And to that end, the 34-year-old company already appears to have some wind in its sails. Revenues were down 17% year over year during the company's fiscal year fourth quarter, but it beat Wall Street's expectations and sent company stock up 7%. The company is hinging its future performance on 5G, and highlighted areas of momentum that it expects to fuel growth. CEO Steve Mollenkopf told analysts that the company is actively working with standards bodies to define forthcoming advancements in 5G and positioning itself to support the expansion of 5G into enterprise, industrial IoT, and automotive markets. "The complexity and expansion of cellular technologies beyond the smartphone into nearly every industry play directly to Qualcomm's strengths and are why we believe 5G will represent the single biggest opportunity in Qualcomm's history," he said during an earnings call, according to a Seeking Alpha transcript.