Qualcomm ve 3. fiskálním čtvrtletí meziročně zvýšil tržby z automobilového segmentu o 61 % a očekává první tržby ze dvou zakázek od hyperscalerů ve čtvrtletí končícím v prosinci.
Wall Street still treats Qualcomm like a struggling handset maker, but a string of quiet wins in automotive, data centers, and hyperscaler silicon suggests the market has badly mispriced what this company is becoming.
The 24/7 Wall St. price target for Qualcomm (NASDAQ:QCOM | QCOM Price Prediction) is $218.99. That means 24.7% upside from the current $175.66. Our model rates the stock a buy with high confidence.
24/7 Wall St. Price Target Summary Metric Value Current Price $175.66 24/7 Wall St. Price Target $218.99 Upside/Downside 24.7% Recommendation BUY Confidence Level 90% The market still prices Qualcomm like a handset supplier in a down cycle, even as its AI business builds in the background.
In fiscal Q3, automotive revenue rose 61% year over year. Two hyperscaler custom silicon wins start producing revenue in the December quarter, and management now targets $40B in non-handset revenue by fiscal 2029.
On our forward EPS estimate of $9.8028, shares trade at about 18x. That multiple gives Qualcomm little credit for the shift.
Handset Slump Masks a 61% Automotive Surge Qualcomm is up 0.71% over the past week, down 1.16% over the past month, and up 4.32% year to date. Shares sit 31.8% below the 52-week high of $257.56 and 45.3% above the low of $120.88.
Fiscal Q3 revenue of $9.95B beat the $9.67B estimate. Non-GAAP EPS came in at $2.21, just missing expectations of $2.22. Handsets fell 20%, while IoT grew 9%.
Since that report, Qualcomm has announced a multi-generational AI data center collaboration with Amazon (NASDAQ:AMZN), renewed its global patent license with Apple (NASDAQ:AAPL), and won a trial verdict on October 13. CNBC reported Qualcomm plans performance-focused job cuts worldwide.
Why Bulls See $238 and Beyond Our bull case reaches $238.29. Data center is the main swing factor. Management projects $5 billion in data center revenue in fiscal 2027 and $15 billion by fiscal 2029. HBC Gen 1 has completed tape-out, and the first solution is targeted for mid-2027.
In automotive, Qualcomm expects an annualized run rate of about $7 billion ending fiscal 2026. It also won BMW’s lead compute role for ADAS and digital cockpit.
CEO Cristiano Amon expects non-handset growth to accelerate “from 24% in fiscal 2026 to greater than 60% in fiscal 2027.” Among Wall Street analysts, 2 rate the stock a strong buy and 9 rate it a buy.
Apple Step-Down and Memory Costs Could Cap Gains The bear case stands at $185.93. The CFO expects Apple product revenue to fall about 50% from the September quarter to the December quarter.
He also put the EPS hit from Android weakness at greater than $1.50. Higher memory and wafer costs helped drive operating income down 41.13%, and early custom-chip revenue could reduce QCT gross margin by one and a half to 2%.
Analysts reflect the caution: 23 rate the stock a hold. There are offsets. Management is pushing through double-digit price increases to restore margins, and the stock still offers a 6.92% free cash flow yield.
Qualcomm Trades Like Broadcom Without Broadcom’s Growth Yet Broadcom (NASDAQ:AVGO) leads the hyperscaler custom ASIC market Qualcomm is now entering. It trades at nearly the same forward multiple while growing quarterly revenue 85.5%.
NVIDIA (NASDAQ:NVDA) is the benchmark for AI inference, and its forward multiple stands at a clear premium.
On consensus numbers, Qualcomm already trades near Broadcom’s multiple, so the comparison works only if data center revenue grows as planned. If it does, the peer group makes our target look reasonable and potentially conservative.
Company Forward P/E Quarterly Revenue Growth YoY Qualcomm 20x -4% Broadcom 19x 85.5% NVIDIA 25x 105.9% December Quarter Data Center Revenue Tips the Scale The 24/7 Wall St. price target of $218.99 carries a buy rating at 90% confidence. I’d find the upside compelling if hyperscaler revenue shows up on schedule and the price increases lift margins.
I’d be more conservative if the Apple decline exceeds non-handset growth in fiscal 2027. For now, the data center growth is the key variable to monitor.
Looking further out, here is where our model projects Qualcomm could trade, assuming current growth trends and market conditions hold.
Year 24/7 Wall St. Price Target 2026 $182.69 2027 $218.99 2028 $259.18 2029 $283.19 2030 $316.37 The projections depend on Qualcomm continuing to execute its diversification plan. Results could land well above or below them depending on how quickly the data center business grows and how handset demand holds up.
Contact [email protected] for any questions or corrections.
, /PRNewswire/ -- Qualcomm Incorporated (NASDAQ: QCOM) today announced a quarterly cash dividend of $0.92 per common share, payable on December 17, 2026, to stockholders of record at the close of business on December 3, 2026.
About Qualcomm
Qualcomm is a global computing leader at the center of the AI era, enabling intelligence to scale from the most personal devices to large‑scale infrastructure. Building on more than four decades of innovation, we develop platforms and solutions that bring together advanced AI, high‑performance, low-power computing and industry‑leading connectivity—powering products and services used around the world. At Qualcomm, we are engineering human progress.
Qualcomm Incorporated includes our licensing business, QTL, and the vast majority of our patent portfolio. Qualcomm Technologies, Inc., a subsidiary of Qualcomm Incorporated, operates, along with its subsidiaries, substantially all of our engineering and research and development functions and substantially all of our products and services businesses, including our QCT semiconductor business. Snapdragon and Qualcomm branded products are products of Qualcomm Technologies, Inc. and/or its subsidiaries. Qualcomm patents are licensed by Qualcomm Incorporated. Qualcomm, Snapdragon, Qualcomm Dragonwing and Qualcomm Dragonfly are trademarks or registered trademarks of Qualcomm Incorporated. For more information, visit www.qualcomm.com.
Diversify Advisory Services LLC raised its holdings in shares of Qualcomm Incorporated (NASDAQ:QCOM – Free Report) by 20.4% during the third quarter, according to its most recent filing with the SEC. The firm owned 90,259 shares of the wireless technology company’s stock after purchasing an additional 15,287 shares during the period. Diversify Advisory Services LLC’s holdings in Qualcomm were worth $16,102,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Petredis Investment Advisors LLC boosted its position in Qualcomm by 1.4% during the 3rd quarter. Petredis Investment Advisors LLC now owns 15,296 shares of the wireless technology company’s stock valued at $2,815,000 after acquiring an additional 209 shares in the last quarter. Rare Wolf Capital LLC raised its position in shares of Qualcomm by 14.2% in the 3rd quarter. Rare Wolf Capital LLC now owns 2,409 shares of the wireless technology company’s stock worth $443,000 after acquiring an additional 300 shares in the last quarter. AMI Asset Management Corp raised its position in shares of Qualcomm by 0.8% in the 3rd quarter. AMI Asset Management Corp now owns 8,051 shares of the wireless technology company’s stock worth $1,482,000 after acquiring an additional 64 shares in the last quarter. Robinson Value Management Ltd. lifted its stake in shares of Qualcomm by 40.5% during the 3rd quarter. Robinson Value Management Ltd. now owns 34,184 shares of the wireless technology company’s stock worth $6,291,000 after purchasing an additional 9,858 shares during the last quarter. Finally, DUTCH ASSET Corp lifted its stake in shares of Qualcomm by 8.8% during the 3rd quarter. DUTCH ASSET Corp now owns 2,467 shares of the wireless technology company’s stock worth $454,000 after purchasing an additional 199 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.
Insider Buying and Selling at Qualcomm In other news, EVP Ann Chaplin sold 1,827 shares of the stock in a transaction dated Friday, October 16th. The stock was sold at an average price of $174.75, for a total value of $319,268.25. Following the transaction, the executive vice president directly owned 25,770 shares of the company’s stock, valued at approximately $4,503,307.50. This represents a 6.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Cristiano Amon sold 10,000 shares of the firm’s stock in a transaction dated Friday, September 25th. The stock was sold at an average price of $200.00, for a total value of $2,000,000.00. Following the completion of the transaction, the chief executive officer owned 177,568 shares of the company’s stock, valued at approximately $35,513,600. The trade was a 5.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 33,458 shares of company stock worth $6,198,144. 0.05% of the stock is owned by corporate insiders.
More Qualcomm News Here are the key news stories impacting Qualcomm this week: Positive Sentiment: TD Cowen raised its price target to $200 from $175 and upgraded Qualcomm to “Buy,” implying meaningful upside from recent trading levels and signaling greater confidence in the company’s valuation and outlook. Positive Sentiment: Qualcomm’s planned acquisition of PickNik Robotics could strengthen its physical-AI strategy. The deal may expand the Dragonwing platform, improve Qualcomm’s position in industrial robotics and create longer-term growth opportunities beyond smartphones. Can Qualcomm’s PickNik Acquisition Strengthen Its Robotics Edge? Positive Sentiment: Reported global job cuts may improve efficiency and margins as CEO Cristiano Amon emphasizes performance and operating discipline. Investors may view the restructuring as a way to control expenses and redirect resources toward higher-growth businesses. Qualcomm to Cut Jobs Worldwide in Performance-Focused Layoffs Neutral Sentiment: Qualcomm recently closed at $176.31 and outperformed the broader market during the session, reflecting favorable near-term sentiment, although this move was not tied to a new earnings release. Neutral Sentiment: Qualcomm rejected reports concerning Snapdragon overheating tied to the Galaxy S27 Ultra. The response may limit reputational and customer-retention concerns, but the issue could remain a product-risk overhang if additional evidence emerges. Qualcomm Pushes Back on Snapdragon Overheating Reports Negative Sentiment: Global layoffs also highlight pressure to improve performance. Potential disruption, severance expenses and uncertainty about the scale and timing of the cuts could weigh on employee morale and execution. Qualcomm Reportedly to Cut Jobs Globally Following Performance Reviews Negative Sentiment: Recent ETF selling and sustained insider selling add technical and sentiment risks. Qualcomm insiders reportedly recorded open-market sales without purchases over the past six months, while ETFs were net sellers on October 15. Qualcomm Price Performance NASDAQ QCOM opened at $175.71 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.02 and a quick ratio of 1.28. The stock’s fifty day moving average price is $175.51 and its 200 day moving average price is $180.35. Qualcomm Incorporated has a 1 year low of $121.99 and a 1 year high of $259.92. The company has a market cap of $187.63 billion, a price-to-earnings ratio of 19.63, a PEG ratio of 3.91 and a beta of 1.65.
Qualcomm (NASDAQ:QCOM – Get Free Report) last issued its earnings results on Wednesday, July 29th. The wireless technology company reported $2.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.23 by ($0.02). Qualcomm had a return on equity of 38.36% and a net margin of 21.01%. The firm had revenue of $9.95 billion during the quarter, compared to analysts’ expectations of $9.69 billion. During the same quarter last year, the business earned $2.77 EPS. The business’s revenue was down 4.0% on a year-over-year basis. Qualcomm has set its Q4 2026 guidance at 2.050-2.250 EPS. As a group, equities research analysts forecast that Qualcomm Incorporated will post 7.74 earnings per share for the current year.
Wall Street Analysts Forecast Growth A number of equities research analysts recently weighed in on the company. Robert W. Baird set a $400.00 price objective on Qualcomm in a research report on Thursday, July 30th. The Goldman Sachs Group set a $160.00 price target on shares of Qualcomm in a research report on Thursday, July 30th. DZ Bank upgraded shares of Qualcomm from a “hold” rating to a “buy” rating and set a $265.00 price target on the stock in a report on Friday, June 26th. Morgan Stanley cut their price objective on shares of Qualcomm from $231.00 to $220.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 30th. Finally, Zacks Research downgraded shares of Qualcomm from a “hold” rating to a “strong sell” rating in a research report on Tuesday, September 15th. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, twenty-one have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Qualcomm has an average rating of “Hold” and a consensus price target of $204.97.
Check Out Our Latest Stock Analysis on QCOM
Qualcomm Profile (Free Report)
Qualcomm Incorporated is a technology company that develops and commercializes wireless communications and semiconductor technologies. Through Qualcomm Technologies, Inc, the company designs integrated circuits, system software and related platforms used in smartphones, personal computers, automobiles, industrial equipment, consumer devices and other connected products. Its Snapdragon platforms support mobile computing, connectivity, artificial intelligence and multimedia applications, while its broader portfolio includes radio-frequency systems, networking and edge-computing technologies.
Qualcomm also operates a significant technology-licensing business through its Qualcomm Technology Licensing segment.
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Qualcomm plánuje koupit PickNik Robotics, aby integroval platformu MoveIt do platforem Dragonwing a posílil svou pozici v robotice a fyzické umělé inteligenci.
Key Takeaways QCOM's proposed PickNik acquisition boosts its robotics software capabilities through the MoveIt framework.Integration with Dragonwing and Arduino platforms could accelerate robotics development and adoption.Expanding physical AI opportunities aid diversification, although competition and execution risks persist. Qualcomm Incorporated (QCOM - Free Report) is strengthening its position in the rapidly evolving robotics market through its proposed acquisition of PickNik Robotics, a developer of advanced robotics software. The transaction aligns with Qualcomm's strategy to expand its footprint in physical artificial intelligence (AI), edge computing and intelligent robotics.
PickNik is recognized for its stewardship of MoveIt, a widely adopted open-source robotics manipulation framework built on the Robot Operating System (ROS). The platform supports motion planning, manipulation and robotic control across industrial automation, service robotics and emerging physical AI applications. The transaction, subject to customary closing conditions, could strengthen Qualcomm's ability to offer integrated hardware and software solutions.
Transaction RationaleThe buyout is expected to enhance Qualcomm's Dragonwing Robotics platforms by integrating MoveIt and PickNik's commercial MoveIt Pro software. This combination could enable developers to leverage Qualcomm's AI processing, connectivity and heterogeneous computing capabilities alongside advanced motion planning and real-time robotic control.
The integration is also expected to extend to Arduino platforms, beginning with VENTUNO Q boards. This could make advanced robotics development more accessible to a broader developer community while accelerating the transition from prototypes to commercial deployments.
Importantly, Qualcomm intends to maintain MoveIt as an open-source framework supporting third-party hardware. This approach could encourage wider ecosystem participation and strengthen developer engagement, potentially boosting adoption of its Dragonwing platforms.
Physical AI Opportunities Support Long-Term DiversificationThe planned acquisition complements Qualcomm's broader efforts to diversify beyond smartphones into automotive, industrial IoT and edge AI markets. Its March 2026 collaboration with NEURA Robotics to advance cognitive robotics and humanoid applications further underscores its growing focus on physical AI.
Combining PickNik's software expertise with Qualcomm's power-efficient computing capabilities could improve its competitive positioning as demand for intelligent automation increases across industrial and commercial applications.
However, the acquisition's financial terms remain undisclosed, limiting visibility into its immediate earnings contribution. Integration challenges, competition in robotics computing and uncertain commercialization timelines could also constrain near-term benefits. Stiff competition from NVIDIA Corporation (NVDA - Free Report) , Broadcom Inc. (AVGO - Free Report) and Advanced Micro Devices, Inc. (AMD - Free Report) further strains its margins.
Nevertheless, PickNik's established developer ecosystem and robotics software capabilities could help Qualcomm expand its addressable market and deepen customer engagement. Successful integration may strengthen QCOM's position in next-generation robotics while supporting its long-term diversification strategy.
Qualcomm (QCOM.O) will cut jobs globally in a "performance-focused reduction" following its annual employee reviews, CEO Cristiano Amon told staff in a memo on Monday reviewed by Reuters, with notifications set to begin in November.
The cuts are part of an effort to build "a stronger performance culture" and address situations where the company "has consistently fallen short of expectations," Amon said.
The memo did not say how many jobs would be affected, and Reuters could not immediately determine the scale of the cuts.
Qualcomm did not immediately respond to a request for comment. It had about 52,000 employees globally as of September last year, most of them full-time. Its financial year typically ends in late September.
One of the world's biggest smartphone chipmakers, Qualcomm has been hit this year by a slump in consumer electronics sales as soaring memory prices weigh on demand in key markets.
Its shares have risen just 1.5% in 2026, compared with gains of more than 12% for the benchmark S&P 500 (.SPX) and nearly 60% for the Philadelphia Semiconductor Index (.SOX).
In its latest earnings report in late July, Qualcomm forecast quarterly profit below estimates and said revenue from Apple products would decline faster than expected, while signaling that growth in data-center and other non-handset businesses would more than offset the lost revenue by fiscal 2027.
The company expects the majority of its chip sales to come from businesses other than smartphones in fiscal 2027 as it expands into the fast-growing AI data-center market.
Amon said in the memo business priorities, organizational needs, skills and expertise would be considered in making the cuts.
"As we have expanded the business, so have the competencies and skills we require," he wrote. "We must have the right people in the right roles so they can perform at their best and the company can continue to succeed."
Qualcomm Incorporated (NASDAQ:QCOM – Get Free Report) EVP Ann Chaplin sold 1,827 shares of the stock in a transaction dated Friday, October 16th. The stock was sold at an average price of $174.75, for a total transaction of $319,268.25. Following the sale, the executive vice president owned 25,770 shares in the company, valued at approximately $4,503,307.50. This trade represents a 6.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Qualcomm Stock Performance Shares of NASDAQ QCOM opened at $172.11 on Monday. The company has a quick ratio of 1.28, a current ratio of 2.02 and a debt-to-equity ratio of 0.46. The firm’s 50-day moving average price is $175.02 and its two-hundred day moving average price is $179.70. Qualcomm Incorporated has a 52-week low of $121.99 and a 52-week high of $259.92. The stock has a market capitalization of $183.79 billion, a P/E ratio of 19.92, a P/E/G ratio of 3.88 and a beta of 1.65.
Qualcomm (NASDAQ:QCOM – Get Free Report) last issued its earnings results on Wednesday, July 29th. The wireless technology company reported $2.21 EPS for the quarter, missing analysts’ consensus estimates of $2.23 by ($0.02). The company had revenue of $9.95 billion during the quarter, compared to analyst estimates of $9.69 billion. Qualcomm had a net margin of 21.01% and a return on equity of 38.36%. The business’s revenue was down 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.77 earnings per share. Qualcomm has set its Q4 2026 guidance at 2.050-2.250 EPS. As a group, sell-side analysts forecast that Qualcomm Incorporated will post 7.74 earnings per share for the current year.
Analyst Upgrades and Downgrades A number of research analysts recently commented on the company. DZ Bank upgraded Qualcomm from a “hold” rating to a “buy” rating and set a $265.00 price objective for the company in a research note on Friday, June 26th. Mizuho raised their target price on Qualcomm from $170.00 to $210.00 and gave the company a “neutral” rating in a research note on Monday, June 29th. Barclays reiterated an “underweight” rating on shares of Qualcomm in a research note on Wednesday, September 9th. Dbs Bank raised shares of Qualcomm to a “moderate buy” rating in a report on Tuesday, July 7th. Finally, Bank of America upped their price target on shares of Qualcomm from $165.00 to $195.00 and gave the stock an “underperform” rating in a research report on Tuesday, June 23rd. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, twenty-one have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Qualcomm presently has a consensus rating of “Hold” and a consensus target price of $204.10. View Our Latest Stock Analysis on QCOM
Key Qualcomm News Here are the key news stories impacting Qualcomm this week:
Positive Sentiment: Qualcomm appears to have prevailed in its licensing dispute with Arm. A Delaware jury found that Arm breached its license agreement with Qualcomm, supporting Qualcomm’s position in a dispute that could have affected the company’s ability to use Arm-based designs. The verdict is a potential legal and strategic win, although further proceedings may still be required. Jury finds Arm breached license agreement with Qualcomm Positive Sentiment: A renewed Apple licensing agreement improves revenue visibility. Qualcomm’s continued licensing relationship with Apple helps support its high-margin patent-licensing business, even as Apple works to develop more of its own modem technology. Qualcomm renews Apple license Positive Sentiment: Qualcomm expanded its 5G licensing coverage with Transsion through 2031. The extended agreement provides longer-term royalty visibility in emerging smartphone markets. Qualcomm, Transsion Extend 5G Patent License Deal Positive Sentiment: The company launched an AI-native Wi-Fi 8 gateway. The product combines next-generation connectivity with edge AI computing, supporting Qualcomm’s strategy to diversify beyond smartphones into home broadband and AI-enabled devices. Qualcomm unveils AI-native Wi-Fi 8 gateway Neutral Sentiment: Analysts continue to view Qualcomm as a cash-generative wireless technology company with growth opportunities in automotive, AI and other markets, but investors remain focused on the pace of its transition away from handset dependence. Qualcomm: Navigating the shift from handsets to AI Negative Sentiment: Sector-wide chip selling is pressuring QCOM. Qualcomm’s legal win has not prevented broader weakness across semiconductor stocks, with investors reducing exposure to chipmakers. Chip selloff following Qualcomm verdict Negative Sentiment: Reports that Samsung could replace Qualcomm’s chip in the Galaxy S27 Ultra if thermal issues persist raise concerns about flagship handset share and Qualcomm’s near-term mobile revenue. Samsung may swap Galaxy S27 Ultra chip Negative Sentiment: MediaTek’s reported progress toward an AI data-center chip pact with ByteDance highlights increasing competition in Qualcomm’s effort to build an AI and data-center business. ByteDance and MediaTek AI chip pact Hedge Funds Weigh In On Qualcomm Hedge funds and other institutional investors have recently made changes to their positions in the business. Your Advocates Ltd. LLP bought a new position in Qualcomm in the 1st quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Qualcomm by 17,000.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 171 shares of the wireless technology company’s stock worth $29,000 after buying an additional 170 shares during the last quarter. ABS Investment Management LLC bought a new stake in shares of Qualcomm in the second quarter valued at approximately $34,000. ABS Direct Equity Fund LLC bought a new stake in shares of Qualcomm in the second quarter valued at approximately $34,000. Finally, Burk Holdings LLC grew its stake in shares of Qualcomm by 191.7% in the second quarter. Burk Holdings LLC now owns 210 shares of the wireless technology company’s stock worth $39,000 after acquiring an additional 138 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.
Qualcomm Company Profile (Get Free Report)
Qualcomm Incorporated is a technology company that develops and commercializes wireless communications and semiconductor technologies. Through Qualcomm Technologies, Inc, the company designs integrated circuits, system software and related platforms used in smartphones, personal computers, automobiles, industrial equipment, consumer devices and other connected products. Its Snapdragon platforms support mobile computing, connectivity, artificial intelligence and multimedia applications, while its broader portfolio includes radio-frequency systems, networking and edge-computing technologies.
Qualcomm also operates a significant technology-licensing business through its Qualcomm Technology Licensing segment.
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Qualcomm očekává první tržby z datových center ve čtvrtletí končícím v prosinci; ty mají prověřit strategii transformace prostřednictvím AI při 20% meziročním poklesu tržeb z mobilních telefonů na 5,09 mld. USD.
Qualcomm is betting its future on AI and data center chips while its smartphone business bleeds, and the December quarter will prove whether that bet pays off or exposes a company caught between two worlds.
Qualcomm (NASDAQ:QCOM | QCOM Price Prediction) trades at $176.86. Qualcomm has transformed itself from a smartphone chip supplier into an AI and data center company in a single investor cycle, and the market is still deciding whether to pay for that change.
Qualcomm sells Snapdragon processors through its QCT segment and licenses wireless patents through QTL. Its fiscal third quarter showed both sides of the business. Handset revenue fell 20% YoY to $5.09B, while automotive revenue rose 61% to $1.59B. Non-GAAP EPS of $2.21 came in just below the $2.22 estimate, which ended a six-quarter beat run. The stock trades 31% below its 52-week high of $257.56.
