Baird cut its Qualcomm price target to $320 from $400 after the chipmaker's fiscal fourth-quarter report, but kept its Outperform rating. The new target implies 104% upside. Qualcomm shares fell 9.49% to $156.75 on November 5, the day after the report. Handset chip revenue dropped 26% year over year to $5.1 billion as Apple moves to its own modems, and rising costs are squeezing margins. Growth is coming elsewhere. Automotive revenue hit a record $1.99 billion, up 89%, and data center chips are starting to ship to Amazon and a second hyperscaler. Management kept its $5 billion data center target for fiscal 2027. Baird's target implies 35x forward earnings, above Qualcomm's five-year high of 26x. The Street's mean target is $196, and fiscal 2027 earnings estimates are down 17% since September 2025.

Glass Breakwater repair targets long-term climate resilience in Apra Harbor. BY DANIEL M. PEREZ Journal Staff The U.S. Navy's ongoing rehabilitation of the Glass Breakwater in Apra Harbor is utilizing circular economy practices and advanced coastal engineering to reinforce the critical marine infrastructure against severe typhoons and climate change. Details of the three-year project were presented during the fourth day of the Association of Pacific Ports Annual Conference, highlighting a sustainable infrastructure partnership between Black Construction Corp. and coastal engineering firm W.F. Baird & Associates. Constructed over an 80-year period, the breakwater has suffered repeated storm damage followed by fragmented, ad-hoc maintenance, including dolos unit repairs in 1984 and concrete placement in 2013. Those past interventions created an extensive subsea "relic debris field" of displaced material surrounding the main structure. "This timeline shows how the breakwater has been kept functional through decades of patchwork repairs," said Erica Treflik-Body, junior coastal engineer and resident project representative for W.F. Baird & Associates. "Each intervention essentially bought us some time, but the structure now needs a comprehensive repair strategy to unify and strengthen it against Guam's severe wave climate." To stabilize the breakwater, project engineers designed a protective outer layer utilizing interlocking 16-cubic-meter acropod concrete armor units, each weighing approximately 42 tons. Rather than importing all new core material, workers are reshaping existing rocks ranging from four to 30 tons to form a continuous underlayer slope, reducing environmental impacts and construction costs. Treflik-Body shared that decades of scattered debris created a wider physical footprint without delivering true structural durability. "The relic debris field shows that the structure has increased in its size and grown outward, but it's not necessarily stronger, reinforcing the need for this strategic repair," Treflik-Body said. To validate the design, engineers conducted two-dimensional and three-dimensional physical modeling at a one-to-50 scale at the National Research Council facility in Ottawa, Canada. Simulations verified that the engineered acropod arrangement and an excavated foundation toe trench can withstand extreme wave conditions representing more than 100 years of storm exposure. Active construction began in late 2025, with workers casting over 1,000 acropod units to date. A 300-foot test section was completed in May, with field teams relying on a real-time wave forecasting buoy system to maximize safe construction windows during high-swell periods. mbj