QCT is screwed because Apple has most of premium (premium is just modem), Mediatek has all of low end (Cristiano missed that transition years ago), and mid-tier will be gone as soon as Mediatek gets to the right cost structure (nobody in China wants QCT chips). QTL is screwed because it does not generate any new patents that can refresh the portfolio (Corporate R&D is a joke). Growth businesses won't come close to filling the revenue/margin holes caused by QCT and QTL every quarter.
The whole year is down the toilet. Continuing to do the same thing next year (essentially we are great, the market is wrong, work hard) and expecting different results is called insanity.