AI Pivot Doubles Qualcomm’s Non-Handset Target
Management raised its fiscal 2029 non-handset revenue target to $40 billion from $22 billion. That figure includes more than $15 billion in data center revenue. Two custom silicon projects with global-scale hyperscalers start producing revenue in the December quarter, and purchase orders are already in place. Non-handset growth is expected to speed up from 24% in FY2026 to above 60% in FY2027.
Automotive has posted 23 consecutive quarters of double-digit growth, and BMW has named Qualcomm its lead compute supplier. Even so, the stock trades at a forward P/E of about 20, with a PEG ratio of 0.88 and a free cash flow yield near 6.79%.
Shrinking Handset Sales and Rising Costs Weigh on Qualcomm
The turn toward AI is costing a lot up front. Operating income fell 41.13% YoY as Qualcomm paid for the Modular and Alphawave acquisitions and its data center roadmap. Custom-chip revenue will also lower QCT gross margin by 1.5% to 2%. Meanwhile, the core business keeps shrinking. Qualcomm’s chips will appear in a much smaller share of new iPhones, and revenue from Apple (NASDAQ:AAPL) is expected to fall about 50% from the September quarter to the December quarter. Weakness in Android is expected to reduce EPS by more than $1.50.
Chief executive Cristiano Amon acknowledged the doubt directly: “investors want to see more proof points that we can successfully execute on our plans as a new entrant.”
Price Increases and December Data Center Revenue Will Decide the Next Move
Qualcomm is raising prices by double-digit percentages to offset higher memory, wafer and packaging costs. Management expects QCT gross margin to return to 48% to 50% as those increases take effect. Revenue from Chinese handset makers bottomed in the June quarter. Big funds are split: 6 tracked filers added shares, 4 cut and 2 sold out entirely.
Most Analysts Rate It Hold, With a $194 Average Target
The average analyst target of $194.13 implies about 9.8% upside. Analyst targets are estimates and can change. Here is how the 37 analysts covering the stock rate it:
Qualcomm is up 5.03% year to date, compared with 14.1% for the S&P 500. Over one year, Qualcomm gained 11.62% while the index rose 17.35%.
December Data Center Revenue Is Qualcomm’s Key Test
At $176.86, Qualcomm’s outlook depends on execution.
The current price already reflects a lot of handset weakness, but Qualcomm has not yet shown it can earn money in AI. The first test is the December quarter, when hyperscaler revenue should start to come in. Management expects revenue to rise slightly from the prior quarter in that period, even with Apple revenue falling. All of that data center expansion has to be powered, cooled, and networked by somebody, and we rounded up seven suppliers riding the same wave in a free AI infrastructure report.
A stronger outlook would need two things: QCT margins returning to the 48% to 50% range, and data center revenue tracking toward the $5 billion fiscal 2027 goal. Android staying weak beyond the price increases or a slip in the custom silicon ramp would weaken the outlook. The 2.05% dividend yield provides income in the meantime.
The December quarter will show whether Qualcomm’s AI plan produces revenue.
Contact [email protected] for any questions or corrections.
Qualcomm rozvíjí 6G, včetně technologie Giga-MIMO a řešení řízených umělou inteligencí, a na výzkumu spolupracuje s T-Mobile, Nokií, Samsungem, Googlem a Ericssonem.
Key Takeaways Qualcomm is developing 6G technologies, including next-generation antennas and AI-based network solutions.Its Giga-MIMO boosts network capacity and spectrum efficiency, while 6G prototypes integrate sensing.QCOM partners with T-Mobile, Nokia, Samsung, Google and Ericsson to advance 6G research and commercialization. Qualcomm Incorporated (QCOM - Free Report) is strengthening its position in the telecommunications industry as technology companies prepare for the transition to sixth-generation (6G) wireless networks. The company is leveraging its technical expertise in modem design, wireless connectivity and artificial intelligence (AI) to develop advanced communication technologies.
Qualcomm is advancing its 6G research through next-generation antenna systems and AI-based network solutions. Its Giga-MIMO technology is designed to improve network capacity and spectrum efficiency. The company has demonstrated 6G prototypes that combine advanced radio systems with integrated sensing and communication, enabling networks to detect and track objects while transmitting data. In addition, its Dragonwing RAN Automation Suite uses AI-driven automation to help telecom operators improve network performance and operational efficiency.
The company is collaborating with telecom operators such as T-Mobile to develop and test emerging 6G technologies. It is also participating in a broader industry coalition involving companies such as Nokia, Samsung, Google and Ericsson to advance wireless research and prepare for future commercialization.
Qualcomm’s investments in wireless research and industry partnerships could create opportunities across connected devices and network infrastructure. Its wireless technology expertise could benefit from growing demand for faster and more efficient connectivity.
How Are Competitors Advancing in 6G Technology?Qualcomm faces competition from Nokia Corporation (NOK - Free Report) and Broadcom, Inc. (AVGO - Free Report) . Nokia is advancing its 6G development through AI-powered network technologies and industry partnerships. The company is working with NVIDIA to develop AI-based radio access networks that could support future 6G services. Nokia is investing in network automation and advanced wireless systems to improve performance and prepare for next-generation connectivity.
Broadcom is expanding its role in next-generation wireless infrastructure through its radio-frequency and semiconductor technologies. Its radio chip technology supports advanced 5G and future 6G networks by improving power efficiency and signal processing. Broadcom's work in custom silicon and high-speed connectivity could also support the growing demands of future wireless networks.
QCOM’s Price Performance, Valuation and EstimatesQualcomm shares have gained 8.5% over the past year compared with the industry’s growth of 28.8%.
Image Source: Zacks Investment Research
Going by the price/earnings ratio, the company's shares currently trade at 17.37 forward earnings, higher than 13.3 for the industry.
Image Source: Zacks Investment Research
Earnings estimates for fiscal 2026 have declined 0.2% to $10.55 over the past 60 days, while those for fiscal 2027 have also decreased 0.9% to $10.02.
Qualcomm se obchoduje za 26násobek očekávaného zisku oproti 15násobku u společnosti Nvidia a 22násobku u společnosti Broadcom, přestože analytici očekávají pomalejší růst tržeb.
Qualcomm (QCOM -0.29%) isn't often mentioned in the same breath as AI leaders like Nvidia (NVDA -0.52%) and Broadcom (AVGO +0.39%). It's one of the world's largest mobile chipmakers. Still, its AI-oriented chips haven't attracted nearly as much attention as Nvidia's data center GPUs or Broadcom's custom AI accelerators for hyperscalers.
Qualcomm's stock has still risen 40% over the past five years, but shares of Nvidia and Broadcom have rallied about 1,000% and 630%, respectively. However, Qualcomm still doesn't look cheap relative to those AI leaders for three simple reasons.
Image source: Getty Images.
1. Its AI strategy has limited growth potential Qualcomm's main AI strategy is to add edge AI (on-device processing) features to its existing chips. The latest versions of its Snapdragon chips -- which power mobile devices, wearables, vehicles, and PCs -- process AI tasks locally instead of relying on cloud-based services.
These edge AI chips are innovative, but they primarily target budget-constrained consumer device manufacturers, which ultimately limits their pricing power and the total addressable market. By comparison, Nvidia and Broadcom produce AI chips for hyperscalers, which are spending hundreds of billions of dollars to expand their cloud-based AI infrastructure.
Qualcomm is trying to expand into the data center market with its Cloud AI 100 and next-gen AI accelerators for inference tasks, but it could struggle to stand out in that crowded market.
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2. It's growing at a much slower rate than its AI peers From fiscal 2025 (which ended last September) to fiscal 2028, analysts expect Qualcomm's revenue and EPS to grow at CAGRs of 6% and 27%, respectively. That growth trajectory is healthy, but it pales in comparison to its hyperscaler-driven AI peers.
From fiscal 2026 (which ended this January) to fiscal 2029, analysts expect Nvidia's revenue and EPS to both grow at CAGRs of 61%. From fiscal 2025 (which ended last November) to fiscal 2028, they expect Broadcom's revenue and EPS to grow at CAGRs of 62% and 80%, respectively. We should take those estimates with a grain of salt, but they indicate that Qualcomm's focus on edge AI chips will limit its long-term growth.
3. It's still more expensive than Nvidia and Broadcom Qualcomm underperformed Nvidia and Broadcom by a wide margin over the past few years, but it's still fundamentally more expensive relative to its future earnings.
As of this writing, Qualcomm trades at 26 times next year's earnings, while Nvidia and Broadcom trade at 15 and 22 times next year's earnings, respectively. Most investors will look at those multiples and buy Nvidia and Broadcom instead of Qualcomm -- and that trend will likely continue unless Qualcomm makes more progress in the data center market.
Leo Sun has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Broadcom, Nvidia, and Qualcomm. The Motley Fool has a disclosure policy.
Qualcomm ve třetím fiskálním čtvrtletí končícím 28. června meziročně snížil tržby o 4 % na 9,9 mld. USD, ale díky víceletému partnerství s Amazonem rozšiřuje podnikání v oblasti AI.
As the race for faster, more efficient chips accelerates, should you prioritize the machinery that builds them or the processors that power them? Choosing between ASML Holding N.V. (ASML +0.60%) and Qualcomm (QCOM -0.29%) is a key decision for investors.
ASML provides the critical lithography equipment necessary for manufacturing advanced chips, while Qualcomm designs the wireless and AI-driven processors used in smartphones and data centers. These two industry titans offer different ways to benefit from the ongoing global demand for high-performance computing.
The case for ASML Holding N.V.ASML operates as the sole provider of extreme ultraviolet lithography machines, which are required to print the tiny circuits found in the most powerful AI chips available from semiconductor companies today. The enterprise sells these massive, multi-million-dollar systems to the world's leading chip manufacturers. Because it is the only company capable of producing this specific technology, ASML occupies a vital and virtually untouchable position in the global electronics supply chain.
Financial performance remains robust as chipmakers upgrade their facilities for the next generation of artificial intelligence hardware. In its 2025 fiscal year (FY), revenue reached $36.6 billion, representing a 15.6% increase over the $31.6 billion reported in the previous year. This growth helped the company generate $10.8 billion in net income, up from $8.5 billion in FY 2024, demonstrating its ability to expand profits alongside sales.
As of its December 2025 balance sheet, the company maintains a conservative capital structure with a debt-to-equity ratio of 0.1x. This ratio, which measures total debt against shareholder equity, suggests the company is not overly reliant on borrowed money. The current ratio, a measure of the ability to pay short-term debts with current assets, sits at 1.3x, while free cash flow reached $12.4 billion. Free cash flow represents cash flow from operations minus capital expenditures.
The case for QUALCOMMQualcomm is the world leader in mobile system-on-a-chip designs and wireless connectivity, but it is rapidly expanding into new high-growth markets. While it counts Apple (AAPL -1.11%) and Xiaomi (XIACF +11.16%) among its major handset customers, it recently moved into the data center space. In September of 2026, the company entered a multi-year partnership with Amazon (AMZN +3.29%) to provide custom artificial intelligence chips and optical networking solutions for cloud infrastructure.
Revenue growth remains steady even as the company navigates a shift in its product mix. In FY 2025, revenue reached $44.3 billion, a 13.7% increase compared to the $39.0 billion earned in the prior year. However, net income fell to $5.5 billion from $10.1 billion in FY 2024, resulting in a net margin of 12.5%. This decrease in net margin, which is the percentage of revenue kept as profit, was influenced by higher research spending and shifting product costs.
As of its September 2025 balance sheet, Qualcomm shows strong liquidity with a current ratio of 2.8x. Its debt-to-equity ratio is 0.8x, indicating a higher level of leverage than its peer but still within a manageable range for its industry. The company generated $12.8 billion in free cash flow during FY 2025, providing ample capital for dividends and reinvestment into its business, which includes automotive and Internet of Things segments.
Risk profile comparisonASML faces significant risks regarding geopolitical tensions and international trade restrictions. Because its lithography machines are considered a matter of national security, the company is subject to export controls that limit its ability to sell to certain regions. Furthermore, its business is highly concentrated among a few massive customers, meaning any delays in their factory expansions could lead to significant order cancellations for ASML equipment.
Qualcomm is vulnerable to customer concentration, particularly in the premium smartphone market where it relies heavily on Apple. This makes it susceptible to shifts in device market share or the potential for customers to design their own internal chips. Additionally, Qualcomm faces intense competition from Broadcom (AVGO +0.39%) and Nvidia (NVDA -0.52%) in the AI and connectivity markets, alongside ongoing legal challenges regarding its patent licensing models.
Valuation comparisonQualcomm appears to be the more affordable option based on both earnings and sales multiples, while ASML commands a significant premium for its specialized market position.
MetricASML Holding N.V.QUALCOMMForward P/E41.6x17.5xP/S ratio17.6x4.2xValuation metrics include sourcing from Financial Modeling Prep (FMP) and may differ from other data providers.
Which stock would I buy in 2026?When it comes to investing in the artificial intelligence sector, ASML is a sure bet because of its legal monopoly on advanced lithography machines, which competitors have struggled to keep pace with, and management's excellent oversight of the company's finances.
That said, at this time, I would invest in Qualcomm. Its far lower share price valuation offers the potential for greater upside. The company's stock is down because its core handset business operates in a mature market.
Moreover, the cost of components, particularly computer memory, has soared over the past year due to demand from the AI sector, resulting in rising prices that reduced consumer demand for smartphones. This contributed to the company experiencing a 4% year-over-year decline in sales to $9.9 billion in its fiscal third quarter ended June 28.
However, Qualcomm is pivoting to servicing the AI data center market in a bid to expand its business. The company's recent deal with AI titan Amazon suggests it's gaining traction here. This new line of business provides the potential for Qualcomm to return to revenue growth.
Tržby Qualcommu z mobilních čipů ve 3. čtvrtletí fiskálního roku 2026 meziročně klesly o 20 % na 5,09 miliardy USD; provozní marže divize QCT má ve 4. čtvrtletí dále klesnout na 23–25 %.
Key Takeaways Qualcomm has risen 5.9% year to date, far behind the semiconductor industry's 205.5% gain.QCT handset revenues fell 20% in fiscal Q3, while Apple-related revenues are set to drop faster than expected.Qualcomm expects QCT margins to weaken further as input costs rise and data-center expansion adds risk. Qualcomm Incorporated (QCOM - Free Report) has jumped 5.9% year to date compared with the Electronics - Semiconductors industry’s growth of 39.4%. It has lagged the broader technology sector and the S&P 500 during this time.
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The company has underperformed its competitors like Intel Corporation (INTC - Free Report) and Advanced Micro Devices (AMD - Free Report) . Intel has surged 205.5%, while AMD has improved 204.3%.
Handset Weakness Remains QCOM’s Biggest Near-Term ProblemQualcomm’s core handset business is witnessing weak demand trends. In the third quarter of fiscal 2026, QCT handset revenues dropped 20% year over year to $5.09 billion. Management expects fiscal 2026 Android handset revenues to decline roughly 20%. Chinese OEM demand is expected to improve sequentially. However, this improvement is expected to be hindered by soft demand in other markets.
The company’s Apple exposure is changing faster than previously expected. Qualcomm now expects its modem share in the upcoming iPhone launch to be materially below the earlier 20% assumption. Apple-related product revenues could decline by about 50% sequentially from September to December 2026, while fiscal 2027 Apple product revenues are expected to fall below the earlier expectation of slightly more than $2 billion. Qualcomm expects this decline can be compensated by growth in non-handset business. But execution risks remain.
Higher Input Costs Are Hindering QCOM’s MarginThe semiconductor industry overall is witnessing increasing expenses across wafers, assembly, testing, advanced packaging and memory. Qualcomm is responding to these necessary price adjustments. But those increases will take time to get reflected in the financial results. Higher input costs are already impacting QCOM’s margin.
In the third quarter of fiscal 2026, its QCT segment’s EBT margin fell to 26% from 30% a year earlier, while QTL EBT margin declined to 69% from 71%. More importantly, Qualcomm expects QCT EBT margin to fall further to 23%-25% in the fourth quarter.
The Zacks Consensus Estimate suggests fiscal 2027 EPS at $10.02 versus $10.55 for fiscal 2026. At the same time, fiscal 2027 revenues are estimated at $44.34 billion compared with $42.89 billion for fiscal 2026. Revenues are expected to grow while EPS declines, highlighting the effect of margin and cost pressures.
Data-Center Expansion Offers Potential but it is Not Yet ProvenQualcomm is investing heavily to establish itself in data-center infrastructure. It is venturing into custom silicon, AI accelerators, connectivity and server CPUs. The opportunity is vast, but requires substantial investment in the near term. Execution risk and competition from other major players such as AMD and Intel. AMD already offers a broad data-center portfolio spanning EPYC CPUs, Instinct AI accelerators, networking and software, while Intel continues to strengthen its Xeon, networking and AI accelerator offerings.
Estimate Revision Trend of QCOMEarnings estimates for fiscal 2026 and 2027 have decreased over the past 60 days.
Image Source: Zacks Investment Research
Key Valuation Metric of QCOMGoing by the price/earnings ratio, the company's shares currently trade at 17.98 forward earnings, higher than 14.24 for the industry. From a valuation standpoint, QCOM appears to be trading at a premium compared to the industry.
Image Source: Zacks Investment Research
End NoteQualcomm’s growth trajectory can be compelling if it can diversify its portfolio. However, in the short run, declining handset revenue, falling Apple contribution in revenue and higher input costs are major concerns. Its venture in the data center space can be affected by growing competition. Hence, with a Zacks Rank #4 (Sell), investors should avoid investing in Qualcomm stock at present.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Qualcomm očekává, že dva kontrakty na zakázkové čipy pro hyperscalové poskytovatele začnou přinášet tržby ve čtvrtletí končícím v prosinci. Do fiskálního roku 2029 cílí na tržby z datových center ve výši více než 15 mld. USD.
Qualcomm still gets priced like a smartphone supplier, but two hyperscaler custom silicon deals about to generate revenue suggest the market is missing something significant about where this company is actually headed.
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The 24/7 Wall St. price target for Qualcomm (NASDAQ:QCOM | QCOM Price Prediction) is $225.99 over the next 12 months. The target sits 22.24% above the $184.87 close. The stock carries a buy rating with high confidence.
24/7 Wall St. Price Target Summary Metric Value Current Price $184.87 Price Target from 24/7 Wall St. $225.99 Upside/Downside 22.24% Recommendation BUY Confidence Level 90% My thesis: Qualcomm trades at a handset-supplier multiple of 20x forward earnings, yet management guides to $40 billion in non-handset revenue by fiscal 2029, with more than $15 billion from data center. Two hyperscaler custom silicon wins begin generating revenue in the December quarter.
Investor Day Rally Faded, but Momentum Is Rebuilding Shares fell 8.19% over the past week but are up 9.7% over the past month and 12.13% over the past year. The 52-week range runs from $120.88 to $257.56. The stock rose from $129.39 in mid-March to $220.81 in mid-June, ahead of the June 24 Investor Day.
In fiscal Q3, revenue of $9.95B beat the $9.67B consensus. Non-GAAP EPS of $2.21 just missed the $2.2208 estimate. Handsets dropped 20%. Automotive rose 61% to $1.59B.
Why Bulls See $243 or More Management expects data center revenue of $5 billion in fiscal 2027, rising to $15 billion in fiscal 2029. Qualcomm has taped out its first high bandwidth compute chip, launching in mid-2027. The Modular acquisition adds an open, hardware-agnostic AI software stack.
CEO Cristiano Amon expects non-handset growth to speed up to “greater than 60% in fiscal 2027″. Automotive is expected to exit fiscal 2026 at an annualized pace of about $7 billion.
Only 11 analysts have a positive rating on the stock, against 23 Holds, leaving room for upgrades. The bull case is $243.19.
Handset Pressure and Margin Drag Could Cap Gains Operating income fell 41.13% year over year from spending on the Modular deal plus the data center plan. Management expects early custom-chip revenue to cut QCT gross margin by one and a half to 2%.
Risks include China exposure, rising input costs, and customers designing their own chips. Management says a handset recovery could add greater than $1.50 of EPS once markets normalize. The bear case is $190.83.
Qualcomm Trades at a Discount to Custom Silicon Rivals Company Forward P/E Trailing P/E Qualcomm 20x 21x Broadcom 19x 44x Marvell 62x 90x Broadcom (NASDAQ:AVGO) is the leading supplier of custom AI chips to hyperscalers, Qualcomm’s target customers. Its forward multiple is close to Qualcomm’s, yet Broadcom posted 85.5% quarterly revenue growth while Qualcomm’s revenue fell 4%. Qualcomm’s data center expansion must deliver to earn a similar rerating.
Marvell (NASDAQ:MRVL) makes custom data center silicon with a market cap of $244.7 billion versus Qualcomm’s $197.45 billion. Investors pay a far higher forward multiple for Marvell’s AI growth. Our target implies about 23x forward earnings, which looks conservative against this peer group.
Qualcomm Price Prediction 2026-2030 The 24/7 Wall St. price target of $225.99 comes with a buy rating and 90% confidence. The deciding factor is the data center expansion.
The bull case improves if custom silicon revenue arrives on schedule in the December quarter. At about 20x forward earnings, the AI upside does not look priced in.
Looking further out, this is where our model projects Qualcomm could trade, assuming current growth trends and market conditions hold.
Year Price Target from 24/7 Wall St. 2026 $197.56 2027 $225.99 2028 $252.57 2029 $298.76 2030 $316.58 Qualcomm would need to keep executing on its diversification strategy for these projections to hold. Results could move well above or below them depending on hyperscaler adoption of the high bandwidth compute chip and on how quickly handset demand rebounds.
Contact [email protected] for any questions or corrections.
Huawei a Qualcomm uzavřely víceletou, rozsáhlou patentovou licenční dohodu týkající se 5G, výpočetních technologií, AI a sítí. Qualcomm také po schválení regulačními orgány koupí vybrané americké patenty společnosti Huawei.
Shenzhen, China--(Newsfile Corp. - October 5, 2026) - Huawei and Qualcomm today announced a multi-year, broad patent license agreement that includes cross licenses to the companies' patent portfolios across a range of technology fields, including 5G, compute, AI, and networking, together with Qualcomm's purchase of certain Huawei U.S. patents in the areas of compute, AI, networking, and other technologies. This transaction will close following receipt of the necessary regulatory approvals. The agreement reflects the companies' shared commitment to intellectual property rights and to licensing practices consistent with fair, reasonable and non-discriminatory (FRAND) principles.
"Huawei's decades of sustained investment in fundamental R&D have driven innovation and progress in mobile communications and other technology fields. Huawei's broad contributions to the 4G/5G standards, such as the near-physical-limit signal transmission technology using polar codes, have established Huawei's leadership in the mobile communications industry, and continuously transformed the way people communicate and live," said Alan Fan, Huawei's Chief Intellectual Property Officer. "This agreement not only demonstrates the value of Huawei's innovations, but also recognizes Qualcomm's foundational contributions to modern communication technologies."
"Qualcomm has invested in foundational wireless technologies that have enabled successive generations of mobile innovation and earned broad recognition across the global wireless industry. This agreement reaffirms industry recognition of Qualcomm's 5G technology leadership and the success of Qualcomm's 5G SEP licensing program," said John Han, Executive Vice President and General Manager of Qualcomm Technology Licensing. "This agreement likewise reflects Qualcomm's recognition of Huawei's continued innovation and intellectual property in 5G and other technology fields."
Hashtag: #Huawei
The issuer is solely responsible for the content of this announcement.
About Qualcomm
Qualcomm is a global computing leader at the center of the AI era, enabling intelligence to scale from the most personal devices to large-scale infrastructure. Building on more than four decades of innovation, we develop platforms and solutions that bring together advanced AI, high-performance low power computing, and industry-leading connectivity--powering products and services used around the world. At Qualcomm, we are engineering human progress.
