QUALCOMM, Inc. (NASDAQ: QCOM – $64.19) reported adjusted earnings per share for the third quarter of $0.99, better than the analyst consensus of $0.95 per share on revenue of $5.83 billion, about in line with expectations of $5.85 billion. For the final quarter of 2015, the company expects revenue of $4.7 to $5.7 billion, below expectations of $6.12 billion and earnings are targeted at $0.75 to $0.95, vs. the Street view of $1.08 per share. For the full year, the chipmaker expects revenue of $24.5 to $25.5 billion, below the consensus of $25.9 billion and per share earnings at $4.50 to $4.70, vs. analysts’ expectations of $4.79. The company also announced a Strategic Realignment Plan designed to improve execution, enhance financial performance and drive profitable growth as it says it will work to create sustainable long-term value for stockholders. As part of this, QCOM will be implementing a cost reduction plan to reduce annual costs from fiscal 2015 levels of $7.3 billion by about $1.4 billion through a series of targeted reductions including annual share-based compensation grants, which it says will not jeopardize its growth objectives or core technology road map. It expects these cost initiatives to be fully implemented by the end of fiscal 2016 and include reductions of up to 15% of its workforce. Also, the company has not ruled out that it may split into two, separating its chip business from its technology licensing arm. The shares may interest long-term aggressive investors. QUALCOMM should benefit from emerging market demand even with increased competition and most negatives seem to be reflected in the current price.