Investors once believed that Qualcomm Inc.’s fortunes rose and fell with Apple Inc.’s iPhone, which uses a key “modem” chip from Qualcomm to connect to mobile data networks, Reuters reports. However, as Qualcomm prepares for an investor presentation on Nov. 16, analysts said a looming loss of Apple, which is working on its chips to replace Qualcomm’s, might not matter much to Qualcomm’s profits. Qualcomm will outline plans to land its chips in everything from virtual reality headsets to self-driving cars to telecommunications gear. The change comes from a diversification strategy by Cristiano Amon, who ran the company’s chip division before becoming CEO in 2021, Bernstein analyst noted. Earlier this month, Qualcomm saw a growth of over 20 percent in adjusted earnings for FY22 above the consensus of 12.5 percent. “Anything beyond our contract with (Apple) is an upside to our model,” Amon said. “They have a large number of …