Qualcomm Incorporated includes our licensing business, QTL, and the vast majority of our patent portfolio. Qualcomm Technologies, Inc., a subsidiary of Qualcomm Incorporated, operates, along with its subsidiaries, substantially all of our engineering and research and development functions and substantially all of our products and services businesses, including our QCT semiconductor business. Snapdragon and Qualcomm branded products are products of Qualcomm Technologies, Inc. and/or its subsidiaries. Qualcomm patents are licensed by Qualcomm Incorporated. Qualcomm, Snapdragon, Qualcomm Dragonwing and Qualcomm Dragonfly are trademarks or registered trademarks of Qualcomm Incorporated.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/317379
Automobilové tržby Qualcommu ve 3. fiskálním čtvrtletí 2026 meziročně vzrostly o 61,4 % na 1,588 mld. USD, navzdory poklesu prodejů elektromobilů v USA o 29,2 %.
U.S. electric vehicle sales are sliding, yet Qualcomm's automotive revenue keeps climbing at a pace that defies the headline numbers. The reason has less to do with EVs than with something most investors overlook entirely.
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U.S. battery-electric sales fell 29.2% through September, while conventional hybrid sales rose 22.4%. Qualcomm’s automotive revenue grew 61.4% year over year and 19.8% sequentially in its latest reported quarter. Snapdragon’s opportunity spans vehicle computing and connectivity, but Qualcomm’s worldwide results cannot be directly compared with U.S.-only vehicle sales. Qualcomm (NASDAQ: QCOM | QCOM Price Prediction) offers investors a way to examine automotive growth beyond the number of electric vehicles sold. Its automotive revenue reached $1.588 billion in its latest reported quarter, even as the U.S. battery-electric market remained under pressure. The apparent contradiction reflects two distinctions that matter to shareholders: Qualcomm sells automotive chips worldwide, and its opportunity extends beyond the electric powertrain into the computing and connectivity used throughout a vehicle.
The investment question is whether Qualcomm can increase the value of the functions it supplies per vehicle as automakers adopt more sophisticated digital cockpits and driver-assistance systems. Those functions can be sold into gasoline vehicles, conventional hybrids, plug-in hybrids, and battery-electric vehicles. A weaker U.S. EV market creates a headwind, but it does not define the entire market for Snapdragon automotive products.
U.S. Buyers Are Choosing Different Forms of Electrification The U.S. sales mix strengthens the case for distinguishing automotive computing from a pure EV investment. The National Automobile Dealers Association’s October 5 update reported that battery-electric sales fell 29.2% year over year through September 2026, while conventional hybrid sales rose 22.4%. BEVs represented 6.2% of new light-duty vehicle sales, compared with 15.6% for conventional hybrids. These are January–September results, rather than September-only figures.
According to Table 1, the August data show the same division between conventional hybrids and vehicles requiring external charging. Conventional hybrids sold at more than twice the combined volume of BEVs and plug-in hybrids. The hybrid growth story therefore requires a distinction: conventional hybrids are gaining, while plug-in hybrids are also experiencing substantial pressure.
Table 1. U.S. Electrified Vehicle Sales (Million Units, Except Ratios) Vehicle category or metric September 2025 January 2026 August 2026 Battery-electric vehicles 0.146 0.063 0.080 Plug-in hybrids 0.030 0.012 0.020 Conventional hybrids 0.156 0.151 0.216 Combined BEV + PHEV sales 0.175 0.075 0.100 Conventional hybrids / combined plug-ins 0.89× 2.00× 2.16× Calculations and analysis: The Information Network Note: Volumes are rounded to three decimals in millions. Combined volumes and ratios use unrounded inputs. September 2025 included purchases ahead of the federal tax-credit expiration; the three observations are not a seasonally adjusted series.
For Qualcomm, the opportunity is to supply functions buyers want regardless of the powertrain selected. A conventional hybrid does not need an external charger, but it can still use a digital cockpit, connected services, and advanced driver assistance. That makes automotive computing a different investment proposition from charging infrastructure or components tied specifically to large battery packs.
Snapdragon Competes for More Value Within Each Vehicle Snapdragon Digital Chassis encompasses several platforms. Cockpit supports infotainment, displays, and user interaction. Connectivity links the vehicle to networks and cloud services. Ride addresses driver assistance and automated-driving workloads. Qualcomm can potentially expand its role when a customer adopts its products across several of these functions.
Ride Flex addresses the consolidation of cockpit and driving workloads on shared computing hardware while maintaining isolation and dedicated safety mechanisms. The commercial significance is the potential to capture a larger computing assignment in a vehicle. Consolidation can reduce the number of separate chips, so investors should evaluate the value of the functions Qualcomm supplies rather than assume every new vehicle contains more Qualcomm chips.
BMW provides evidence at two different stages of commercialization. Snapdragon Ride Pilot launched commercially in November 2025 in the BMW iX3, establishing a production deployment of Qualcomm’s driving-system technology. Separately, BMW’s July 2026 selection of Qualcomm as its lead compute silicon provider covers next-generation cockpit and automated-driving model programs starting in the 2030s. That later award supports long-term positioning but cannot explain revenue already reported. Neither disclosed deal value nor guaranteed vehicle volume establishes its eventual financial contribution.
Worldwide Revenue Changes the Interpretation According to Table 2, the geographic distribution of plug-in vehicle sales illustrates the scale of Qualcomm’s opportunity outside the United States. Greater China and Europe together represented 79.2% of global BEV and PHEV sales in August 2026, while the United States represented 5.5%. For investors, that distribution supports evaluating Snapdragon’s worldwide customer programs rather than using U.S. EV sales alone to assess its automotive growth potential.
Table 2. Regional Share of Global BEV and PHEV Sales Region or metric September 2025 January 2026 August 2026 Europe 20.5% 27.6% 21.4% Greater China 62.8% 50.1% 57.8% United States 8.2% 6.4% 5.5% Rest of world 8.5% 16.0% 15.2% Global BEV + PHEV sales, million units 2.149 1.179 1.806 Calculations and analysis: The Information Network Volumes are rounded to three decimals in millions; shares use unrounded inputs. Percentages measure shares of global plug-in sales, not penetration within each region. Conventional hybrids and fuel-cell vehicles are excluded. Vehicle coverage follows the underlying dataset’s passenger and commercial vehicle designation. Rounding can prevent shares from summing to 100%.
The table shows where demand is concentrated; these three monthly observations do not establish regional growth rates. September 2025 included purchases ahead of the U.S. federal tax-credit expiration, and January reflects a different seasonal period. Qualcomm’s ability to convert the international opportunity into revenue depends on customer adoption, computing content per vehicle, and competition. The regional shares also do not measure Qualcomm’s own revenue exposure, and its automotive products address gasoline vehicles and conventional hybrids in addition to plug-ins.
According to Table 3, automotive has become a larger contributor to Qualcomm’s semiconductor business. Revenue increased 61.4% year over year in fiscal Q3 2026 and 19.8% from the preceding quarter. Automotive accounted for 18.7% of QCT revenue, compared with 10.9% a year earlier. QCT is Qualcomm’s semiconductor business; its patent-licensing business is reported separately.
Table 3. Qualcomm’s Automotive Revenue and Semiconductor Mix ($ Millions, Except Percentages) Metric Fiscal Q3 2025 Fiscal Q2 2026 Fiscal Q3 2026 Automotive revenue 984 1,326 1,588 Total QCT revenue 8,993 9,076 8,504 Automotive share of QCT 10.9% 14.6% 18.7% Automotive revenue growth, year over year — 38.3% 61.4% Automotive revenue growth, quarter over quarter — — 19.8% Source: The Information Network compilation and calculations using Qualcomm’s reported results The geographic limitation is important. Table 1 covers nationwide U.S. sales, Table 2 covers worldwide plug-in sales, and Table 3 reports Qualcomm’s worldwide automotive revenue. These measures provide context for the investment case, but they cannot be treated as matching measures of U.S. EV chip demand.
Timing also differs. Semiconductor shipments to manufacturers occur before vehicles reach buyers, and inventory adjustments can separate chip orders from retail sales. Qualcomm’s revenue growth is consistent with expanding automotive adoption and content, but the reported totals do not isolate hybrids, individual products, or the effect of specific customer awards.
Investor Takeaway Qualcomm’s automotive expansion gives shareholders an additional growth opportunity as its smartphone business faces pressure. Apple’s development of its own modems threatens part of Qualcomm’s chip content in phones, while Snapdragon creates an opportunity to supply more computing functions in cars. Automotive growth does not automatically replace lost handset profits, and Qualcomm’s total fiscal Q3 revenue still fell approximately 4% despite its strong automotive performance.
My investment view is constructive because the automotive opportunity already has reported revenue and production deployments behind it. The next test is whether Qualcomm sustains that momentum as customer programs expand, while converting the changing revenue mix into stronger company-wide earnings. Investors should judge the shares against sustainable profits and the price paid, rather than treating an automotive design award as revenue already secured.
The U.S. EV slowdown makes that distinction more useful. Qualcomm’s opportunity depends on what it supplies inside the vehicle and where its customers produce and sell vehicles. Continued gains in computing content across multiple powertrains can support growth even when American BEV sales remain weak, although they do not eliminate exposure to an automotive downturn.
Contact [email protected] for any questions or corrections.
Huawei uzavřela s Qualcomm víceletou patentovou licenční dohodu pro AI, 5G, computing a networking. Součástí je i nákup některých patentů Huawei v USA; hodnota licencí má přesáhnout 6,9 miliardy USD.
China's Huawei Technologies (HWT.UL) said on Monday it had agreed a broad multi-year patent licence deal with Qualcomm (QCOM.O) covering artificial intelligence, 5G, computing and networking technologies.
Here are some details:
The agreement includes Qualcomm's purchase of certain Huawei US patents related to computing, AI and networking, Huawei said in a statement.
It is Huawei's first patent licensing deal with Qualcomm that covers 5G technologies.
Huawei said the deal is expected to push the total value of its patent licensing agreements to more than $6.9 billion once completed.
The company said its intellectual property licensing business has generated positive revenue since 2021, reflecting years of heavy investment in research and development.
Huawei ramped up R&D spending in recent years, as US trade restrictions since 2019 have limited its ability to buy advanced chips and crucial software.
Huawei made its first licensing payment to Qualcomm in 2001, while it received its first licensing income in 2011 from Motorola.
The Qualcomm agreement follows a licensing deal with HP Inc (HPQ.N) announced by Huawei in August.
Qualcomm obnovil globální patentovou licenci s Applem, i když Apple dál omezuje nákupy jeho čipů. Licenční divize QTL přinesla 1,28B USD a má 69% marži EBT.
Apple just renewed a deal with a company whose chips it stopped buying, and that contradiction tells you everything about where Qualcomm's real power sits and why one investor keeps pressing the buy button.
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I keep adding to my Qualcomm position, and last week’s Apple news sent me straight back to the buy button. The headline looks like paperwork. For me, it confirmed the whole reason I own this stock.
What the Apple Renewal Really Locks In On September 24, 2026, Qualcomm (NASDAQ:QCOM | QCOM Price Prediction) announced the renewal of its global patent license agreement with Apple (NASDAQ:AAPL), effective April 1, 2027. Neither side disclosed terms, but the timing tells the story.
Apple’s chip business with Qualcomm is winding down fast. In July, the CFO said Qualcomm’s share of the upcoming iPhone launch would be “materially lower than our prior estimate of 20%”, with Apple product revenue forecast to fall roughly 50% from the September to December quarter. Apple is building its own modems, yet it still pays to use Qualcomm’s patents. The licensing unit, QTL, brought in $1.28B last quarter at a 69% EBT margin. Apple can stop buying Qualcomm chips, but it keeps paying Qualcomm to use wireless technology. That is the core of my thesis.
Three Reasons My Buy Orders Keep Coming First, growth beyond phones has already shown up. Automotive revenue hit $1.59B, up 61%, its 23rd straight quarter of double-digit growth. BMW named Qualcomm its lead compute silicon partner. Management expects non-handset growth to speed up from 24% in fiscal 2026 to greater than 60% in fiscal 2027, which it says “will replace the entire Apple product revenue within the year.”
Second, the company pays me to wait. In fiscal 2025, Qualcomm generated $12.82B in free cash flow and returned $12.60B to shareholders. The quarterly dividend rose from $0.89 to $0.92, and a new $20B buyback authorization sits behind it.
Third, the valuation still works on cash. The P/E of 35 looks steep, but a $5.7B non-cash tax charge distorted GAAP earnings. On cash, shares trade at 15.34 times free cash flow, a 6.52% free cash flow yield, alongside a 1.94% dividend yield. Net debt is just 0.61 times EBITDA.
Why My Money Skips Broadcom Broadcom (NASDAQ:AVGO) is the obvious AI chip alternative, and its AI semiconductor revenue grew 221% last quarter. Investors already price that in. Its roughly $1.7 trillion market cap works out to about 43 times trailing four-quarter free cash flow by my math, against Qualcomm’s 15.34. Broadcom also lists dependence on a limited number of large AI customers and heavy debt among its risks. I prefer paying less for growth that is just starting.
Risk I Refuse to Ignore Handsets remain the biggest line, and they fell 20% to $5.09B. Memory costs are pressuring phone makers, China exposure carries trade risk, and non-GAAP EPS of $2.21 missed the $2.22 consensus, ending a six-quarter beat run. Management expects Android revenue down 20% this year.
That pain is real. It still has not broken my thesis. Qualcomm is passing through double-digit price increases, says China revenue bottomed in the June quarter, and forecasts a double-digit sequential rebound.
Catalysts Keeping My Buy Button Active Revenue from two hyperscaler custom silicon programs begins in the December quarter, data center revenue is targeted at $5 billion in fiscal 2027, and an Amazon data center collaboration followed in September. The stock slipped 7.15% over the past week to $184.10, and I treated that dip as a chance to add.
Apple is moving its chips in-house and still renewed the patent license, and I plan to remain a buyer while Qualcomm keeps collecting those royalties.
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Qualcomm just sealed a renewed patent deal with Apple, and the market moved fast. Whether this resets the ceiling for QCOM shares or simply buys time before a bigger reckoning depends on what replaces billions in revenue that could vanish…
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Qualcomm (NASDAQ:QCOM | QCOM Price Prediction) trades near $194.19 with Wall Street’s $194.13 consensus target. Our 24/7 Wall St. price target of $228.68 implies 16.27% upside.
This morning’s renewal of Qualcomm’s Global Patent License Agreement with Apple removes a major long-running overhang. Our model rates QCOM a buy with high confidence.
Metric Value Current Price $194.19 24/7 Wall St. Price Target $228.68 Upside 16.27% Recommendation BUY Confidence 90% A Blistering Month for QCOM Shares Qualcomm shares are up 23.16% over the past month and 15.33% year to date, though below the 52-week high of $257.56.
A multi-generational AI data center collaboration with Amazon announced September 8 and today’s Apple deal fueled the move. Fiscal Q3 revenue of $9.95 billion beat estimates but fell 4% year over year, while non-GAAP EPS of $2.21 missed by a penny. Handsets fell 20% YoY, offset by Automotive up 61% and IoT up 9%.
Why Bulls See a Path to $245 The bull case rests on CEO Cristiano Amon’s raised $40 billion non-handset revenue target for fiscal 2029. Non-handset growth is projected to accelerate from 24% in fiscal 2026 to greater than 60% in fiscal 2027.
Data center is guided to $5 billion in fiscal 2027 and $15 billion by fiscal 2029, powered by two hyperscaler custom-silicon wins with POs in hand. Automotive is lifted to a $7 billion annualized run rate. Our bull scenario puts QCOM at $245.07, or 24.6% upside.
What Could Send QCOM Back to $192 The bear case: Apple is taking materially lower than 20% share in the upcoming iPhone launch, with roughly a 50% sequential decline in Apple revenue into the December quarter. About $7.5 billion of Apple revenue must be replaced in fiscal 2027.
Rising memory and wafer costs, plus 1.5% to 2% gross-margin drag from early data-center silicon, add execution risk. Management flagged greater than $1.50 of EPS as a normalization tailwind once the cycle turns. Our bear scenario: $192.71.
How Qualcomm Compares to Broadcom, NXP, and Marvell Broadcom (NASDAQ:AVGO) is the closest large-cap analog with overlapping Apple wireless exposure and custom-silicon data-center leadership. AVGO trades at 19x forward earnings on 86% YoY revenue growth. QCOM’s forward multiple looks inexpensive if the diversification thesis lands.
NXP Semiconductors (NASDAQ:NXPI) is the auto-semi anchor. NXPI trades at 13x forward earnings on 20% revenue growth. QCOM’s premium is justified by 61% auto growth.
Marvell Technology (NASDAQ:MRVL) is the pure-play hyperscaler custom-silicon peer at 63x forward earnings. If Marvell’s multiple is directionally right, QCOM’s data-center ramp is barely priced in.
Why Qualcomm Looks Attractive Here Our 24/7 Wall St. price target is $228.68, a buy with 90% confidence. Non-handset revenue is projected to become the majority of QCT by fiscal 2027.
The thesis rests on the two hyperscaler custom-silicon wins converting to real December-quarter revenue as guided, part of the broader AI data-center buildout we mapped across seven non-chipmaker suppliers in a free report here.
The primary risk is memory costs compressing margins without offsetting volume growth. On balance, risk/reward skews positive. Looking further ahead, here is where our model projects QCOM could trade in the coming years, assuming current growth trajectories hold.
Year 24/7 Wall St. Price Target 2026 $202.89 2027 $230.33 2028 $254.24 2029 $282.74 2030 $297.47 These projections assume Qualcomm continues executing on its data center and automotive ramp. Meaningful upside or downside could result from faster hyperscaler adoption or a prolonged handset downturn.
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Qualcomm představil Snapdragon Sound Elite Gen 2 pro sluchátka s umělou inteligencí, sluchátka, otevřená sluchátka, audio brýle a nositelná zařízení s kamerou. Platforma má až dvojnásobnou kapacitu pro umělou inteligenci, o 40 % nižší spotřebu a o 30 % menší velikost.
Key Takeaways QCOM introduced Snapdragon Sound Elite Gen 2 for AI-enabled earbuds, headphones and wearables.The platform doubles AI capability while cutting power consumption by up to 40% and footprint by 30%.Qualcomm enables real-time translation, contextual assistance and personalized hearing with multimodal AI. Qualcomm Incorporated (QCOM - Free Report) has introduced the Snapdragon Sound Elite Gen 2 Platform, a new solution for intelligent audio wearables. It combines high-quality audio, on-device artificial intelligence (AI) and advanced connectivity, expanding the company’s presence in the growing AI-enabled wearable market.
Qualcomm’s Snapdragon Sound Elite Gen 2 is designed for a wide range of products, including earbuds, headphones, open-ear devices, audio glasses and camera-enabled wearables. It delivers up to twice the AI capability of its predecessor while reducing power consumption by up to 40% and footprint by up to 30%. These improvements can help manufacturers develop more responsive and power-efficient devices.
The platform includes features such as Qualcomm aptX Lossless, XPAN, fifth-generation Active Noise Cancellation, cVc technology and the Snapdragon Audio Sense Solution. These technologies enhance sound quality, voice clarity and interactions with AI assistants across different environments. It also integrates micro-power Wi-Fi 6E for direct-to-cloud connectivity, allowing the wearables to access AI assistants, services and digital content.
The multimodal capabilities of the company’s latest solution can power applications like real-time translation, contextual assistance and personalized hearing. Its camera-enabled devices can gather context about the surrounding environment to deliver more responsive AI experiences. The launch advances Qualcomm’s efforts to bring intelligent computing and advanced connectivity to a broader range of next-generation wearable devices.
How Are Competitors Performing in the Wearable Industry?Qualcomm faces competition from Apple Inc. (AAPL - Free Report) and Alphabet Inc. (GOOGL - Free Report) . Apple expanded its wearable lineup with Apple Watch Series 12, Apple Watch Ultra 4, Apple Watch SE 3 and AirPods 5. The company is adding AI and audio capabilities, including Siri AI, Audio Intelligence and Live Translation. Apple is enhancing health and fitness features, with its latest Apple Watch models offering higher-frequency heart-rate and HRV measurements and a new readiness score.
Alphabet is advancing its Pixel Watch and Wear OS ecosystem with new software and AI capabilities. The company introduced Pixel Watch 5 with Gemini Intelligence and updated Wear OS 7 with new glanceable features. Alphabet is expanding the Google Health app, which combines Fitbit data with other health information and includes a Gemini-powered Health Coach.
QCOM’s Price Performance, Valuation and EstimatesQualcomm shares have gained 16.2% over the past year compared with the industry’s growth of 40.4%.
Image Source: Zacks Investment Research
Going by the price/earnings ratio, the company's shares currently trade at 19.66 forward earnings, higher than 13.94 for the industry.
Image Source: Zacks Investment Research
Earnings estimates for fiscal 2026 have declined 2.2% to $10.55 over the past 60 days, while those for fiscal 2027 have also decreased 7.9% to $10.02.
Qualcomm uvedl, že Apple prodloužil dohodu o patentových licencích. Partnerství pokračuje, i když se Apple snaží snížit závislost na modemových čipech Qualcommu.
Qualcomm (QCOM.O) said on Thursday Apple (AAPL.O) has extended its patent-licensing agreement with the chip designer, even as the iPhone maker looks to cut its reliance on the company's modem chips.
The semiconductor company did not give a timeline for the latest move. The current agreement ends on March 31, 2027, with an option to extend it by two years. Both Apple and Qualcomm did not respond to requests for comment.
Even though the deal keeps Apple tied to some of Qualcomm's patent portfolio, the chip designer had said in July that revenue from Apple products would decline faster than expected.
Qualcomm's licensing business accounted for roughly 15% of total revenue in the June quarter. The company had said it was banking on growth in its data center business to offset the lost revenue from Apple in 2027.
In 2023, Qualcomm signed a deal with Apple to supply 5G chips until at least 2026, at a time when the iPhone maker was facing increased challenges in China and looked to shore up its supply chains elsewhere.
The partnership has been shaped by a 2019 settlement that ended a two-year global legal battle over wireless-patent royalties and modem-chip supply. They announced the truce in April 2019 as a U.S. jury trial between them was beginning in San Diego.
Under the settlement, Apple made an undisclosed payment to Qualcomm, the companies dropped litigation worldwide and agreed to a six-year global patent licensing deal from April 1, 2019.
(This story has been corrected to say 'patent licensing,' not 'chip licensing,' in the headline.)
Qualcomm představil Snapdragon START a nové platformy pro osobní AI v brýlích, sluchátkách a PC. Ukázal také čip pro AI brýle a prémiovou audio platformu Snapdragon Sound Elite Gen 2.
Chips to Bots: Qualcomm’s Agentic AI BreakoutQualcomm NASDAQ: QCOM used the second day of its Snapdragon Summit to outline its vision for “personal AI,” highlighting new on-device AI software, wearable reference designs, audio platforms and partnerships intended to support agentic experiences across phones, PCs, cars, glasses and other connected devices.
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The company’s presentations emphasized a hybrid computing model in which AI workloads can be distributed between cloud infrastructure and local devices depending on factors including latency, privacy, connectivity and available compute resources.
Liquid AI Announces Context Layer for Snapdragon Old Dogs, New Tech: 3 Legacy Stocks Powering the AI BoomRamin Hasani, co-founder and CEO of Liquid AI, announced Liquid Context on Snapdragon, which he described as a smart memory layer designed to read, compress and write information from user experiences across devices. The product is intended for original equipment manufacturers, or OEMs, and combines a memory layer with local AI agents.
Hasani said the system can use information users authorize it to access, such as messages, notes and photos, to help agents carry out proactive tasks. In a demonstration, he described an agent that could manage a calendar and draft social-media posts while operating locally on a Snapdragon device’s Hexagon neural processing unit.
Meta Platforms’ Petal Cable Puts Corning at the Center of AI’s Bandwidth BoomLiquid AI, which spun out of MIT CSAIL about three and a half years ago, builds open-weight Liquid Foundation Models ranging from 200 million to 24 billion parameters, according to Hasani. He said the company’s models receive about 1.4 million downloads weekly and are designed through a hardware-in-the-loop approach rather than relying solely on post-training optimization.
