing strength across industrial and enterprise, which is offset by pockets of weakness in consumer products. We anticipate non-GAAP operating expenses to be up 6% to 8% sequentially, with approximately half of the growth due to the inclusion of 2 quarters of expenses for the Arriver acquisition. As a reminder, our third quarter results did not include Arriver since we are reporting one quarter in arrears until the fourth fiscal quarter. Based on the midpoint of our fourth quarter guidance, we’re expecting fiscal ‘22 to be an exceptional year. We expect non-GAAP EPS of $12.55, a growth of $4 for fiscal ‘21. We are forecasting QCT revenues of greater than $37 billion, a year-over-year growth of greater than $10 billion and EBT margin expansion of approximately 5 points. QCT handset revenues are on track to grow slightly below 50% relative to fiscal ‘21, driven by increased processor content and expansion of our addressable market. With our continued focus on diversification, we are forecasting RF front-end, IoT and automotive combined revenues of greater than $12 billion in fiscal ‘22. Lastly, we are pleased to announce we signed a long-term extension of our license agreement with Samsung through 2030 at the same royalty terms. With this agreement, the QTL forecast that we provided at Investor Day remains unchanged. In closing, while we are mindful of the current environment, our long-term fu”