Hasani also said Liquid AI is working with Mercedes-Benz on local in-car intelligence using Qualcomm Snapdragon Digital Cockpit technology. He said the company aims to have its models deployed on 50% of annually produced devices across categories including wearables, handsets, vehicles, PCs, robots and industrial products by 2029.
Wearables, Glasses and Health Applications Ziad Asghar, senior vice president and general manager of XR, wearables and personal AI at Qualcomm Technologies, said wearable devices could provide the real-time context needed for more personalized AI. He highlighted watches, glasses, rings, earbuds, pendants and other devices as potential inputs for AI systems that can see, hear and understand a user’s environment.
Qualcomm introduced its Snapdragon START program, which is designed to help partners bring personal AI devices to market through silicon, software and ecosystem support. The company said it has developed a compact module based on the Snapdragon AR1+ platform for AI glasses.
Inspecs, an eyewear manufacturer, said it is collaborating exclusively with Qualcomm Technologies under Snapdragon START on the Snapdragon AR1+ Gen 1 platform. Founder and Executive Chairman Robin Totterman introduced enterprise safety eyewear with a bridge-mounted camera, microphones, speakers, voice and touch controls, and a high-capacity battery. The glasses are intended to support hands-free AI and remote assistance in industrial settings.
Aware CEO Ash Saulsbury said his company is developing an agentic operating system, Agentic System One, centered on eyewear. He described workflows that could move across glasses, phones and cars, while stating that users’ memories would be cryptographically stored and accessible only to the user.
Qualcomm also previewed a personal AI pin reference design powered by the Snapdragon Wear Elite platform. The pin combines standalone 5G, dual cameras, microphones and on-device AI, with more information expected next year.
In healthcare, Asghar announced the formation of the Personal AI Health Alliance, a community of healthcare and technology organizations focused on on-device personal AI applications. Representatives from Optum Health, Scripps Health and Merck discussed potential uses including fall-risk monitoring, ambient clinical documentation and more personalized care.
New Premium Hearables Platform Qualcomm introduced Snapdragon Sound Elite Gen 2, a premium audio platform designed for personal AI hearables. Andrew Laister, staff product manager at Qualcomm, said the platform is 30% smaller than its predecessor, doubles compute and AI performance, and reduces power consumption by 40%.
The platform includes integrated Bluetooth and micropower Wi-Fi connectivity and is intended to support voice-first AI interactions, contextual sensing and premium audio. Qualcomm also announced Snapdragon Sound Apps and Agents, an ecosystem intended to let service providers deliver applications and AI agents directly to compatible hearables. The company said it is working with MicroEdge, Cinemo, Roon and Qobuz-related service pathways, among others.
Cleer said it is collaborating with Qualcomm on intelligent hearables that combine audio and visual context, while HP and Bose were also cited as companies working with Qualcomm on future audio products.
PC, Software and Ecosystem Updates Chris Lattner, Qualcomm’s executive vice president of advanced AI software and platforms and a co-founder of Modular, discussed the company’s unified AI software stack spanning Mojo, MAX and Modular Cloud. He said Mojo 1.0 was released under the Apache 2.0 license and that Qualcomm plans to bring the software platform across its portfolio, including Snapdragon devices.
Kedar Kondap, Qualcomm Technologies’ senior vice president and general manager of compute and gaming, said more than 7,300 applications now run on Windows on Snapdragon, alongside more than 170 PC designs. He also announced official Linux support for Snapdragon X2 Series platforms, with Debian support expected by year-end. Canonical said it is targeting Ubuntu certification for Snapdragon X2 Series systems in the first half of next year.
Microsoft announced new Snapdragon-powered Surface devices available for preorder, including a 12-inch Surface Pro and 13-inch Surface Laptop based on Snapdragon X Plus. Microsoft said the laptop offers up to 22 hours of battery life and 95% faster local AI inference generation year over year, while the Surface Pro features a brighter display and faster graphics performance.
Google also discussed Googlebook, a new laptop platform that combines ChromeOS and Android technologies and is built to use Snapdragon X Elite. Google said the platform will support desktop-optimized Android applications, the Play Store catalog, desktop Chrome, local Gemini features and up to 19 hours of real-world battery life.
About Qualcomm (NASDAQ:QCOM)Qualcomm Incorporated NASDAQ: QCOM is a technology company that develops wireless communications technologies, semiconductors and related intellectual property. Headquartered in San Diego, California, the company serves customers and partners worldwide across the mobile, automotive, consumer electronics and industrial markets.
Through its Qualcomm CDMA Technologies (QCT) business, Qualcomm designs and supplies integrated circuits, system software and hardware platforms. Its products include Snapdragon mobile platforms, 5G and other wireless modems, radio-frequency components, connectivity solutions, processors and artificial intelligence technologies.
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Wall Street often prices Qualcomm Incorporated NASDAQ: QCOM through the lens of cyclical smartphone upgrade patterns, overlooking the transformation unfolding across its product portfolio. By pairing its two-nanometer AI phone chips with the purchase of PickNik Robotics, Qualcomm is systematically establishing control over digital and physical edge computing.
Qualcomm Today
$197.24 -1.03 (-0.52%)
As of 04:00 PM Eastern
$121.99▼
$259.921.87%
22.83
$204.10
This dual-engine expansion fundamentally resets the growth story as on-device AI scales across consumer and industrial applications.
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While 12-month analyst price targets for QCOM average $204, the company's dividend and share buyback spending help limit downside, giving long-term investors an attractive margin of safety during this expansion phase. The market's hesitance to assign QCOM a premium multiple right now presents a distinct opportunity for investors willing to look past immediate handset cycles.
Two-Nanometer Dominance in Premium SmartphonesQualcomm recently unveiled the Snapdragon 8 Elite Gen 6 and the higher-spec Snapdragon 8 Elite Extreme Gen 6. Built on an advanced two-nanometer process node, these chips integrate a custom Oryon CPU, an upgraded Adreno GPU featuring Adreno Neural Fusion, and a specialized Hexagon NPU. The addition of neural fusion bridges the gap between traditional graphics rendering and machine learning tasks, producing smarter graphics that improve battery efficiency and user playtime.
The core investment thesis revolves around the cost of agentic AI. Market consensus continues to underestimate the cost efficiencies of running AI agents locally on a device. When software developers rely on cloud hyperscalers for AI, they incur recurring token costs and experience latency.
Moving these workloads onto the phone's own chip shifts the compute burden to the device, eliminating those ongoing cloud costs. If Qualcomm edge chips become established as essential infrastructure for real-time digital assistants, the hardware will become a baseline requirement rather than an iterative upgrade.
Offering two price tiers for its top chips allows Qualcomm to capture higher average selling prices from major Android manufacturers. Early hardware commitments from global builders like Xiaomi, OnePlus, vivo, and OPPO translate technical leadership into defensible revenue growth. This pricing power helps shield operating margins from memory cost inflation, a headwind currently pressuring handset build schedules across the industry.
Weaponizing the PickNik AcquisitionThe mobile segment represents only one side of the edge computing equation. In late September, management announced an agreement to acquire PickNik Robotics, the company that maintains MoveIt, a leading open-source motion-planning framework built on the Robot Operating System.
Securing software-layer control in physical AI provides a distinct structural advantage. By embedding MoveIt directly into its proprietary Dragonwing robotics platform and Arduino VENTUNO Q hardware, Qualcomm builds a foundational developer-ecosystem moat.
This strategy mirrors the developer lock-in that big tech companies successfully built through proprietary compute layers over the last decade. When engineers train and deploy robots using a specific software environment, switching costs become prohibitively high.
Combining industrial automation software with advanced silicon pushes Qualcomm deeper into automated logistics, factory robotics, and physical machinery. Expanding into these industrial sectors creates a large non-handset addressable market that diversifies revenue away from phone upgrade cycles and supports long-term margin stability. Hardware margins naturally stabilize when software integration becomes the primary value driver for the end user.
Optical Interconnects: The New Data Center CatalystBeyond phones and robots, Qualcomm is methodically reducing its dependence on a few revenue sources. A recent joint demonstration showcased optical die-to-die interconnects designed for hyperscale systems. Partnering with Corning Incorporated NYSE: GLW and Lumentum Holdings NASDAQ: LITE, Qualcomm is expanding its total addressable market to include data center interconnect fabrics. As data centers scale to meet AI demand, traditional copper connections face bandwidth bottlenecks, making optical interconnects a necessary evolution for modern compute infrastructure.
Management also confirmed two custom data center chip programs, scheduled to begin generating commercial revenue during the upcoming December quarter. These moves function as an emerging counterweight to expected client losses. The impending loss of baseband modem revenue as Apple NASDAQ: AAPL transitions to proprietary chips remains a medium-term drag on licensing and chipset volume. Establishing a firm foothold in the data center provides the necessary top-line replacement for Qualcomm.
The Googlebook PC initiative and broader Snapdragon X platform traction offer secondary vectors for high-margin computing market penetration. Taking market share from x86 incumbent chipmakers in the laptop space adds another layer to the revenue diversification strategy, proving Qualcomm can compete effectively outside of mobile architectures.
Pricing the Pivot: Valuation and Strategic PositioningQualcomm shares recently bounced out of an acute pullback, recovering from a drop below $178 to trade near $196. At this level, Qualcomm trades at about 22 times trailing earnings and carries a forward price-to-earnings ratio of 25. Qualcomm generates nearly $12 per share in operating cash flow and maintains a return on equity exceeding 38%. With a beta of 1.68, the stock is more volatile than the broader market, which helps explain the recent wide trading range.
Qualcomm Incorporated (QCOM) Price Chart for Wednesday, September, 23, 2026
Despite strong fundamentals, the current consensus price target sits around $204, implying limited upside. Wall Street rates QCOM a consensus Hold, highlighting reluctance to assign the company a premium valuation without clear top-line acceleration.
This hesitation is partly justified by recent historical performance, as quarterly revenue contracted about 4% year-over-year in the most recent report. Recent insider transactions, including share sales by the CFO, have also contributed to cautious short-term positioning as the market awaits concrete sales data.
Downside risk appears well-protected by aggressive capital allocation measures. A $20 billion share repurchase authorization permits the retirement of nearly 15% of outstanding shares. Combined with an active cash dividend program yielding near 1.8%, these capital returns provide a comfortable margin of safety.
Investors may want to add Qualcomm to their watchlist to monitor whether premium Android pre-orders lift blended chip margins above 21% during the next earnings call. Observing how quickly the custom data center chip scales will provide the clearest signal that this pivot is translating directly into sustained earnings power.
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Qualcomm představil dvě vlajkové 2nm platformy Snapdragon 8 Elite Extreme Gen 6 a Snapdragon 8 Elite Gen 6 pro smartphony s AI. Zároveň tržby QCT v segmentu handset ve fiskálním 3. čtvrtletí klesly o 20 % na 5,09 miliardy USD.
Key Takeaways Qualcomm launched two flagship 2nm Snapdragon platforms designed for next-gen AI-powered smartphones.Qualcomm's QCT handset revenue fell 20% as OEM cuts, memory pricing and supply constraints weighed.HONOR, Motorola, OnePlus, OPPO, vivo and Xiaomi are expected to launch devices with the new Qualcomm chips. Qualcomm Incorporated (QCOM - Free Report) is strengthening its position in the premium smartphone market with the launch of two new flagship mobile platforms called Snapdragon 8 Elite Extreme Gen 6 and Snapdragon 8 Elite Gen 6. Built on advanced 2nm technology, the new Snapdragon 8 Elite Extreme Gen 6 chip is Qualcomm’s most powerful mobile platform, and both the chips are designed to support AI-driven experiences. The new SoCs are engineered to bring faster on-device AI, gaming, imaging and connectivity capabilities to next-generation smartphones.
The push toward agentic AI is important here. Smartphone AI is gradually moving beyond conventional cloud-based features toward greater on-device processing. Higher con device computing capability can enable smartphones to handle more AI workloads directly on the device. The Snapdragon 8 Elite Extreme Gen 6 introduces Adreno Neural Fusion, which uses AI to enhance graphics and gaming experiences. The platform also adds AI-powered camera capabilities, including Advanced Professional Video (APV) support. Per Qualcomm, the Intelligent Pixel Control feature can improve scene understanding and image quality.
Qualcomm’s strategy of introducing two premium flagship chips instead of one gives OEMs better options for their unique requirements. Owing to its leading-edge features, the chips have already generated early interest from major companies. Leading smartphone brands, such as HONOR, Motorola, OnePlus, OPPO, vivo and Xiaomi, are expected to launch devices powered by the new Snapdragon platforms.
QCT handset revenues fell 20% year over year to $5.09 billion in the fiscal third quarter as major OEMs reduced purchases. It is to be noted that memory pricing, supply constraints and cyclicality in the handset market continue to weigh on QCOM’s smartphone business. The new chips are primarily targeted at premium and top-tier smartphones, so their impact on Qualcomm’s financial results will depend on continuous demand and adoption.
How Are Competitors Faring?Qualcomm faces competition from STMicroelectronics N.V. (STM - Free Report) and Intel Corporation (INTC - Free Report) in the semiconductor space. STM has a strong presence in the smartphone semiconductor ecosystem. Its portfolio consists of sensing, connectivity, security and power-management technologies. STM provides components that support functions ranging from imaging and environmental sensing to wireless connectivity and secure mobile services. Recently, the company introduced the ST54M, a single-die secure mobile chip that is designed to support secure mobile services such as digital payments, identity credentials and access control.
Intel competes with Qualcomm in the broader semiconductor space. Intel is building a broader AI infrastructure platform spanning CPUs, ASICs, graphics, networking and advanced packaging as customers design workload-specific systems. Its AI PC and edge strategy is gaining traction as AI workloads move closer to devices and enterprise customers seek efficient local processing.
QCOM’s Price Performance, Valuation and EstimatesQualcomm shares have gained 17% over the past year compared with the industry’s growth of 39.5%.
Image Source: Zacks Investment Research
Going by the price/earnings ratio, the company's shares currently trade at 19.76 forward earnings, higher than 13.96 for the industry.
Image Source: Zacks Investment Research
Earnings estimates for fiscal 2026 and 2027 have decreased over the past 60 days.
Akcie Qualcommu vzrostly o 7 % na 190,82 USD po demonstraci AI optického propojení s Lumentum Holdings a Corning, která rozšiřuje příběh firmy za hranice smartphonů. Skyworks a Qorvo naopak zůstaly téměř beze změny.
A trade show demonstration quietly repositioned Qualcomm inside one of the market's most coveted growth stories, and the divergence from its closest chip peers reveals exactly what investors think the moment is worth.
An AI interconnect demonstration by Qualcomm (NASDAQ:QCOM | QCOM Price Prediction) and two optical infrastructure partners has broadened the chipmaker’s story past its long-standing handset business, and the market is repricing that shift. Qualcomm stock is up 7% to $190.82 in Monday afternoon trading, running well ahead of a rallying chip tape. The move puts Qualcomm silicon into a conversation the market has been paying up for.
The iShares Semiconductor ETF (NASDAQ:SOXX) is up 4% to $555.42. Meanwhile, the Invesco QQQ Trust (NASDAQ:QQQ) is up 2.51% to $738.79. Qualcomm is outrunning both benchmarks by a wide margin, which frames the session as a company-specific rerating rather than a broad chip or large-cap tech lift.
The catalyst is a joint demonstration announced by Lumentum Holdings (NASDAQ:LITE) with Qualcomm Technologies of a high-density die-to-die optical interconnect built for artificial intelligence scale-up architectures, to be shown at an optical communications industry conference in Málaga, Spain. Corning (NYSE:GLW) is the third participant, supplying multimode fiber connectivity for the demonstration. Qualcomm Technologies is a subsidiary of Qualcomm, and the announcement is Lumentum Holdings’ own, with Qualcomm appearing as a named participant rather than as its author.
Optical Interconnect Demo Reframes the QCOM Story The demonstration pairs a die-to-die interface subsystem from Qualcomm Technologies with Lumentum Holdings’ laser-based optical interconnect platform and Corning multimode fiber connectivity. Qualcomm Technologies’ die-to-die interface technology is designed to optimize power and area while enabling efficient direct-drive optical connectivity. That’s a very different set of talking points than the smartphone modem business Qualcomm is most associated with.
Tony Chan Carusone, Senior Vice President for Technology at Qualcomm Technologies, stated that artificial intelligence scale-up requires die-to-die connectivity delivering high bandwidth density while minimizing latency, power and area, and that the collaboration shows how the company’s die-to-die interface technology can extend into optical links for future artificial intelligence system architectures. That framing is the piece the market is repricing today, since Qualcomm has largely been denied the AI infrastructure multiple its chip peers have collected.
Notably, Qualcomm is running faster than the semiconductor fund and the large-cap tech benchmark on a day both are strongly bid, so today’s advance reflects something specific to Qualcomm rather than a general chip rally. That the demonstration lands with two credible optical infrastructure partners rather than as a solo announcement also lends the story more weight (we profiled seven suppliers powering the AI buildout beyond the chipmakers in a free report here).
Skyworks and Qorvo Sit Out the Rally Skyworks Solutions (NASDAQ:SWKS) is a radio frequency (RF) front-end supplier that sells into the same smartphone cycle as Qualcomm and is almost always discussed alongside it. The stock is up 0.4% to $89.11, essentially unmoved next to Qualcomm’s advance.
Qorvo (NASDAQ:QRVO) is the other major RF front-end name typically grouped with Skyworks in the handset supply chain. The stock is up 0.4% to $117.60, also barely budging on the session. Neither company was part of the demonstration.
A handset-cycle catalyst, an Apple order revision or a smartphone demand revision would be expected to move all three names together. That’s rotation, not a sector-wide verdict. Friday ran the other way for all three, with Qualcomm falling as the prior month’s rally unwound and Skyworks and Qorvo slipping alongside it. The trio moved together then and have split apart today, which is what makes the divergence worth noticing.
What to Watch Next The bull case for Qualcomm stock is that AI scale-up interconnect is a genuinely large addressable market where its die-to-die interface work has a credible seat, and Qualcomm has been paying for AI infrastructure exposure it was largely denied.
Complicating the picture, a proof of concept at a trade show is neither a product nor an order, and Qualcomm’s business is still built on handsets whatever direction the demonstration implies. What a trader weighs today is whether Qualcomm has found a second act or is collecting an AI multiple on a conference demonstration.
Investors sizing new Qualcomm exposure here should keep their positions moderate given how quickly today’s rerating happened and how much of it rests on a single demonstration ahead of any customer commitment. Traders can watch for follow-through announcements out of the Málaga event that convert the demo into named production engagements. Shareholders may want to keep an eye on whether Skyworks and Qorvo continue to diverge from Qualcomm on subsequent AI infrastructure headlines, since that split is the market’s live read on whether the die-to-die story sticks.
Contact [email protected] for any questions or corrections.
Společnost Qualcomm oznámila za fiskální 3. čtvrtletí tržby 9,95 miliardy USD, meziročně o 4 % méně, a upravený zisk na akcii (non-GAAP) 2,21 USD, což představuje pokles o 20 %.
There’s an old saying in business, “You don’t want to stand in front of a freight train.” But there’s another rule that matters just as much. You don’t want to stand underneath falling earnings estimates. That’s where today’s Bear of the Day sits. Estimates creeping down lower even as record earnings numbers continue to pile in for the rest of the S&P 500. When those estimates creep down, unfortunately, price has a tendency to follow.
Today’s Bear of the Day is Zacks Rank #5 (Strong Sell) Qualcomm ((QCOM - Free Report) ). Qualcomm remains one of the biggest names in wireless semiconductors, and there are absolutely pieces of the business working. Automotive is growing. IoT is growing. Edge AI provides another potential long-term opportunity. The problem is that the engine that has historically paid the bills, handsets, is sputtering.
Fiscal third-quarter revenue came in at $9.95 billion, down 4% year over year. Non-GAAP earnings were $2.21 per share, down a much uglier 20%. The headline underneath the headline was handset revenue, which dropped 20% to $5.09 billion. Revenue down 4%. Earnings down 20%.
You don't need a PhD in semiconductor engineering to figure out what that says about the margin picture. Higher input costs have been squeezing profitability, while Qualcomm's QCT business has been dealing with a weaker mix and softer handset demand. Management guided fiscal Q4 adjusted EPS to just $2.05-$2.25, with QCT EBT margins expected at 23%-25%.
Then there's the elephant in the room. Apple. Apple's transition toward its own modem technology is happening faster than Qualcomm previously expected. Qualcomm said its modem share in the upcoming iPhone generation would be materially below its previous 20% assumption. That's premium business walking out the door, and Qualcomm now has to replace it somewhere else.
Analysts don’t see it yet. Over the last sixty days, 11 analysts cut their estimates for the current year while 13 have done so for next year. The bearish moves have dropped our Zacks Consensus Estimate for the current year from $10.79 to $10.55 while next year’s number is off from $10.88 to $10.02.
Qualcomm is in the Electronics – Semiconductor industry which ranks in the Top 18% of our Zacks Industry Rank. There are several stocks within this industry that are in the good graces of our Zacks Rank. These include Zacks Rank #1 (Strong Buy) stocks AXT ((AXTI - Free Report) ) and FormFactor ((FORM - Free Report) ).
Qualcomm čeká pokles marže QCT EBT na 23 % až 25 % ve čtvrtém fiskálním čtvrtletí kvůli vyšším nákladům na čipy a slabší poptávce po smartphonech. Tržby z handsetů ve třetím fiskálním čtvrtletí klesly meziročně o 20 % na 5,09 miliardy USD.
Key Takeaways Qualcomm expects QCT EBT margin to fall to 23%-25% in fiscal fourth quarter.Higher chip costs and fixed-price contracts could delay margin gains from price hikes for several quarters.QCOM handset revenue fell 20% as OEMs cut purchases and shifted toward prior-generation processors. Qualcomm Incorporated (QCOM - Free Report) is facing near-term margin pressure as rising semiconductor input costs, weaker smartphone demand and an unfavorable product mix weigh on its QCT business. In the third quarter of fiscal 2026, QCT EBT margin declined to 26% from 30% a year earlier. The company expects the metric to fall to 23-25% in the fiscal fourth quarter.
The primary pressure is coming from higher costs across the semiconductor supply chain. Qualcomm cited increases in wafer fabrication, assembly, testing, advanced packaging, memory and other materials, which are increasing product costs. QCOM is responding with a price hike. However, it has existing contracts with customers that have fixed prices; hence, it will take several quarters to get margin gains from those price increases.
Qualcomm is also dealing with a weaker mix within the premium handset market. Several handset OEMs are responding to the higher memory costs by changing chip selections and using prior-generation premium processors. This strategy can reduce the average value of the chip mix and put additional pressure on QCT margins.
QCT handset revenues fell 20% year over year to $5.09 billion in the fiscal third quarter as major OEMs reduced purchases. The handset weakness is particularly significant because declines in this business can outweigh growth in Qualcomm's newer markets. The company is seeing a faster reduction in Apple-related revenue. The company now expects its modem share in upcoming iPhone launches to be materially below its earlier 20% assumption. It forecasts Apple product revenue to decline about 50% sequentially from September to December 2026.
Higher operating expenses are adding to the pressure on profitability. The company is investing heavily in data-center products, AI computing and software. This may bring long-term benefits but increases costs in the near term. Management expects the margins to eventually recover once the pricing actions take effect.
How Are Competitors Faring?Qualcomm faces competition from Intel Corporation (INTC - Free Report) and Advanced Micro Devices (AMD - Free Report) in the semiconductor space. At the end of the second quarter of 2026, Intel’s Non-GAAP operating income was $2.77 billion against an operating loss of $0.5 billion in the year-ago quarter, with respective margins of 17.2% and a negative 3.9%. This is primarily backed by strong demand in several segments and cost discipline initiatives. In the second quarter of fiscal 2026, Client Computing and Physical AI Group revenues rose 15% sequentially to $8.9 billion, with AI PC revenues rising 26% sequentially and representing about two-thirds of segment revenues. In the second quarter of fiscal 2026, Data Center and AI revenues increased 24% sequentially and 59% year over year to $6.3 billion, while operating income rose by $1 billion sequentially to $2.5 billion.
AMD’s Operating income jumped 245% to $3.09 billion, while operating margin widened 15 percentage points to 27%. Data Center operating income was $2.1 billion compared with a loss of $155 million in the year-ago quarter, translating into a 31% operating margin. Client and Gaming segment operating income declined 24% year over year to $582 million as higher expenses more than offset the revenue increase. Embedded operating income increased 40% year over year to $386 million. Operating margin improved to 40% from 33%, aided by higher sales and a favorable product mix. Management said embedded x86 products are becoming a meaningful growth driver as hyperscalers and networking customers adopt AMD CPUs for data center control functions.
QCOM’s Price Performance, Valuation and EstimatesQualcomm shares have gained 11.9% over the past year compared with the industry’s growth of 26.5%.
Image Source: Zacks Investment Research
Going by the price/earnings ratio, the company's shares currently trade at 18.35 forward earnings, higher than 12.73 for the industry.
Image Source: Zacks Investment Research
Earnings estimates for fiscal 2026 and 2027 have decreased over the past 60 days.
Image Source: Zacks Investment Research
Qualcomm currently has a Zacks Rank #5 (Strong Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Qualcomm má stále nízké ocenění s P/E 21,74 a sází na růst v AI datových centrech po dohodě s Amazon Web Services. Rizikem je přechod Apple na vlastní modemy, který může ukrojit část tržeb.
There’s a certain irony in a stock that has just rallied hard still being written off, yet that's exactly where chipmaker Qualcomm Inc. NASDAQ: QCOM finds itself right now. After a brutal 44% slide through much of the summer, its shares staged an impressive comeback, climbing around 30% since the start of August.
Qualcomm Today
$187.84 +0.04 (+0.02%)
As of 01:31 PM Eastern
This is a fair market value price provided by Massive. Learn more.
$121.99▼
$259.921.96%
21.74
$204.10
They’re currently trading around $187, having recovered much, but not all, of the ground lost in that punishing sell-off.
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For all that, the stock still trades at a valuation that looks remarkably cheap for a company at the heart of the technology boom. In addition, even the more cautious voices on Wall Street seem to think Qualcomm’s shares are worth more than what they currently trade for.
The question, then, is whether shares look cheap for a reason. As has so often been the case with Qualcomm, the answer depends on how much faith you place in the company’s ability to reinvent itself.
A Valuation That's Hard to IgnoreStarting with the numbers, it’s easy to see why the bulls might feel Qualcomm is trading at a discount right now. With a price-to-earnings (P/E) ratio of just 22, it’s well below NVIDIA Corp’s NASDAQ: NVDA 27, Broadcom Inc’s NASDAQ: AVGO 44, and Advanced Micro Devices Inc’s NASDAQ: AMD 134.
It’s also below its own 34 P/E ratio from the end of last year, despite the company making real progress on many fronts in the meantime. The bulls argue that the market is still valuing Qualcomm as little more than a maker of smartphone chips, a mature, slow-growing business, while assigning almost no value to its ambitions in far racier corners of the industry. If those ambitions bear fruit, the reasoning goes, today's price will look like a bargain.
Several analysts share this view, with Rosenblatt Securities, for example, recently reiterating its Buy rating on Qualcomm shares and a $235 price target that points to around 20% upside.
How Qualcomm Could Reinvent ItselfThe bull case centers on diversification: Qualcomm can grow beyond its reliance on smartphones and into faster-growing markets. The most eye-catching prize is a foothold in the AI data center, where last week’s news of a deal with Amazon Web Services is just the latest sign of progress in what could be a lucrative, new revenue stream.
Beyond that, the company has been building its presence in cars and connected devices, markets with long product cycles and plenty of room to grow. As vehicles become computers on wheels and everyday objects gain intelligence, Qualcomm's expertise in low-power, connected computing gives it a credible shot at a much broader business.
Tying it together is the rise of on-device AI. Qualcomm's chips are well-suited to running AI directly on phones, cars, and industrial gear, rather than in some distant data center. If that becomes the battleground many expect, the company could command more valuable chip content in every device.
The Catch Behind the DiscountSet against that promise are real risks, which is why the stock isn't valued more richly. The biggest is Apple Inc. NASDAQ: AAPL, one of Qualcomm's most important customers, which is busy moving the development of its own modem chips in-house. That’s set to strip away a major chunk of Qualcomm's revenue in the coming years, and may do so before its newer businesses are big enough to fill the gap.
The near-term picture is hardly rosy either. Qualcomm remains heavily exposed to the sluggish Android phone market, particularly in a weak China, while rival MediaTek OTCMKTS: MDTKF is pushing hard into the premium handset space that has traditionally been Qualcomm's bread and butter. In other words, a hoped-for recovery in phone-related revenue is far from guaranteed.
A Bargain Worth the Wait?On the one hand, Qualcomm clearly offers a tempting proposition for any investor with patience and a long enough time horizon. A low valuation, a growing foothold in AI data centers, and expanding beyond handsets all give it a credible path to shedding its image as a mere phone-chip supplier. On that view, the market may be too fixated on the risks and too dismissive of the opportunity.
Current Price$189.44High Forecast$400.00Average Forecast$204.10Low Forecast$120.00Qualcomm Stock Forecast Details
The catch, and it’s a significant one, is timing. The bull case rests entirely on Qualcomm's newer ventures scaling up fast enough to outrun the looming loss of Apple's business.
Until there is hard evidence that they can, a degree of caution is understandable. The stock's MarketBeat consensus rating of Hold captures that balance.
Still, the recent rally shows the market is warming to the story, and even cautious analysts point to upside, so the shares hardly look expensive.
For those willing to back the reinvention and wait, Qualcomm may prove one of the more rewarding bets in the chip sector.
Should You Invest $1,000 in Qualcomm Right Now?Before you consider Qualcomm, you'll want to hear this.
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Purchase-linked warrants align incentives, but the enormous ceiling is neither an order nor recognized revenue. Summary
Amazon validates Qualcomm’s data-center push without guaranteeing its commercial scale.
Qualcomm QCOM, the wireless and computing-chip designer, tied a potentially massive Amazon AI-chip opportunity to an equity sweetener, Reuters reported. Shares climbed approximately 0.75% to $189.19 Wednesday morning. That puts Qualcomm above its GuruFocus GF Value estimate of $175.78, with the stock trading at a 7.63% premium to that benchmark.
Amazon could purchase as much as $60 billion of Qualcomm AI data-center products under the long-term framework. The companies plan to work together on customized inference chips and optical connectivity capable of reaching 1.6 terabits per second. Purchase-linked warrants could also give Amazon roughly $4 billion of Qualcomm equity at an exercise price of $161.26 per share, giving the cloud giant a direct financial incentive to expand its use of Qualcomm hardware.
That incentive is meaningful: the warrant value represents roughly 6.7% of the framework's maximum potential purchases. But the headline number is not the same as guaranteed revenue. Neither company disclosed a minimum purchasing commitment, a firm delivery schedule or the margins Qualcomm could earn. The picture reinforces that valuation tension—the shares already sit 7.63% above GF Value. Qualcomm has landed a powerful validation of its push beyond smartphones; now actual Amazon orders need to turn that promise into earnings.
Disclosures I/we have no positions in any stocks mentioned, and have no plans to buy any new positions in the stocks mentioned within the next 72 hours.
Qualcomm oznámil, že tržby z automotive dosáhly ve čtvrtletí 1,59 miliardy USD, meziročně vzrostly o 61 %. Vedení navíc zvýšilo cílový roční běh automotive na zhruba 7 miliard USD.
Qualcomm's automotive and data center businesses are quietly rewriting the company's story while everyone debates the Apple modem loss, and that tension is exactly why the buy button keeps getting hit.
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I keep hitting the buy button on Qualcomm (NASDAQ:QCOM | QCOM Price Prediction), and the Amazon warrant deal announced September 8 only gave me another reason to keep going. My conviction started well before the hyperscaler headlines. What pulls me back is a chip company that stopped being a smartphone story and started becoming an automotive, industrial, and data center story while quietly returning cash at a pace that rewards patience.
Why the Buy Button Stays Active Start with the trajectory nobody talks about at dinner parties. Automotive revenue reached $1.59 billion in the quarter, up 61% year over year, marking 23 consecutive quarters of double-digit YoY growth. Combined automotive and IoT climbed 28% YoY. Management raised its exiting fiscal 2026 automotive annualized run-rate to approximately $7 billion, up from a prior $6 billion target, on the strength of an expanded BMW agreement extending well into the next decade and a Stellantis pipeline stretching into the 2030s.
Then the data center. CEO Cristiano Amon told investors non-handset revenue should reach $40 billion by fiscal 2029, nearly double the target shared in November 2024, with growth accelerating from 24% in fiscal 2026 to greater than 60% in fiscal 2027. Two hyperscaler custom-silicon engagements have purchase orders in hand, wafer production underway, and revenue starting in the December quarter. Data center revenue is guided to $5 billion in fiscal 2027 and $15 billion in fiscal 2029.
Capital return is the third leg I keep leaning on. Full fiscal 2025 free cash flow reached $12.82 billion, up 14.86% YoY, and the company sent $12.60 billion back to shareholders through dividends and buybacks. Q3 FY26 alone included a $0.92 dividend and $1.4 billion in repurchases. The current yield sits at 1.98% with a free cash flow yield of 6.66%, and I own it at a P/E of 35 that compresses fast against forward EPS estimates near $10.4827 for the fiscal year ending September 2026.
Why Not the Obvious Alternative The name a reader might reach for first here is Apple (NASDAQ:AAPL), Qualcomm’s largest premium handset customer and the very company vertically integrating away from Qualcomm modems. That is precisely why I keep buying Qualcomm instead. The company disclosed that total QCT non-Apple fiscal 2025 revenues grew 18% YoY. Management now expects fiscal 2027 non-handset growth to replace total Apple product revenues in fiscal 2026. Buying Apple to get the modem story means paying for the customer who is walking. Buying Qualcomm means owning the supplier already engineering around that departure.
Risk I Refuse to Wave Away Handset revenue fell 20% YoY to $5.09 billion in Q3, and management pegged the EPS impact at greater than $1.50. Apple share for the upcoming iPhone will be materially lower than the prior 20% estimate, with roughly a 50% decline in Apple revenue from the September quarter to the December quarter. That is real. What settles me is that Qualcomm is pricing through the cost pressure with double-digit increases and guiding the baseline back to a 48% to 50% gross margin range while non-handset businesses inflect.
What Keeps Me Buying From Here I own a chipmaker at a fair multiple that pays me to wait, generates 6.66% free cash flow yield, prints 23.34% ROE, and just signed a multi-generational data center collaboration with Amazon on top of an automotive book stretching into the 2030s. The Amazon and Meta headlines are the catalyst other people needed (the same AI buildout is why we pulled together seven non-chipmaker suppliers powering the data centers in a free report). My conviction was built on the boring parts, and the boring parts keep printing.
Contact [email protected] for any questions or corrections.
This quarter’s Qualcomm (NASDAQ: QCOM) dividend will be payable on September 24, 2026, to stockholders of record at the close of business on September 3, 2026.
The technology company will issue a cash dividend of $0.92 per common share, marking no change from the previous quarter’s payout distributed on June 25, 2026.
Accordingly, investors holding 100 QCOM shares will once again receive $92 in quarterly dividends next week. To round the quarterly dividend up to $100, investors must hold 109 QCOM shares – an investment worth $18,372 based on the September 3 closing price of $168.57.
QCOM stock dividend schedule. Source: Qualcomm Combined with the past two quarterly payments, the total yearly payout in 2026 will sit at $2.73 per share on Septemner 24. In other words, 100 QCOM shares will have generated $273 in cash dividends over three quarters.
If the payout remains unchanged before the end of the year, the same investment will have earned $365 by the end of 2026. That is precisely $1 a day in passive income over the span of a year.
Qualcomm dividend overview Qualcomm’s dividend yield currently stands at 2.0%, above the technology sector’s average yield of 1.37%. Moreover, the company has maintained a quarterly dividend schedule and recorded 24 consecutive years of dividend increases. This suggests long-term commitment to shareholder returns.
Qualcomm stock dividend history. Source: Dividendmax The stock’s dividend yield has ranged from 1.5% to 4.0% over the past 52 weeks, reaching its high on March 3, 2026, and its low on June 4, 2026.
Meanwhile, Qualcomm’s forward payout ratio stands at 36.20%, suggesting that the company distributes a relatively modest portion of its expected earnings through dividends. Likewise, Qualcomm’s average price recovery period following a dividend payment is 8.2 days.
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Qualcomm ztrácí modemový byznys Applu, který nahrazuje vlastními čipy. Amazon mu ale může přinést až 60 miliard USD v nové spolupráci na AI datových centrech.
Qualcomm is watching Apple walk out the door with its modem business, but a surprise Amazon partnership promises a $60 billion lifeline built on unproven silicon in a market already owned by rivals. Whether that door holds the weight is…
Apple (NASDAQ:AAPL | AAPL Price Prediction) is replacing Qualcomm (NASDAQ:QCOM) modems with in-house silicon, threatening one of Qualcomm’s most valuable franchises. On the fiscal third-quarter call, management said its share of upcoming iPhone launches would be “materially lower” than the prior 20% estimate, with Apple product revenue expected to fall roughly 50% from the September-to-December quarter.
Into that gap walks Amazon (NASDAQ:AMZN). Qualcomm announced a multi-generational product collaboration with Amazon on September 8, 2026, to build next-generation AI data center infrastructure, and warrants issued to Amazon could be worth about $4 billion if commercial milestones are reached. That number is a performance-contingent ceiling, distinct from cash paid or revenue booked. Qualcomm trades near $176.40 with a market capitalization around $188.4 billion, and the question is whether this second door is load-bearing.
What Qualcomm Is Selling Qualcomm is entering the data center with inference-oriented custom silicon, high-bandwidth compute AI accelerators, CPUs, and optical connectivity, not training accelerators competing head-on with NVIDIA. Inference runs trained models in production, a different competition from training, with different buying criteria and margins.
CEO Cristiano Amon said on the Q3 call that Qualcomm has two custom silicon engagements with “global scale hyperscalers,” both with purchase orders in hand and wafer production started. Initial Amazon-related revenue is expected in the December quarter, and Qualcomm targets $5 billion in data center revenue in fiscal 2027, scaling to $15 billion by fiscal 2029.
The broader diversification target is $40 billion in non-handset revenue by fiscal 2029, with growth accelerating from 24% in fiscal 2026 to greater than 60% in fiscal 2027. Management expects that fiscal 2027 non-handset growth will “replace the entire Apple product revenue within the year.”
Margins, Competitors, and the Warrant Overhang The catch is mix. Amon told analysts the initial data center ramp will be “significantly lower” margin than baseline, trimming QCT weighted-average gross margin by 1.5 to 2%. Qualcomm’s consolidated gross margin sits near 55.4% today.
Competition is dense. NVIDIA dominates training, Broadcom and Marvell already ship custom ASICs and optics to hyperscalers at volume, and AMD is scaling MI-series accelerators. Qualcomm’s differentiators are power efficiency inherited from mobile, an open software stack anchored by the completed Modular acquisition, and Alphawave-derived SerDes IP for connectivity.
The warrants dilute existing holders only if Amazon hits milestones, meaning Amazon holds the optionality while Qualcomm carries execution risk. Analyst estimate revisions tell the near-term story: 27 downward EPS revisions for fiscal 2027 against three upward in the trailing 30 days.
Is QCOM Stock a Buy? QCOM is up 13.52% over one year and trades at a forward P/E of 17x, with an analyst target of $193.90. The Amazon headline is real, but the revenue is not yet booked, and margins on that revenue will compress the mix.
Against Broadcom (NASDAQ:AVGO) and Marvell (NASDAQ:MRVL), Qualcomm is arriving late, with silicon customers still wanting to see it in production. Automotive gives real ballast, with 61% year-over-year growth and an updated $7 billion exit-run rate.
The setup looks balanced. The Apple runoff and margin compression are certain; the Amazon offset depends on milestones not yet demonstrated on silicon, and investors should watch December-quarter data center revenue, HBC Gen 1 performance data, and pricing pass-through into gross margin before paying up.
Contact [email protected] for any questions or corrections.
Qualcomm těží z rychlého růstu automotive a datových center, zatímco prodeje handsetů v Q3 klesly o 20 %. Tržby byly 9,947 miliardy USD a automotive vzrostl meziročně o 61 % na 1,588 miliardy USD.
Qualcomm's handset business is shrinking while its automotive and data center ambitions are scaling fast, and the tension between those two forces will determine whether the stock revisits its highs or stalls out entirely.
Qualcomm (NASDAQ:QCOM | QCOM Price Prediction) sits at an interesting crossroads. The handset business is under pressure, but the automotive, IoT, and data center pipeline is finally showing up in the numbers.
Our 24/7 Wall St. price target for Qualcomm is $239.79, implying 35.45% upside from the current $176.88 quote. We rate the shares a buy with high conviction, 90% model confidence.
Metric Value Current Price $176.88 24/7 Wall St. Price Target $239.79 Upside 35.45% Recommendation BUY Confidence Level 90% Recent Action: Amazon Deal Reignites the AI Narrative Qualcomm has recovered smartly. Shares are up 4.93% over the past week, 9.32% over the past month, and 13.62% over the past year, though the stock still sits well below its $257.56 52-week high.
Momentum accelerated after Qualcomm issued warrants to Amazon to acquire $4 billion worth of the chipmaker’s stock as part of an AI infrastructure deal, a validation of the data center strategy.
The Q3 FY26 report showed revenue of $9.947 billion (beating consensus) and non-GAAP EPS of $2.21, a narrow miss driven by memory and wafer input costs. Automotive posted 61% year-over-year growth to $1.588 billion, its 23rd consecutive double-digit growth quarter.
Bull Case: The Case for $253+ Our bull scenario points to $252.85. The catalyst stack is compelling. CEO Cristiano Amon has committed to “more than $24 billion in revenue across automotive and IoT plus more than $15 billion in data center” by fiscal 2029, nearly doubling the prior target.
Automotive is tracking to a $7 billion annualized run rate exiting FY26, boosted by an expanded BMW ADAS win. Two hyperscaler custom-silicon programs go revenue-generating this December quarter, and management expects non-handset growth to accelerate from 24% in fiscal 2026 to greater than 60% in fiscal 2027.
Layer in the Amazon warrant deal and the Modular acquisition, and the multi-year story becomes hard to ignore.
Bear Case: The Risks Worth Watching Our bear-case path lands near $200.49. Handset revenue fell 20% in Q3, and management now expects Apple share on the upcoming iPhone launch to come in materially lower than our prior estimate of 20%, with roughly a 50% decline in Apple revenue from September to December quarter. Memory and wafer inflation compressed operating income by 41.13% year over year.
Bulls fairly counter that pricing actions are already in motion and management expects gross margins to realign to the 48% to 50% range once absorbed, and that fiscal 2027 non-handset growth is expected to replace the entire Apple product revenue within the year.
How Qualcomm Compares to Broadcom and Texas Instruments Broadcom (NASDAQ:AVGO) is the aspirational AI-infrastructure benchmark. Broadcom posted $29.591 billion in Q3 FY26 revenue with AI semiconductor sales of $16.7 billion, up 221% year over year, and carries a $1.72 trillion market cap versus Qualcomm’s $188.9 billion.
AVGO shows what happens when hyperscaler custom silicon scales. Qualcomm is entering that same lane at a fraction of the valuation, making our target look conservative if execution follows.
Texas Instruments (NASDAQ:TXN) is the diversified analog and embedded counterweight. TXN grew Q2 2026 revenue 22.82% to $5.463 billion on industrial and automotive strength, at a $236 billion market cap.
TXN validates the automotive and industrial demand thesis Qualcomm is riding, while trading at a richer multiple. QCOM’s trailing P/E of 34 is not cheap, but relative to peers with similar end markets, the setup for multiple expansion is reasonable.
Qualcomm Price Prediction 2026-2030 Our 24/7 Wall St. price target is $239.79, a buy with 90% confidence. The tipping factor is the confirmed inflection in non-handset revenue and the Amazon-validated data center push.
I would be a buyer here if you believe Amon can execute on the $40 billion non-handset target by FY29. I would stay on the sidelines if you think memory-cost pressure and Apple modem attrition will overwhelm the transition through calendar 2027.
Looking further ahead, here is where our model projects Qualcomm could trade, assuming current growth trajectories hold.
Year 24/7 Wall St. Price Target 2026 $187.31 2027 $254.98 2028 $312.49 2029 $350.22 2030 $387.58 These projections assume Qualcomm continues executing on its diversification strategy. Significant upside or downside could result from the pace of data center revenue scaling and the trajectory of premium handset demand (the same power, cooling, and networking suppliers behind that buildout are the subject of a free report we put together here: 7 stocks powering the AI boom that aren’t chipmakers).
Contact [email protected] for any questions or corrections.
Qualcomm oznámil, že Amazon může v příštích deseti letech koupit serverové čipy a související technologie až za 60 miliard USD. Akcie Qualcommu po zprávě vzrostly o 3 %.
Qualcomm (QCOM +0.27%) said on Tuesday that Amazon (AMZN -0.20%) could buy up to $60 billion of its server chips and related technology over the next decade. The two companies plan to co-develop multiple generations of customized silicon for Amazon Web Services' data centers, starting with chips built for AI (artificial intelligence) inference (the day-to-day work of running already-trained AI models). Shares of the chipmaker rose 3% on the announcement.
But Qualcomm has been here before. In November 2017, the company announced commercial shipment of its Centriq 2400, billed as the world's first 10-nanometer server processor.
Within six months, Bloomberg reported that the company was preparing to give up on the business. By the end of 2018, Qualcomm was cutting the data center group from a peak of more than 1,000 people to about 50.
What has to be different this time?
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Centriq never found a committed buyerThe 2017 failure wasn't a story of weak engineering or half-hearted effort. Qualcomm's data center chief at the time, Anand Chandrasekher, called the launch "the culmination of more than four years of intense design, development and ecosystem enablement effort."
The 48-core version of the chip listed at $1,995, and Qualcomm claimed more than 4 times the performance per dollar of Intel's highest-end server processor. Microsoft and other cloud providers demonstrated workloads on it at the launch event.
What no one did was commit to buying it in volume. Demonstrations never became the kind of orders a company can build a business on.
By May 2018, Bloomberg was reporting that Qualcomm was exploring a shutdown or a sale of the unit, part of a push to cut $1 billion in annual costs.
And Amazon, notably, chose to build rather than buy. It introduced its own Arm-based Graviton server processors in November 2018, just weeks before Qualcomm's retreat became official.
Amazon's commitment is in writingThe new agreement addresses that failure directly. As part of the deal, Qualcomm issued Amazon warrants to buy 25 million of its shares at $161.26 apiece. According to the company's filing, those shares vest in tranches tied to the execution of commercial agreements, the placement of binding purchase orders, and actual purchases of Qualcomm's server chips, systems, and services. The payments that count toward vesting are capped at $60 billion through 2036.
In other words, Amazon gets the full value of its warrants only if it buys. That structure, I'd argue, is the single biggest difference from 2017.
And some buying is already locked in. Of the 25 million warrant shares, 3.75 million vested immediately, based on what the filing calls initial purchase commitments.
To be fair, the $60 billion is a ceiling on what counts toward vesting, not a promised spend. But Centriq died without a committed dollar. This attempt starts with purchase commitments already made -- and a partner that profits by spending more.
This time, the roadmap is the strategyThe other thing Centriq lacked was a parent willing to fund it through the slow years. The 2018 exit was a cost cut as much as a verdict on the product. Today, the data center business sits at the center of Qualcomm's plans.
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Meta Platforms agreed in June to use the company's data center processors across multiple generations, starting with the Dragonfly C1000, expected in 2028. Management targets more than $15 billion in data center revenue by fiscal 2029, and CEO Cristiano Amon expects non-handset revenue growth to accelerate from 24% in fiscal 2026 to more than 60% in fiscal 2027 -- a sharp acceleration, if it lands.
Qualcomm likely needs it to land. In the fiscal third quarter of 2026 (the period ended June 28, 2026), handset chip revenue fell 20% year over year to $5.1 billion, and total revenue slipped 4% to $9.9 billion. Automotive revenue rose 61% year over year, and internet of things revenue grew 9%. But the two combined remain smaller than the handset business they are meant to offset.
Ultimately, this attempt has the committed anchor customer the first one never found, and a roadmap the company is funding as its main growth bet. What the terms can't settle is execution. The $60 billion is a cap, not a guarantee, and the revenue ramp isn't expected before fiscal 2027.
Shares trade around $176 as of this writing, or about 17 times the earnings analysts expect for next fiscal year -- hardly a price with data center success already baked in. Still, I'd stay on the sidelines for now. I want to see those purchase orders show up as revenue first.
Baird Financial Group ve 2. čtvrtletí snížila podíl v Qualcomm o 32 % a prodala 211 990 akcií. Po prodeji držela 450 924 akcií v hodnotě 83,326 milionu USD.
Baird Financial Group Inc. lessened its position in shares of Qualcomm Incorporated (NASDAQ:QCOM – Free Report) by 32.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 450,924 shares of the wireless technology company’s stock after selling 211,990 shares during the period. Baird Financial Group Inc.’s holdings in Qualcomm were worth $83,326,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of QCOM. California State Teachers Retirement System grew its holdings in shares of Qualcomm by 18,251.8% during the second quarter. California State Teachers Retirement System now owns 301,278,659 shares of the wireless technology company’s stock worth $55,673,283,000 after buying an additional 299,636,973 shares in the last quarter. BlackRock Inc. bought a new stake in Qualcomm in the 2nd quarter valued at approximately $17,583,115,000. Geode Capital Management LLC lifted its stake in Qualcomm by 12.5% in the 4th quarter. Geode Capital Management LLC now owns 28,897,079 shares of the wireless technology company’s stock valued at $4,931,968,000 after acquiring an additional 3,221,924 shares in the last quarter. Van ECK Associates Corp boosted its position in Qualcomm by 22.7% during the 2nd quarter. Van ECK Associates Corp now owns 17,202,619 shares of the wireless technology company’s stock worth $3,178,872,000 after acquiring an additional 3,179,720 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in Qualcomm by 34.5% during the 4th quarter. Wellington Management Group LLP now owns 16,727,862 shares of the wireless technology company’s stock worth $2,861,301,000 after acquiring an additional 4,290,622 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors.
Qualcomm Trading Up 1.3% Shares of QCOM stock opened at $176.40 on Thursday. Qualcomm Incorporated has a 12-month low of $121.99 and a 12-month high of $259.92. The company has a market capitalization of $185.26 billion, a PE ratio of 20.42, a price-to-earnings-growth ratio of 3.63 and a beta of 1.68. The firm has a 50 day moving average price of $168.32 and a two-hundred day moving average price of $170.51. The company has a quick ratio of 1.28, a current ratio of 2.02 and a debt-to-equity ratio of 0.46.
Qualcomm (NASDAQ:QCOM – Get Free Report) last posted its earnings results on Wednesday, July 29th. The wireless technology company reported $2.21 EPS for the quarter, missing the consensus estimate of $2.23 by ($0.02). The firm had revenue of $9.95 billion during the quarter, compared to analyst estimates of $9.69 billion. Qualcomm had a net margin of 21.01% and a return on equity of 38.36%. Qualcomm’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.77 EPS. Qualcomm has set its Q4 2026 guidance at 2.050-2.250 EPS. As a group, analysts predict that Qualcomm Incorporated will post 7.74 earnings per share for the current year. Qualcomm Announces Dividend The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 3rd will be issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Thursday, September 3rd. Qualcomm’s dividend payout ratio is currently 42.59%.
Wall Street Analysts Forecast Growth Several brokerages recently commented on QCOM. Morgan Stanley reduced their target price on shares of Qualcomm from $231.00 to $220.00 and set an “equal weight” rating for the company in a report on Thursday, July 30th. Cantor Fitzgerald lowered their price target on shares of Qualcomm from $200.00 to $165.00 and set a “neutral” rating on the stock in a research note on Monday, July 27th. Freedom Capital raised shares of Qualcomm from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 7th. Sanford C. Bernstein restated a “market perform” rating on shares of Qualcomm in a research note on Wednesday. Finally, Guggenheim set a $200.00 price objective on Qualcomm in a report on Monday, June 22nd. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, twenty-two have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $204.10.
View Our Latest Stock Analysis on Qualcomm
Insiders Place Their Bets In other news, EVP Akash Palkhiwala sold 2,500 shares of Qualcomm stock in a transaction on Tuesday, July 14th. The stock was sold at an average price of $180.81, for a total transaction of $452,025.00. Following the completion of the sale, the executive vice president owned 23,184 shares of the company’s stock, valued at approximately $4,191,899.04. This trade represents a 9.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Patricia Grech sold 625 shares of the business’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $162.85, for a total transaction of $101,781.25. Following the completion of the sale, the chief accounting officer directly owned 208 shares of the company’s stock, valued at approximately $33,872.80. The trade was a 75.03% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 9,033 shares of company stock worth $1,467,844 in the last 90 days. Company insiders own 0.05% of the company’s stock.
Key Headlines Impacting Qualcomm Here are the key news stories impacting Qualcomm this week:
Positive Sentiment: Amazon deal creates a long-term growth catalyst: Qualcomm will develop multiple generations of custom AI data-center chips and optical networking products for Amazon Web Services. The agreement could generate as much as $60 billion in purchases through 2036, giving Qualcomm a marquee hyperscale customer and validating its data-center strategy. Qualcomm’s Data Center Bet Looks More Real After Amazon’s AI Deal Positive Sentiment: Amazon has a financial stake in execution: Amazon received warrants to purchase up to 25 million QCOM shares at $161.26 each. Most warrants vest as AWS reaches purchasing milestones, linking Amazon’s potential ownership to actual demand for Qualcomm’s products. Positive Sentiment: Expansion goes beyond processors: Qualcomm will supply optical connectivity technology capable of supporting high-bandwidth data-center interconnects. The combination of custom inference silicon and networking products could increase Qualcomm’s role in Amazon’s AI infrastructure and support its target of $15 billion in annual data-center revenue by fiscal 2029. Qualcomm Announces Multi-Generational Product Collaboration with Amazon Positive Sentiment: Analyst support reinforces the move: Rosenblatt Securities reaffirmed its buy rating and set a $235 price target. Commentators said the Amazon relationship gives the previously range-bound stock a clearer growth narrative, while some investors believe QCOM’s valuation remains below that of other custom data-center chip suppliers. Neutral Sentiment: Revenue benefits are several quarters away: Qualcomm says the jointly developed processors are already in production, with initial revenue expected in fiscal first-quarter 2027. Investors will likely focus on shipment timing, AWS adoption and subsequent purchasing milestones. Negative Sentiment: Execution and dilution remain risks: The $60 billion purchasing potential spans a decade and is not guaranteed. Full vesting of the warrants could dilute existing shareholders by roughly 2.2%. Qualcomm also recently reported declining year-over-year revenue and a drop in handset processor sales, leaving the company exposed if data-center growth takes longer than expected. Qualcomm Company Profile (Free Report)
Qualcomm Incorporated (NASDAQ: QCOM) is a technology company that develops wireless communications technologies, semiconductors and related intellectual property. Headquartered in San Diego, California, the company serves customers and partners worldwide across the mobile, automotive, consumer electronics and industrial markets.
Through its Qualcomm CDMA Technologies (QCT) business, Qualcomm designs and supplies integrated circuits, system software and hardware platforms. Its products include Snapdragon mobile platforms, 5G and other wireless modems, radio-frequency components, connectivity solutions, processors and artificial intelligence technologies.
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Akcie Qualcomm vzrostly až o 8,7 % poté, co firma oznámila partnerství s Amazonem na vývoji vlastních AI čipů pro AWS. Amazon získal i warrant na nákup až 25 milionů akcií Qualcommu za realizační cenu 161,26 USD za akcii.
Shares of Qualcomm (QCOM +3.17%) rose as much as 8.7% on Tuesday after the semiconductor designer struck a potentially highly lucrative partnership with Amazon (AMZN -0.60%).
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Accelerating the AI boom Qualcomm will help Amazon develop custom artificial intelligence (AI) chips to power its industry-leading cloud computing business.
Amazon Web Services (AWS) will also deploy Qualcomm's advanced optical connectivity solutions to speed up data transfers across Amazon's sprawling data center network.
The shift from AI model training to inference -- using trained models to make predictions -- is creating an even greater need for power-efficient computing infrastructure.
That just happens to be Qualcomm's specialty.
The semiconductor designer has built expertise in energy-efficient processors over nearly two decades of developing high-performance, low-power chips for the smartphone market.
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As part of the deal, Amazon obtained a warrant to buy up to 25 million shares of Qualcomm's stock at an exercise price of $161.26 per share. The warrant vests in stages based on up to $60 billion in chip orders and related purchases. It expires on Sept. 3, 2036.
A strong vote of confidence for Qualcomm's AI chips The global smartphone industry's slowing growth has prompted Qualcomm to seek greener pastures -- and there aren't many greener than the AI data center build-out race.
Earning Amazon's stamp of approval could provide a powerful boost to Qualcomm's AI customer acquisition efforts.
Joe Tenebruso has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Amazon and Qualcomm. The Motley Fool has a disclosure policy.
Akcie Qualcommu za tři měsíce odepsaly 30,13 % a po slabších výsledcích čelí tlaku na marže i odhady zisku. Baird přesto vidí cílovou cenu 400 USD, tedy asi 137 % nad současnou cenou.
Qualcomm has lost nearly a third of its value while its semiconductor peers surged, leaving one Wall Street analyst staking a reputation on a price target that towers over every other major forecast in the group.
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Qualcomm (NASDAQ:QCOM | QCOM Price Prediction) currently trades at $168.57 against an average Wall Street price target of $193.10, an implied gap of roughly 14.6%. That consensus figure hides an outlier bull call from Baird analyst Tristan Gerra, whose $400 price target sits roughly 137% above the current quote.
Qualcomm is the world’s dominant smartphone modem and SoC designer, but Wall Street’s real focus now is the company’s push into automotive silicon and AI data-center compute. The dislocation matters because QCOM has been one of the ugliest large-cap semiconductor charts of the summer, even as most peers ride the AI infrastructure wave.
A 30% Drawdown While Chip Land Kept Ripping QCOM has shed 30.13% over the past three months, falling from $241.25 to $168.57. The trigger was July’s fiscal Q3 earnings report. Revenue of $9.95 billion beat, but non-GAAP EPS of $2.21 missed the $2.22 estimate and snapped a six-quarter beat streak. Handset revenue fell 20% year over year, operating income dropped 41.1%, and management flagged unprecedented memory and wafer costs squeezing margins.
The overhang worsened when Qualcomm signaled Apple product revenue would fall roughly 50% sequentially into the December quarter, with fiscal 2027 Apple revenue landing below the prior “little over $2 billion” guide. Estimate revisions turned brutal: 26 downward EPS revisions in the trailing 30 days for fiscal 2026 versus one upward.
The move was company-specific. While QCOM cratered, Micron (NASDAQ:MU) has run 235.71% year to date. This was a QCOM-specific move.
Baird’s $400 Bull Case Bets on a Business-Model Re-Rate Baird’s Tristan Gerra treats the drawdown as a chance to buy Qualcomm’s diversification story on sale. The $400 Street-high target assumes Qualcomm’s custom Oryon-based server processors capture share in AI data-center CPUs. That thesis got real air cover on the last call: CEO Cristiano Amon disclosed two hyperscaler custom silicon engagements with wafer production underway and revenue starting in the December quarter.
The second leg is diversification away from Apple. Management now targets $40 billion in non-handset revenue by fiscal 2029, nearly double the November 2024 goal, with non-handset growth accelerating from 24% in fiscal 2026 to greater than 60% in fiscal 2027. Automotive already grew 61% year over year on a new multi-generation BMW ADAS win. The third pillar is on-device AI monetization across Snapdragon X Elite Copilot+ PCs and premium smartphones, which Baird believes lifts blended ASPs as double-digit pricing actions phase in.
Consensus is nowhere near Baird. Of the 37 analysts covering QCOM, 2 rate it Strong Buy, 9 Buy, 23 Hold, 1 Sell, and 2 Strong Sell. Recent revisions skew negative. Baird is the outlier, and the $400 target implies a roughly 137% return that no other major shop underwrites.
Peers Ripped Higher While QCOM Sat Out Broadcom (NASDAQ:AVGO) trades at $357.16 against a $525.97 average target, roughly 47% upside. It slipped 14.59% over the past month on AI-spend jitters, but 44 of 48 analysts rate it Buy or Strong Buy.
Marvell Technology (NASDAQ:MRVL) trades at $208.83 against a $284.80 target for roughly 36% upside; the stock is up 145.74% YTD on custom-silicon momentum, with 39 of 44 analysts at Buy or Strong Buy.
Micron sits at $958.16 versus a $1,513.11 target, roughly 58% implied upside, with 44 of 48 ratings at Buy or Strong Buy after fiscal Q3 revenue rose 345.7%. Baird’s $400 QCOM call is the highest single-analyst upside in the group. On consensus, Micron carries the largest implied return, followed by AVGO, then MRVL. QCOM’s 14.6% consensus upside is the smallest, meaning the crowd is treating this dislocation with real skepticism.
Numbers Behind the QCOM Dislocation Currently, QCOM trades at $168.57 with an average target of $193.10 across 37 covering analysts, implying roughly 14.6% upside. The stock is essentially flat YTD at +0.11% versus the S&P 500’s +13.38%, and the three-month drawdown of 30.13% stands against a 52-week range of $120.88 to $257.56.
Analyst posture skews cautious: 2 Strong Buy, 9 Buy, 23 Hold, 1 Sell, 2 Strong Sell. Forward EPS estimates tell the same story. Fiscal 2026 consensus has been trimmed to $10.52 from $10.81 a month ago. QCOM trades at roughly 16x forward earnings, well below the diversified-semi peer group. Analyst targets are one data point among many, and this group’s targets have been late to move in both directions this cycle.
My Real Take on QCOM at $168 Qualcomm looks compelling here if you believe the two hyperscaler custom silicon engagements ramp on schedule and data center scales toward management’s $15 billion fiscal 2029 target. In that world, the Apple headwind gets absorbed, non-handset growth compounds above 60%, pricing actions restore 48% to 50% gross margins, and the multiple re-rates. That path narrows the gap to Baird’s $400 meaningfully, even if it does not close it.
The bear case holds if handset revenue keeps bleeding, Apple accelerates its modem transition, memory costs stay elevated, and the hyperscaler engagements slip. In that scenario, QCOM is a value trap with a decent 7.12% FCF yield but no re-rating catalyst.
I lean cautiously long. The consensus $193 target is achievable without hero assumptions, and a mid-teens forward multiple for a business with $40 billion of non-handset revenue in the pipeline offers real optionality on Baird’s upside case.
Contact [email protected] for any questions or corrections.
Qualcomm plánuje v Japonsku otevřít Robotics Center pro rozvoj robotiky, fyzické AI a spolupráci s ekosystémem. Cílem je posílit expanzi mimo chytré telefony.
Key Takeaways Qualcomm plans a Japan Robotics Center to advance robotics, physical AI and ecosystem collaboration.QCOM's Snapdragon, automotive and AI expansion supports diversification beyond the smartphone market.Qualcomm faces margin pressure, falling estimates and revenue risks from Apple's in-house modem shift. Qualcomm Incorporated (QCOM - Free Report) is expanding its presence in Japan’s robotics and physical AI market through a new long-term investment initiative aimed at accelerating innovation, commercialization and global expansion.
As part of the initiative, the company plans to establish the Qualcomm Japan Robotics Center, which will support collaborative research, development and ecosystem engagement with startups, academic institutions and industry participants. The initiative is also expected to provide developers and robotics companies with access to Qualcomm’s products, technical expertise and enablement resources. In addition, the company plans to support flagship physical AI projects that demonstrate the potential of advanced robotics and intelligent automation.
The initiative should strengthen Qualcomm’s position in the fast-growing robotics, edge AI and industrial automation markets. Increased adoption of intelligent robotics could also drive demand for the company’s computing and AI platforms, supporting its diversification beyond the smartphone market over the long term.
Snapdragon, AI & Automotive: QCOM’s Key Growth DriversQualcomm envisions solid growth opportunities within the mobile space, driven by the strength of its Snapdragon portfolio. Leveraging processors with multi-core CPUs with cutting-edge features, amazing graphics and worldwide network connectivity, Qualcomm Snapdragon mobile platforms are fast with superb power efficiency, brilliant camera capabilities and state-of-the-art security solutions. Smartphones and mobile devices built with Snapdragon mobile platforms enable immersive augmented reality and virtual reality experiences, brilliant camera capabilities, superior 4G LTE and 5G connectivity, and state-of-the-art security solutions.
The company is also foraying deeper into the realm of AI capabilities within the laptop and desktop business with the launch of the Snapdragon X chip for mid-range AI desktops and laptops. The strategy is aimed at moving beyond the slowing smartphone industry, which is its primary breadwinner. In addition to diversifying its revenue stream, this is likely to further extend QCOM’s AI footprint.
Qualcomm is gaining traction in the vehicle-to-everything (V2X) communication systems market with the buyout of Autotalks. With seamless access to Autotalks’ comprehensive V2X expertise, it has been able to offer an extensive suite of automotive-qualified global V2X solutions for installation in vehicles, as well as two-wheelers and roadside infrastructure. The company’s V2X chipsets offer production-ready standalone solutions that are purpose-built for global applications, resulting in direct communication becoming more pervasive.
Price PerformanceQCOM shares have gained 6.4% over the past year compared with the industry’s growth of 43.9%. It has underperformed peers like Hewlett Packard Enterprise Company (HPE - Free Report) and Broadcom Inc. (AVGO - Free Report) . While Broadcom is up 20%, Hewlett Packard has surged 123.8% over this period.
One-Year QCOM Stock Price Performance
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Waning Margins Hurt QCOMA combination of factors has led to the soft performance by the chip manufacturing firm. Qualcomm's margins have declined over the years due to high operating expenses and R&D (research & development) costs. The company expects softness in the handset market and a weaker overall mix of devices to continue in the near future. The shift in the share among original equipment manufacturers at the premium tier has reduced the near-term opportunity to sell integrated chipsets from the Snapdragon platform.
In addition, Qualcomm faces stiff competitive pressures from rivals Broadcom and Hewlett Packard. Aggressive competition from low-cost chip manufacturers and established players in the mobile phone chipset market is also likely to hurt Qualcomm's profits. Although the global smartphone market is expected to maintain its momentum over the next three to four years, a large share of this growth is likely to come from low-cost emerging markets, which may weigh on Qualcomm's margins.
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Apple’s In-House Modem Lowers Revenue ProjectionApple’s accelerating transition toward internally developed modems remains a major concern for Qualcomm. The company expects the faster-than-expected shift to in-house modems to lead to lower revenues from the fiscal fourth quarter. The resulting loss of premium handset chipset volumes is likely to weigh on QCT revenues and cash flows while increasing pressure on the company to offset the shortfall through Snapdragon gains at Android OEMs and continued expansion in automotive and IoT. Although Qualcomm’s licensing franchise provides some insulation, Apple’s vertical integration represents a meaningful long-term overhang on the company’s handset business.
Estimate Revision TrendEarnings estimates for Qualcomm for fiscal 2026 have moved down 11.1% to $10.54 over the past year, while the same for fiscal 2027 has declined 17.9% to $10.06. The downward estimate revision indicates that investors are bearish about the stock’s growth potential.
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End NoteQualcomm is likely to benefit from robust automotive and Snapdragon traction as it aims to build Japan’s open robotics ecosystem to accelerate edge AI innovations. A strong emphasis on quality, diligent execution of operational plans and continuous portfolio enhancements are driving more value for customers.
However, with declining earnings estimates, the stock is witnessing negative investor sentiment. Moreover, stiff competition and softness in key end markets are likely to put pressure on the bottom-line growth. High R&D costs erode its profitability to a large extent. It also faces reduced chip orders and near-term uncertainty in memory supply.
With a Zacks Rank #3 (Hold), Qualcomm appears to be treading in the middle of the road, and new investors could be better off if they trade with caution. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Qualcomm oznámil, že tržby od Apple mají klesat rychleji, než dříve čekal. Zároveň tržby z automobilového segmentu vyskočily meziročně o 61 % na téměř 1,6 miliardy USD.
With shares down about 5% year to date (YTD), Qualcomm Inc. NASDAQ: QCOM is hardly the most glamorous name in AI. The company neither builds the agents that capture headlines nor operates cloud platforms that draw institutional business.
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Still, the company's underlying strength is hard to dismiss: it helps to put AI into just about everything else, including smartphones, cars, industrial tools in factories and manufacturing, and much more. This may give the company, often seen as an old-fashioned firm because of its legacy in digital cellular technology, a continued path to both relevance and long-term competitiveness.
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First, however, investors are likely to look at the company's recent turbulence (particularly the period of decline in late spring and summer). There is an argument to be made that Qualcomm could once again be transformative over the long-term, though it requires reconciling some not-so-appealing performance measures.
Qualcomm's Turbulence Is RealRecent earnings have not helped Qualcomm build momentum: a 4% year-over-year (YOY) dip in sales was slightly better than expected for Q3 2026, but still not heading in the right direction, and earnings missed analyst predictions slightly.
The company's reliance on Apple Inc. NASDAQ: AAPL products means that as the larger company diversifies its partner base, Qualcomm faces a shrinking opportunity tied to future iPhone launches. Qualcomm now expects revenue related to Apple products to decline even more rapidly than previously expected.
Perhaps the company's biggest issue is not even related to a specific partner company, though. Memory inflation and supply chain costs are eating into handset demand and the company's margins, forcing Qualcomm to make significant price increases just to keep these factors under control.
Understandably, the market has reacted to these updates with volatility. After trading at about $250 per share in late May 2026, shares fell sharply before recently trading around the mid-$160s. Still, the analyst consensus sits somewhere between these two levels, with a QCOM price target of nearly $204 agreed upon across Wall Street.
There's Some Room Still in the Smartphone BusinessDespite the bad news for Qualcomm's handset segment, it may not be worth writing it off entirely. The company's Snapdragon processors have become a primary on-device AI engine for Android phones, helping to process language models and other AI tools locally instead of via the cloud. Qualcomm has a strong position here and enjoys both pricing power and operational efficiency.
Automotive and AI Are Where the Long-Term Gains May Be FoundAlthough Qualcomm is well-known for its role in the smartphone industry, its automotive division could become the key focus as the company seeks to shift its strategic direction. Automotive revenue climbed by 61% YOY to nearly $1.6 billion for the latest quarter, a massive leap by any measure but especially impressive given that this may be only the beginning: Qualcomm anticipates annualized automotive revenue to reach $7 billion for the current fiscal year, thanks to major agreements with BMW OTCMKTS: BMWYY and Stellantis NV NYSE: STLA.
Back in June 2026, at its annual investor day, Qualcomm boosted its long-term non-handset revenue target for fiscal 2029 to $40 billion, almost double its previous target. Automotive is likely key to this projected growth, but the data center business is also significant. With custom silicon deals with hyperscalers and data center AI processors expected to ship in the coming months, Qualcomm is looking to continue its revitalization in one of the hottest markets currently available.
Qualcomm’s AI Case Needs Patience, Not NVIDIA ComparisonsQualcomm trades at nearly 20x earnings, which actually makes it a value play compared to some higher-multiple offerings in the AI space. Still, despite this potential, investors will need to look past Qualcomm's struggles in the smartphone space, which may continue to weigh on the company in the short-term.
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Qualcomm may not need to become the next NVIDIA Corp. NASDAQ: NVDA to succeed. Rather, the company's push into AI (via data centers) as well as automotive and other connected devices will need to offset the pressure it faces in its handset business. This may be a more manageable task and could end up rewarding investors willing to be patient through the low point of the current smartphone cycle.
In the end, the benefit could be longer-term diversification into multiple markets that have ample room for growth. However, this requires moving against Wall Street in some sense: analysts are split on QCOM shares, with most leaning toward Hold or Sell ratings, and the stock has an overall Hold rating despite its potential for upside going forward.
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Qualcomm a HUMAIN představily AI PC Horizon Ultra s platformou Snapdragon X2 Elite, která umožňuje spouštět AI úlohy lokálně na zařízení. Cílí na podnikové počítače a rostoucí poptávku po AI počítačích.
Key Takeaways Qualcomm and HUMAIN unveiled the Horizon Ultra AI PC, powered by the Snapdragon X2 Elite platform.The 18-core Oryon CPU, Adreno GPU and Hexagon NPU enable AI workloads to run locally on the device.QCOM is extending AI technologies across computing as demand grows for responsive, privacy-focused AI PCs. Qualcomm Incorporated (QCOM - Free Report) is expanding its presence in the rapidly growing artificial intelligence (AI) PC market through a collaboration with HUMAIN on the newly unveiled Horizon Ultra AI PC. The device is powered by the company’s Snapdragon X2 Elite platform, bringing advanced AI computing capabilities directly to enterprise PCs.
Qualcomm’s Snapdragon X2 Elite features an 18-core Oryon CPU, Adreno GPU and Hexagon NPU, forming the core of the Horizon Ultra AI PC. This architecture distributes workloads across specialized processing engines, enabling AI models and applications to run locally on the device while retaining access to cloud computing when additional resources are needed.
Qualcomm is strengthening its on-device AI capabilities by enabling faster and more responsive experiences while allowing selected workloads and sensitive data to remain on the PC. The platform can support enterprise productivity, content creation, multimodal AI and intelligent agents, addressing growing demand for devices that combine traditional computing performance with dedicated AI processing.
The partnership highlights the company’s broader strategy of extending its AI technologies across computing markets. As enterprises increasingly adopt locally processed AI to enhance responsiveness, privacy and data sovereignty, Qualcomm’s Snapdragon platforms are likely to benefit from rising demand for AI-native PCs and intelligent computing devices.
How Are Competitors Advancing in the AI PC Market?Qualcomm competes with NVIDIA Corporation (NVDA - Free Report) and Advanced Micro Devices (AMD - Free Report) . NVIDIA is advancing in the AI PC market with its RTX Spark platform, designed to bring powerful AI capabilities directly to Windows PCs. The company is working with Microsoft to develop AI-focused PCs that can support personal AI agents and run advanced AI workloads locally. NVIDIA’s expanding collaboration with MediaTek could further support the development of AI-focused consumer computers.
AMD is strengthening its position in the AI PC market with its Ryzen AI Halo platform and Ryzen AI Max PRO 400 Series processors. These products are designed to support large AI models and agentic AI workloads locally, reducing reliance on cloud computing. AMD is working with leading PC manufacturers to expand the availability of AI-powered PCs across consumer and commercial markets.
QCOM’s Price Performance, Valuation & EstimatesQualcomm shares have gained 7.3% over the past year compared with the industry’s growth of 49.5%.
Image Source: Zacks Investment Research
Going by the price/earnings ratio, the company's shares currently trade at 16.89 forward earnings, higher than 13.55 for the industry.
Image Source: Zacks Investment Research
Earnings estimates for fiscal 2026 have declined 1.9% to $10.54 per share over the past 60 days, while those for fiscal 2027 have decreased 7.5% to $10.06.
Image Source: Zacks Investment Research
Qualcomm stock currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Qualcomm ve fiskálním 3. čtvrtletí zvýšil tržby na 9,947 miliardy USD, ale non-GAAP EPS 2,21 USD mírně zaostal za odhady. Tržby z mobilních telefonů klesly meziročně o 20 %, zatímco automotive vzrostl o 61 % na 1,588 miliardy USD.
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Wall Street prices Qualcomm (NASDAQ: QCOM | QCOM Price Prediction) like a handset company facing a slow Apple exit. Our model sees a diversified semiconductor platform with a credible path into the data center, priced at a discount to its earnings power.
The 24/7 Wall St. price target for Qualcomm is $226.05 over the next 12 months, implying 41.14% upside from the current $160.61 quote. Our recommendation is buy, with a high confidence level of 90%.
24/7 Wall St. Price Target Summary Metric Value Current Price $160.61 24/7 Wall St. Price Target $226.05 Upside 41.14% Recommendation BUY Confidence Level 90% A Rough Stretch With a Sharper Story Underneath QCOM shares are down 2.46% over the past week, 7.35% over the past month, and 5.06% year to date, well off the $258.96 52-week high.
Fiscal Q3 revenue of $9.947 billion beat consensus by roughly 2.84%, but non-GAAP EPS of $2.21 narrowly missed expectations, ending a six-quarter beat streak. Handset revenue fell 20% year over year, while automotive rose 61% to $1.588 billion. That mix shift is the story the market is under-pricing.
Why Bulls See a Breakout Ahead The bull thesis centers on non-handset revenue. CEO Cristiano Amon said Qualcomm is targeting “total non-handset revenues growing to $40 billion by fiscal 2029, nearly double the target we shared in November 2024”, with growth accelerating from 24% in fiscal 2026 to greater than 60% in fiscal 2027.
Data center alone is projected to scale from $5 billion in fiscal 2027 to $15 billion in fiscal 2029, backed by two hyperscaler custom silicon wins already in wafer production with revenue starting the December quarter (the same data-center buildout we mapped across seven non-chipmaker suppliers in a free AI infrastructure report).
HBC Gen 1 has taped out, with a first solution launch targeted for mid-2027. Our bull case forecast points to $243.69, a 52.16% total return.
What Could Go Wrong Apple product revenue is expected to fall roughly 50% from September to December quarter, with fiscal 2027 share landing materially below the prior 20% assumption. Operating income fell 41.13% year over year in Q3 amid broad-based increases in wafer, packaging, and memory costs.
Management expects planned double-digit price increases to restore gross margin to the historical 48% to 50% range. The margin decline reflects heavy investment in the data center roadmap that our model rewards. Our bear case still lands at $191.05, a 19.29% gain from here.
How Qualcomm Compares to Broadcom and Marvell Broadcom (NASDAQ: AVGO) is the incumbent in hyperscaler custom silicon and sets the valuation ceiling. AVGO trades at a rich multiple relative to QCOM’s forward P/E of 16, framing how much re-rating room Qualcomm has if its two hyperscaler wins scale as guided.
Marvell Technology (NASDAQ: MRVL) competes head-on for custom ASIC and networking sockets at the same hyperscalers Qualcomm just landed. Marvell already carries an AI premium; Qualcomm trades near 18x trailing earnings with an EV/EBITDA of 13. On the same data center opportunity, Qualcomm looks meaningfully cheaper, making our 24/7 Wall St. price target of $226.05 reasonable rather than aggressive.
Qualcomm Price Prediction 2026-2030 Buy, with high confidence. The 24/7 Wall St. price target of $226.05 rests on a forward multiple that is not demanding, a genuine data center inflection in fiscal 2027, and record automotive momentum.
The setup strengthens if fiscal Q4 confirms pricing-driven margin recovery and the December-quarter custom silicon ramp lands on schedule. The thesis weakens if handset weakness deepens beyond the guided low-teens fiscal-year decline or if HBC customer engagements slip past mid-2027.
Year 24/7 Wall St. Price Target 2026 $180.11 2027 $226.05 2028 $282.29 2029 $345.81 2030 $382.57 These projections assume Qualcomm executes on the $40 billion non-handset revenue target. Significant upside or downside could come from the pace of hyperscaler custom silicon ramps and the trajectory of memory and wafer input costs.
Contact [email protected] for any questions or corrections.
Barrow Hanley Mewhinney & Strauss ve 2. čtvrtletí snížila svůj podíl v Qualcomm o 71,5 % a prodala 2 671 679 akcií. Po prodeji držela 1 064 560 akcií v hodnotě 196,72 mil. USD.
Barrow Hanley Mewhinney & Strauss LLC lessened its position in shares of Qualcomm Incorporated (NASDAQ:QCOM – Free Report) by 71.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,064,560 shares of the wireless technology company’s stock after selling 2,671,679 shares during the quarter. Barrow Hanley Mewhinney & Strauss LLC owned 0.10% of Qualcomm worth $196,720,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. JFS Wealth Advisors LLC increased its position in shares of Qualcomm by 3.4% during the 2nd quarter. JFS Wealth Advisors LLC now owns 1,595 shares of the wireless technology company’s stock valued at $295,000 after purchasing an additional 53 shares during the last quarter. Wall Street Financial Group Inc. boosted its holdings in shares of Qualcomm by 1.9% in the second quarter. Wall Street Financial Group Inc. now owns 3,050 shares of the wireless technology company’s stock worth $564,000 after buying an additional 57 shares during the last quarter. Sunbeam Capital Management LLC boosted its holdings in shares of Qualcomm by 3.7% in the second quarter. Sunbeam Capital Management LLC now owns 1,637 shares of the wireless technology company’s stock worth $303,000 after buying an additional 58 shares during the last quarter. Basepoint Wealth LLC grew its position in Qualcomm by 1.8% during the first quarter. Basepoint Wealth LLC now owns 3,333 shares of the wireless technology company’s stock valued at $429,000 after buying an additional 59 shares during the period. Finally, Five Oceans Advisors increased its holdings in Qualcomm by 3.3% during the second quarter. Five Oceans Advisors now owns 1,827 shares of the wireless technology company’s stock valued at $338,000 after buying an additional 59 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.
Qualcomm Price Performance Shares of QCOM stock opened at $160.75 on Monday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.02 and a quick ratio of 1.28. Qualcomm Incorporated has a one year low of $121.99 and a one year high of $259.92. The company’s fifty day moving average price is $178.26 and its 200-day moving average price is $168.12. The company has a market capitalization of $168.82 billion, a price-to-earnings ratio of 18.61, a PEG ratio of 14.84 and a beta of 1.65.
Qualcomm (NASDAQ:QCOM – Get Free Report) last issued its earnings results on Wednesday, July 29th. The wireless technology company reported $2.21 earnings per share for the quarter, missing the consensus estimate of $2.23 by ($0.02). Qualcomm had a return on equity of 38.36% and a net margin of 21.01%.The firm had revenue of $9.95 billion during the quarter, compared to the consensus estimate of $9.69 billion. During the same period in the prior year, the company posted $2.77 EPS. The company’s quarterly revenue was down 4.0% on a year-over-year basis. Qualcomm has set its Q4 2026 guidance at 2.050-2.250 EPS. Sell-side analysts expect that Qualcomm Incorporated will post 7.74 EPS for the current fiscal year. Qualcomm Announces Dividend The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 3rd will be given a dividend of $0.92 per share. The ex-dividend date is Thursday, September 3rd. This represents a $3.68 annualized dividend and a dividend yield of 2.3%. Qualcomm’s dividend payout ratio (DPR) is currently 42.59%.
Analyst Upgrades and Downgrades QCOM has been the topic of several recent research reports. Citigroup decreased their price target on shares of Qualcomm from $198.00 to $175.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 29th. Rosenblatt Securities cut their price objective on shares of Qualcomm from $265.00 to $235.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Oppenheimer set a $200.00 target price on Qualcomm in a report on Monday, July 27th. Royal Bank Of Canada lowered their target price on Qualcomm from $250.00 to $160.00 and set a “sector perform” rating on the stock in a research report on Thursday, July 30th. Finally, Argus set a $220.00 price target on Qualcomm in a research report on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, twenty have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Qualcomm presently has a consensus rating of “Hold” and an average price target of $203.63.
Read Our Latest Report on QCOM
Insider Buying and Selling In related news, EVP Akash J. Palkhiwala sold 2,500 shares of Qualcomm stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $163.26, for a total transaction of $408,150.00. Following the sale, the executive vice president owned 20,684 shares of the company’s stock, valued at approximately $3,376,869.84. This trade represents a 10.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Patricia Y. Grech sold 625 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $162.85, for a total value of $101,781.25. Following the completion of the transaction, the chief accounting officer directly owned 208 shares in the company, valued at approximately $33,872.80. This represents a 75.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 11,325 shares of company stock worth $1,925,859. 0.05% of the stock is owned by corporate insiders.
Qualcomm Company Profile (Free Report)
Qualcomm Incorporated is a global semiconductor and telecommunications equipment company headquartered in San Diego, California. Founded in 1985, the company is known for its development of wireless technologies and for playing a central role in the evolution of digital cellular standards, including CDMA and subsequent generations of mobile standards. Qualcomm’s business combines the design and sale of semiconductor products with a patent licensing program for wireless technologies and related intellectual property.
The company’s product portfolio includes system-on-chip (SoC) platforms marketed under the Snapdragon brand, cellular modem and RF front-end components, connectivity solutions for Wi‑Fi and Bluetooth, and processors and platforms aimed at automotive, IoT, networking and edge-computing applications.
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B. Metzler seel. Sohn & Co. AG raised its stake in Qualcomm Incorporated (NASDAQ:QCOM – Free Report) by 12.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 94,229 shares of the wireless technology company’s stock after buying an additional 10,538 shares during the period. B. Metzler seel. Sohn & Co. AG’s holdings in Qualcomm were worth $17,413,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently modified their holdings of QCOM. Your Advocates Ltd. LLP purchased a new stake in Qualcomm during the first quarter valued at about $26,000. Torren Management LLC acquired a new position in shares of Qualcomm in the fourth quarter worth about $29,000. Caitong International Asset Management Co. Ltd increased its position in shares of Qualcomm by 17,000.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 171 shares of the wireless technology company’s stock worth $29,000 after acquiring an additional 170 shares in the last quarter. Birchwood Financial Partners Inc. purchased a new position in shares of Qualcomm in the fourth quarter worth approximately $31,000. Finally, Commonwealth Retirement Investments LLC acquired a new stake in shares of Qualcomm during the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 74.35% of the company’s stock.
Analyst Ratings Changes Several equities research analysts recently commented on the stock. BNP Paribas Exane downgraded shares of Qualcomm to a “neutral” rating in a research report on Wednesday, April 29th. TD Cowen lowered their price objective on shares of Qualcomm from $225.00 to $175.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. HSBC reissued a “hold” rating on shares of Qualcomm in a research note on Wednesday, July 15th. Oppenheimer set a $200.00 target price on Qualcomm in a report on Monday, July 27th. Finally, Robert W. Baird set a $400.00 target price on Qualcomm in a research report on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, twenty have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $203.63.
Read Our Latest Stock Report on QCOM Insider Transactions at Qualcomm In other Qualcomm news, EVP Akash J. Palkhiwala sold 2,500 shares of the business’s stock in a transaction dated Tuesday, July 14th. The stock was sold at an average price of $180.81, for a total value of $452,025.00. Following the transaction, the executive vice president owned 23,184 shares in the company, valued at $4,191,899.04. The trade was a 9.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Heather S. Ace sold 3,200 shares of the business’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $147.04, for a total value of $470,528.00. Following the completion of the transaction, the executive vice president owned 36,535 shares in the company, valued at $5,372,106.40. This trade represents a 8.05% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 11,325 shares of company stock valued at $1,925,859. 0.05% of the stock is owned by insiders.
Qualcomm Stock Performance QCOM stock opened at $160.75 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.28 and a current ratio of 2.02. The stock has a market cap of $168.82 billion, a P/E ratio of 18.61, a P/E/G ratio of 14.84 and a beta of 1.65. The firm has a 50 day simple moving average of $178.26 and a 200 day simple moving average of $168.01. Qualcomm Incorporated has a 52 week low of $121.99 and a 52 week high of $259.92.
Qualcomm (NASDAQ:QCOM – Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The wireless technology company reported $2.21 earnings per share for the quarter, missing the consensus estimate of $2.23 by ($0.02). Qualcomm had a net margin of 21.01% and a return on equity of 38.36%. The company had revenue of $9.95 billion during the quarter, compared to analyst estimates of $9.69 billion. During the same quarter in the prior year, the company posted $2.77 EPS. The firm’s quarterly revenue was down 4.0% compared to the same quarter last year. Qualcomm has set its Q4 2026 guidance at 2.050-2.250 EPS. Research analysts anticipate that Qualcomm Incorporated will post 7.74 earnings per share for the current fiscal year.
Qualcomm Dividend Announcement The business also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 3rd will be paid a $0.92 dividend. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.3%. Qualcomm’s dividend payout ratio is 42.59%.
Qualcomm Profile (Free Report)
Qualcomm Incorporated is a global semiconductor and telecommunications equipment company headquartered in San Diego, California. Founded in 1985, the company is known for its development of wireless technologies and for playing a central role in the evolution of digital cellular standards, including CDMA and subsequent generations of mobile standards. Qualcomm’s business combines the design and sale of semiconductor products with a patent licensing program for wireless technologies and related intellectual property.
The company’s product portfolio includes system-on-chip (SoC) platforms marketed under the Snapdragon brand, cellular modem and RF front-end components, connectivity solutions for Wi‑Fi and Bluetooth, and processors and platforms aimed at automotive, IoT, networking and edge-computing applications.
Read More Five stocks we like better than Qualcomm 2 Biotech Stocks Shaping Up for Major Breakouts 3 Stocks Came Roaring Back—Now They’re Flashing Warning Signs 3 Beaten-Down Stocks That Haven’t Gotten the Message About the S&P 500’s Record Run Darden Restaurants Just Hit a 52-Week High–Is the Olive Garden Comeback Story Legit? Want to see what other hedge funds are holding QCOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Qualcomm Incorporated (NASDAQ:QCOM – Free Report).
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Abacus FCF Advisors LLC ve 2. čtvrtletí snížila svůj podíl v Qualcommu o 40,4 % a prodala 19 735 akcií. Po prodeji držela 29 114 akcií v hodnotě 5,38 milionu USD.
Abacus FCF Advisors LLC trimmed its holdings in shares of Qualcomm Incorporated (NASDAQ:QCOM – Free Report) by 40.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 29,114 shares of the wireless technology company’s stock after selling 19,735 shares during the period. Abacus FCF Advisors LLC’s holdings in Qualcomm were worth $5,380,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Your Advocates Ltd. LLP purchased a new stake in Qualcomm in the first quarter worth approximately $26,000. Torren Management LLC purchased a new stake in Qualcomm during the fourth quarter valued at $29,000. Caitong International Asset Management Co. Ltd lifted its holdings in Qualcomm by 17,000.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 171 shares of the wireless technology company’s stock valued at $29,000 after acquiring an additional 170 shares during the period. Birchwood Financial Partners Inc. purchased a new position in Qualcomm in the fourth quarter worth about $31,000. Finally, Commonwealth Retirement Investments LLC bought a new position in shares of Qualcomm in the 4th quarter worth approximately $32,000. 74.35% of the stock is owned by hedge funds and other institutional investors.
Qualcomm Price Performance NASDAQ QCOM opened at $160.75 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.02 and a quick ratio of 1.28. Qualcomm Incorporated has a 1 year low of $121.99 and a 1 year high of $259.92. The company has a market cap of $168.83 billion, a price-to-earnings ratio of 18.61, a PEG ratio of 14.84 and a beta of 1.65. The stock’s fifty day moving average price is $178.26 and its 200 day moving average price is $168.01.
Qualcomm (NASDAQ:QCOM – Get Free Report) last issued its earnings results on Wednesday, July 29th. The wireless technology company reported $2.21 EPS for the quarter, missing analysts’ consensus estimates of $2.23 by ($0.02). The business had revenue of $9.95 billion during the quarter, compared to analyst estimates of $9.69 billion. Qualcomm had a net margin of 21.01% and a return on equity of 38.36%. Qualcomm’s quarterly revenue was down 4.0% on a year-over-year basis. During the same quarter last year, the company earned $2.77 earnings per share. Qualcomm has set its Q4 2026 guidance at 2.050-2.250 EPS. As a group, equities research analysts forecast that Qualcomm Incorporated will post 7.74 earnings per share for the current year. Qualcomm Dividend Announcement The company also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 3rd will be given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Thursday, September 3rd. Qualcomm’s dividend payout ratio (DPR) is currently 42.59%.
Insider Activity In other Qualcomm news, EVP Akash J. Palkhiwala sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $163.26, for a total transaction of $408,150.00. Following the completion of the sale, the executive vice president directly owned 20,684 shares of the company’s stock, valued at $3,376,869.84. This represents a 10.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Patricia Y. Grech sold 625 shares of Qualcomm stock in a transaction on Friday, August 21st. The shares were sold at an average price of $162.85, for a total transaction of $101,781.25. Following the completion of the transaction, the chief accounting officer owned 208 shares in the company, valued at approximately $33,872.80. This trade represents a 75.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 11,325 shares of company stock valued at $1,925,859. 0.05% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes A number of brokerages have commented on QCOM. Dbs Bank raised shares of Qualcomm to a “moderate buy” rating in a report on Tuesday, July 7th. Royal Bank Of Canada lowered their target price on Qualcomm from $250.00 to $160.00 and set a “sector perform” rating on the stock in a research report on Thursday, July 30th. BNP Paribas Exane cut Qualcomm to a “neutral” rating in a research report on Wednesday, April 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Qualcomm in a research note on Wednesday, June 24th. Finally, JPMorgan Chase & Co. lifted their price objective on Qualcomm from $160.00 to $265.00 and gave the company a “neutral” rating in a research report on Friday, June 5th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, twenty have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $203.63.
Check Out Our Latest Stock Analysis on QCOM
Qualcomm Profile (Free Report)
Qualcomm Incorporated is a global semiconductor and telecommunications equipment company headquartered in San Diego, California. Founded in 1985, the company is known for its development of wireless technologies and for playing a central role in the evolution of digital cellular standards, including CDMA and subsequent generations of mobile standards. Qualcomm’s business combines the design and sale of semiconductor products with a patent licensing program for wireless technologies and related intellectual property.
The company’s product portfolio includes system-on-chip (SoC) platforms marketed under the Snapdragon brand, cellular modem and RF front-end components, connectivity solutions for Wi‑Fi and Bluetooth, and processors and platforms aimed at automotive, IoT, networking and edge-computing applications.
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Qualcomm za posledních 12 týdnů klesl o 30,6 % kvůli slabosti v mobilech a tlaku na marže. Automobilové tržby ale vzrostly o 61 % na rekordních 1,59 mld. USD.
Key Takeaways Qualcomm shares fell 30.6% in 12 weeks as handset weakness and near-term margin pressure weighed.Qualcomm's auto revenue rose 61% to a record $1.59B, with a $7B fiscal 2026 annualized sales exit target.Qualcomm targets $5B in fiscal 2027 data center revenue, though initial custom silicon may dilute margins. Qualcomm Incorporated (QCOM - Free Report) shares have declined 30.6% over the past 12 weeks, sharpening the debate over whether handset weakness and near-term margin pressure outweigh faster growth in newer businesses.
Automotive, Internet of Things and data center programs are broadening the revenue mix. The question is whether that diversification can offset mobile pressures quickly enough to make the pullback more attractive.
QCOM's Handset Slump Keeps the Core Under PressureQualcomm CDMA Technologies (QCT) handset revenues fell 20% year over year to $5.09 billion in the fiscal third quarter of 2026 as original equipment manufacturers reduced chipset purchases and worked down inventory amid memory supply constraints and higher memory prices.
Qualcomm expects fiscal 2026 QCT Android handset revenues to decline about 20%, with an annual earnings impact exceeding $1.50 per share. Apple Inc. (AAPL - Free Report) has already introduced its first internally designed cellular modem, the C1, in the iPhone 16e. Qualcomm also expects its share of the upcoming iPhone launch to be materially below its prior 20% assumption.
Qualcomm's Auto Ramp Offers a CounterweightQCT automotive revenues jumped 61% year over year to a record $1.59 billion in the latest quarter. Qualcomm raised its fiscal 2026 exit outlook for annualized automotive sales to about $7 billion, supported by higher compute content and new vehicle launches.
Stellantis N.V. (STLA - Free Report) expanded its multi-year collaboration with Qualcomm in May 2026 to use Snapdragon Digital Chassis solutions across cockpit, connectivity and driver-assistance systems. Qualcomm's broader platform wins with Stellantis and BMW support management's view that automotive growth is shifting from individual sockets toward multi-generation engagements.
QCOM's Data Center Push Adds Upside and Margin RiskTwo custom silicon engagements with global-scale hyperscalers are expected to begin generating revenues in the December 2026 quarter, with wafer production already underway. Qualcomm targets $5 billion of data center revenues in fiscal 2027 and $15 billion in fiscal 2029.
The early ramp carries a profitability trade-off. Management expects initial custom silicon revenues to dilute QCT gross margin by 1.5-2 percentage points, even as pricing actions are intended to offset higher input costs over the next couple of quarters.
Qualcomm's Valuation Looks Cheaper Than Its HistoryQCOM trades at 4.0X trailing 12-month enterprise value-to-sales, below its five-year median of 4.1X. Its 15.9X forward 12-month price-to-earnings multiple is also below the five-year median of 16.6X.
The discount offers some valuation support, but it does not remove execution risk. Handset uncertainty, customer insourcing and rising investment spending leave investors weighing a cheaper multiple against a changing earnings mix.
QCOM's Signals Still Favor PatienceThe pullback has made Qualcomm less expensive relative to its own history, while automotive and data center targets offer meaningful diversification potential. Near-term handset weakness and margin dilution, however, keep the risk-reward balance mixed.
QCOM currently carries a Zacks Rank #3 (Hold). Its Value Score of C is less supportive than the preferred A or B grades, while its Growth Score of D, Momentum Score of F and VGM Score of F are weaker within the A-to-F scale. That combination supports patience until earnings and price trends strengthen.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Qualcomm čeká, že tržby mimo segment handsetů ve fiskálním roce 2027 porostou o více než 60 %, ale hrubá marže ve 4. čtvrtletí klesne na 23 % až 25 % kvůli vyšším nákladům a slabším tržbám.
Key Takeaways Qualcomm expects non-handset revenue growth to top 60% in fiscal 2027 as diversification accelerates.QCOM expects its modem share in the upcoming iPhone launch to be materially below its prior 20% assumption.Qualcomm guides for a 23%-25% fiscal Q4 segment margin as higher costs and lower revenues weigh on profit. Qualcomm Incorporated (QCOM - Free Report) is moving deeper into automotive, Internet of Things and data center computing as its handset business weakens. That creates a clearer diversification story, but it also raises the bar for execution.
The investment question is whether faster non-handset growth can offset Apple exposure, softer mobile economics and near-term margin pressure quickly enough to support a stronger buy case.
Qualcomm's Diversification Case Is StrengtheningCombined Qualcomm CDMA Technologies automotive and Internet of Things revenues grew 28% year over year in the fiscal third quarter of 2026. Management expects non-handset revenue growth to accelerate from 24% in fiscal 2026 to more than 60% in fiscal 2027.
Non-handsets are expected to represent more than half of Qualcomm CDMA Technologies revenues in fiscal 2027. Stellantis N.V. (STLA - Free Report) expanded its multi-year technology collaboration with Qualcomm in May 2026 across cockpit, connectivity and driver-assistance systems, adding another example of how vehicle programs can support the shift beyond smartphones.
QCOM Faces a Steep Apple and Handset ResetQualcomm expects its modem share in the upcoming iPhone launch to be materially below its prior 20% assumption. Apple product revenues are expected to fall about 50% sequentially from the September to December 2026 quarters, while fiscal 2027 Apple product revenues are expected to come in below the prior outlook of slightly more than $2 billion.
Apple Inc. (AAPL - Free Report) has introduced the C1, its first internally designed cellular modem, in the iPhone 16e. Qualcomm expects fiscal 2027 non-handset growth to replace fiscal 2026 Apple product revenues, but that substitution depends on newer businesses scaling as planned.
Qualcomm's New Growth Comes With Margin CostsQualcomm CDMA Technologies' earnings-before-taxes margin fell to 26% in the fiscal third quarter from 30% a year earlier. Qualcomm guides for a 23%-25% margin in the fiscal fourth quarter as higher product costs and lower revenues weigh on profitability.
Investment is also rising ahead of the data center ramp. Research and development spending increased $381 million to $2.61 billion in the latest quarter, while early custom silicon revenues are expected to dilute the segment's gross margin by 1.5-2 percentage points.
QCOM Trades at a Discount to Its Own HistoryQCOM trades at 4.0X trailing 12-month enterprise value-to-sales, below its five-year median of 4.1X. Its 15.9X forward 12-month price-to-earnings multiple is also below the five-year median of 16.6X.
The discount offers some valuation support, but it is not unusually wide. The Zacks Consensus Estimate points to higher revenues in fiscal 2027 than in fiscal 2026, while earnings per share are expected to decline, leaving the stock dependent on diversification delivering enough growth to offset margin and handset pressure.
Qualcomm's Scores Keep the Case BalancedThe buy case is improving as automotive, Internet of Things and data center opportunities become more meaningful. Handset weakness, Apple insourcing and near-term margin dilution still keep the risk-reward balance from looking decisively favorable.
QCOM currently carries a Zacks Rank #3 (Hold). Its Value Score of C sits in the middle of the A-to-F scale, while its Growth Score of D, Momentum Score of F and VGM Score of F are weaker. Those readings do not provide the favorable A or B Style Score confirmation typically sought alongside top-ranked stocks.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
ABN AMRO Bank N.V. bought a new stake in Qualcomm Incorporated (NASDAQ:QCOM – Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,765 shares of the wireless technology company’s stock, valued at approximately $1,248,000.
Several other institutional investors and hedge funds have also modified their holdings of QCOM. Vanguard Group Inc. raised its stake in Qualcomm by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 114,144,068 shares of the wireless technology company’s stock worth $19,524,350,000 after buying an additional 647,076 shares during the period. Geode Capital Management LLC lifted its holdings in Qualcomm by 12.5% during the fourth quarter. Geode Capital Management LLC now owns 28,897,079 shares of the wireless technology company’s stock worth $4,931,968,000 after acquiring an additional 3,221,924 shares in the last quarter. Wellington Management Group LLP grew its stake in Qualcomm by 34.5% in the fourth quarter. Wellington Management Group LLP now owns 16,727,862 shares of the wireless technology company’s stock valued at $2,861,301,000 after acquiring an additional 4,290,622 shares during the period. Norges Bank acquired a new position in Qualcomm in the fourth quarter valued at about $2,591,056,000. Finally, Amundi increased its holdings in shares of Qualcomm by 9.9% in the third quarter. Amundi now owns 12,671,635 shares of the wireless technology company’s stock worth $2,136,486,000 after acquiring an additional 1,138,541 shares in the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.
Qualcomm Stock Down 1.2% Shares of Qualcomm stock opened at $160.19 on Wednesday. The firm has a market cap of $168.24 billion, a PE ratio of 18.54, a P/E/G ratio of 15.25 and a beta of 1.65. The business’s 50 day simple moving average is $180.71 and its 200 day simple moving average is $167.93. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.28 and a current ratio of 2.02. Qualcomm Incorporated has a 52-week low of $121.99 and a 52-week high of $259.92.
Qualcomm (NASDAQ:QCOM – Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The wireless technology company reported $2.21 earnings per share for the quarter, missing analysts’ consensus estimates of $2.23 by ($0.02). The firm had revenue of $9.95 billion for the quarter, compared to analyst estimates of $9.69 billion. Qualcomm had a return on equity of 38.36% and a net margin of 21.01%.The company’s revenue was down 4.0% compared to the same quarter last year. During the same period last year, the company earned $2.77 EPS. Qualcomm has set its Q4 2026 guidance at 2.050-2.250 EPS. On average, analysts predict that Qualcomm Incorporated will post 7.76 earnings per share for the current fiscal year. Qualcomm Dividend Announcement The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 3rd will be paid a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 2.3%. The ex-dividend date is Thursday, September 3rd. Qualcomm’s payout ratio is presently 42.59%.
Wall Street Analysts Forecast Growth A number of research firms have recently commented on QCOM. Dbs Bank raised Qualcomm to a “moderate buy” rating in a research report on Tuesday, July 7th. DZ Bank upgraded Qualcomm from a “hold” rating to a “buy” rating and set a $265.00 price objective for the company in a research report on Friday, June 26th. Summit Insights raised Qualcomm from a “hold” rating to a “buy” rating in a research note on Thursday, April 30th. TD Cowen dropped their target price on shares of Qualcomm from $225.00 to $175.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Finally, Mizuho lifted their price target on shares of Qualcomm from $170.00 to $210.00 and gave the company a “neutral” rating in a research note on Monday, June 29th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, twenty have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Qualcomm has an average rating of “Hold” and an average price target of $203.63.
View Our Latest Research Report on Qualcomm
Insiders Place Their Bets In other news, EVP Heather S. Ace sold 3,200 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $147.04, for a total transaction of $470,528.00. Following the sale, the executive vice president owned 36,535 shares in the company, valued at $5,372,106.40. This represents a 8.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Patricia Y. Grech sold 829 shares of the firm’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $201.77, for a total transaction of $167,267.33. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 11,529 shares of company stock valued at $1,991,345 in the last three months. 0.05% of the stock is currently owned by corporate insiders.
About Qualcomm (Free Report)
Qualcomm Incorporated is a global semiconductor and telecommunications equipment company headquartered in San Diego, California. Founded in 1985, the company is known for its development of wireless technologies and for playing a central role in the evolution of digital cellular standards, including CDMA and subsequent generations of mobile standards. Qualcomm’s business combines the design and sale of semiconductor products with a patent licensing program for wireless technologies and related intellectual property.
The company’s product portfolio includes system-on-chip (SoC) platforms marketed under the Snapdragon brand, cellular modem and RF front-end components, connectivity solutions for Wi‑Fi and Bluetooth, and processors and platforms aimed at automotive, IoT, networking and edge-computing applications.
See Also Five stocks we like better than Qualcomm The AI Boom Is Turning This Cable Maker Into a Stock to Watch A Star Investor Just Trimmed Amazon—Here’s What It means Wendy’s Deal Buzz May Give Fast-Food Investors a New Reason to Look Home Depot Analysts See a Path to $375 and Beyond Want to see what other hedge funds are holding QCOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Qualcomm Incorporated (NASDAQ:QCOM – Free Report).
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Bridgewater Advisors Inc. bought a new stake in shares of Qualcomm Incorporated (NASDAQ:QCOM – Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 6,304 shares of the wireless technology company’s stock, valued at approximately $955,000.
A number of other hedge funds have also recently made changes to their positions in QCOM. Your Advocates Ltd. LLP purchased a new stake in shares of Qualcomm in the first quarter worth $26,000. Torren Management LLC bought a new position in Qualcomm in the 4th quarter worth about $29,000. Caitong International Asset Management Co. Ltd grew its position in Qualcomm by 17,000.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 171 shares of the wireless technology company’s stock valued at $29,000 after purchasing an additional 170 shares during the last quarter. Birchwood Financial Partners Inc. purchased a new stake in Qualcomm during the 4th quarter valued at about $31,000. Finally, Commonwealth Retirement Investments LLC bought a new stake in Qualcomm during the 4th quarter valued at about $32,000. 74.35% of the stock is owned by institutional investors.
Qualcomm Stock Down 1.2% QCOM opened at $160.19 on Wednesday. The stock has a market capitalization of $168.24 billion, a price-to-earnings ratio of 18.54, a PEG ratio of 15.25 and a beta of 1.65. The firm has a 50 day moving average price of $180.71 and a 200-day moving average price of $167.93. Qualcomm Incorporated has a twelve month low of $121.99 and a twelve month high of $259.92. The company has a quick ratio of 1.28, a current ratio of 2.02 and a debt-to-equity ratio of 0.46.
Qualcomm (NASDAQ:QCOM – Get Free Report) last issued its earnings results on Wednesday, July 29th. The wireless technology company reported $2.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.23 by ($0.02). Qualcomm had a return on equity of 38.36% and a net margin of 21.01%.The company had revenue of $9.95 billion during the quarter, compared to analysts’ expectations of $9.69 billion. During the same quarter in the prior year, the business posted $2.77 EPS. The company’s revenue for the quarter was down 4.0% compared to the same quarter last year. Qualcomm has set its Q4 2026 guidance at 2.050-2.250 EPS. Equities research analysts forecast that Qualcomm Incorporated will post 7.76 earnings per share for the current year. Qualcomm Announces Dividend The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 3rd will be issued a $0.92 dividend. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $3.68 annualized dividend and a dividend yield of 2.3%. Qualcomm’s payout ratio is presently 42.59%.
Analyst Ratings Changes A number of equities research analysts have recently commented on QCOM shares. Argus set a $220.00 price target on shares of Qualcomm in a report on Friday, May 1st. Summit Insights raised Qualcomm from a “hold” rating to a “buy” rating in a research report on Thursday, April 30th. Raymond James Financial initiated coverage on Qualcomm in a research note on Thursday, June 25th. They set a “strong-buy” rating on the stock. Mizuho lifted their target price on Qualcomm from $170.00 to $210.00 and gave the stock a “neutral” rating in a report on Monday, June 29th. Finally, Oppenheimer set a $200.00 price target on Qualcomm in a research note on Monday, July 27th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, twenty have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Qualcomm currently has an average rating of “Hold” and an average price target of $203.63.
Get Our Latest Stock Analysis on QCOM
Insider Buying and Selling In related news, EVP Heather S. Ace sold 3,200 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $147.04, for a total transaction of $470,528.00. Following the completion of the sale, the executive vice president owned 36,535 shares in the company, valued at approximately $5,372,106.40. This represents a 8.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Akash J. Palkhiwala sold 2,500 shares of the stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $163.26, for a total value of $408,150.00. Following the completion of the transaction, the executive vice president directly owned 20,684 shares in the company, valued at approximately $3,376,869.84. This represents a 10.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 11,529 shares of company stock valued at $1,991,345 over the last 90 days. Company insiders own 0.05% of the company’s stock.
About Qualcomm (Free Report)
Qualcomm Incorporated is a global semiconductor and telecommunications equipment company headquartered in San Diego, California. Founded in 1985, the company is known for its development of wireless technologies and for playing a central role in the evolution of digital cellular standards, including CDMA and subsequent generations of mobile standards. Qualcomm’s business combines the design and sale of semiconductor products with a patent licensing program for wireless technologies and related intellectual property.
The company’s product portfolio includes system-on-chip (SoC) platforms marketed under the Snapdragon brand, cellular modem and RF front-end components, connectivity solutions for Wi‑Fi and Bluetooth, and processors and platforms aimed at automotive, IoT, networking and edge-computing applications.
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Qualcomm posiluje v chytrých telefonech díky platformám Snapdragon a rostoucí poptávce po AI funkcích, jako je překlad a vylepšení obrazu. Firma těží i ze silných vztahů se Samsungem.
Key Takeaways QCOM is strengthening its smartphone position with advanced Snapdragon mobile platforms.Rising demand for AI-enabled smartphones is boosting Snapdragon features like translation & image enhancement.Qualcomm benefits from strong relationships with major smartphone makers like Samsung. Qualcomm Incorporated (QCOM - Free Report) is strengthening its position in the global smartphone market through its Snapdragon mobile platforms, which combine high-performance computing, advanced graphics, artificial Intelligence (AI) and 5G technology. The company is leveraging its expertise in wireless technology and power-efficient chip design for premium and mainstream smartphones.
Qualcomm’s latest flagship, the Snapdragon 8 Elite Gen 5, features its custom Oryon CPU architecture, Adreno GPU and Hexagon NPU, delivering faster performance and improved power efficiency for gaming, photography and productivity. The company is expanding its portfolio with the Snapdragon 6 Gen 5 and Snapdragon 4 Gen 5, offering better processing performance, camera features and battery life for mid-range and entry-level devices.
The company is gaining from rising demand for AI-enabled smartphones, with Snapdragon supporting features such as translation, image enhancement and voice processing directly on devices. In addition, Qualcomm benefits from strong relationships with major smartphone makers such as Samsung.
Qualcomm’s combination of advanced processors, wireless technology and strong relationships with smartphone manufacturers positions it well to capitalize on the growth of next-generation smartphones.
How Are Competitors Advancing in the Mobile Chip Market?Qualcomm faces competition from Apple, Inc. (AAPL - Free Report) and Broadcom, Inc. (AVGO - Free Report) . Apple is strengthening its mobile chip business through its in-house A-series processors, which deliver strong performance and power efficiency. The chips are closely integrated with the iPhone Operating System, enabling the company to optimize hardware and software together. Apple’s custom silicon reduces its reliance on external chip suppliers and supports greater control over its product development.
Broadcom supplies wireless connectivity and semiconductor components used in smartphones, including Wi-Fi, Bluetooth and RF solutions. Its chips help smartphone manufacturers improve wireless performance, connectivity and power efficiency across mobile devices. Broadcom’s strong relationships with leading smartphone makers support its position in the mobile semiconductor market.
QCOM’s Price Performance, Valuation and EstimatesQualcomm shares have gained 3.8% over the past year compared with the industry’s growth of 62.1%.
Image Source: Zacks Investment Research
Going by the price/earnings ratio, the company's shares currently trade at 15.96 forward earnings, higher than 14.77 for the industry.
Image Source: Zacks Investment Research
Earnings estimates for fiscal 2026 have declined 1.6% to $10.57 over the past 60 days, while those for fiscal 2027 have decreased 6.2% to $10.11.
Odhady EPS pro fiskální roky 2026 a 2027 u Qualcommu za posledních sedm dní klesly o 0,8 % a 0,4 %. Tržby z handsetů spadly o 20 % na 5,09 mld. USD, zatímco automotive a IoT vzrostly o 28 %.
Key Takeaways Qualcomm's fiscal 2026 and 2027 EPS estimates fell 0.8% and 0.4% over the past seven days.Handset revenues slid 20% to $5.09B as OEMs cut chipset purchases and reduced inventory.Automotive and IoT revenues advanced 28%, lifting the fiscal 2026 automotive sales outlook to about $7B. Earnings estimates for Qualcomm Incorporated (QCOM - Free Report) for fiscal 2026 and fiscal 2027 have declined 0.8% and 0.4%, respectively, to $10.69 and $10.84 per share over the past seven days. The negative estimate revision depicts bearish sentiment toward the stock’s growth potential.
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QCOM Plagued by Soft DemandQualcomm reported lackluster third-quarter fiscal 2026 results with non-GAAP earnings of $2.21 per share, down 20% year over year, while revenues fell 4% to $9.95 billion. Higher input costs and handset weakness pressured profitability as QCT revenues declined 5% to $8.50 billion. Handset revenues plunged 20% to $5.09 billion as major OEMs reduced chipset purchases and worked down inventory amid memory supply constraints and higher memory prices.
The handset decline more than offset gains elsewhere in the product business. Management estimated that China OEM handset revenues reached a bottom in the quarter and expects double-digit sequential growth in the fourth quarter as channel inventory drawdowns ease.
Waning Margins Hurt QCOMQualcomm's margins have declined over the years due to high operating expenses and R&D (research & development) costs. QCT EBT declined 18% to $2.19 billion, while its EBT margin contracted 4 percentage points to 26%. Higher product costs and lower revenues outweighed higher average selling prices, reflecting industrywide increases across wafers, assembly, testing, advanced packaging, memory and other materials.
QTL revenues decreased 3% to $1.28 billion, and EBT fell 6% to $881 million. Its EBT margin slipped to 69% from 71%, as lower estimated cellular-product sales and fewer prior-period royalty adjustments offset a favorable revenue-per-unit mix.
The company expects softness in the handset market and a weaker overall device mix to continue in the near future. The shift in the share among original equipment manufacturers at the premium tier has reduced the near-term opportunity to sell integrated chipsets from the Snapdragon platform. In addition, aggressive competition from low-cost chip manufacturers and established players in the mobile phone chipset market is also likely to hurt Qualcomm's profits.
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Price PerformanceQualcomm’s shares are up 3.3% over the past year compared with the industry’s growth of 48.3%. It has lagged peers like Hewlett Packard Enterprise Company (HPE - Free Report) and Broadcom Inc. (AVGO - Free Report) . While Hewlett Packard has jumped 152.9%, Broadcom surged 33.9% over this period.
One-Year QCOM Stock Price Performance
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QCOM’s Snapdragon & Automotive Business Hold FortAutomotive revenues rose $604 million year over year, driven by a $381 million increase in revenue per unit from favorable mix and higher average selling prices. Another $223 million came from higher shipments tied to new vehicle launches using Snapdragon digital cockpit and ADAS and automated-driving products.
IoT revenues climbed 9% to $1.83 billion, led by favorable mix and growth in industrial networking and robotics. Combined QCT automotive and IoT revenues advanced 28%, and Qualcomm raised its fiscal 2026 exit-rate outlook for annualized automotive sales to approximately $7 billion from $6 billion.
Qualcomm envisions solid growth opportunities within the mobile space, driven by the strength of its Snapdragon portfolio. Leveraging processors with multi-core CPUs with cutting-edge features, amazing graphics and worldwide network connectivity, Qualcomm Snapdragon mobile platforms are fast with superb power efficiency, brilliant camera capabilities and state-of-the-art security solutions.
End NoteQualcomm is likely to benefit from robust automotive and Snapdragon traction. A strong emphasis on quality, diligent execution of operational plans and continuous portfolio enhancements are driving more value for customers.
However, with declining earnings estimates, the stock is witnessing negative investor sentiment. Stiff competition and softness in key end markets are likely to put pressure on the bottom-line growth. High R&D costs erode its profitability to a large extent. Qualcomm is facing a tough operating environment in China, raising questions about its long-term viability plans in the country. It also faces reduced chip orders and near-term uncertainty in memory supply.
With a Zacks Rank #3 (Hold), Qualcomm appears to be treading in the middle of the road, and new investors could be better off if they trade with caution. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Qualcomm oznámil silný růst tržeb v Automotive o více než 60 % meziročně, ale výsledky i výhled zklamaly. Akcie po výsledcích v obchodování po uzavření trhu klesly asi o 4 %.
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52-Week Range$121.99▼
$259.92Dividend Yield2.44%
P/E Ratio16.41
Price Target$208.97
Qualcomm Inc NASDAQ: QCOM has spent much of the past few months trying to convince the market that it’s more than just a smartphone chipmaker. Its earnings report, delivered July 29, will have disappointed investors looking for a clear update on whether that transformation is taking hold, as the takeaways were decidedly mixed.
The headline numbers told two stories at once. Revenue for the quarter comfortably beat expectations, driven by the diversification the company has been promising. Yet, earnings came in short, and the guidance for the quarter ahead landed below what Wall Street wanted to see.
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That was enough to send the stock down about 4% in Wednesday's after-hours session.
For anyone following the Qualcomm story, this was always going to be a quarter that mattered more than most. The question now is whether the progress beneath the headlines is sufficient to make this an entry opportunity or whether the near-term headwinds are too strong to overcome.
The Diversification Story Is Finally Showing UpThe single most encouraging takeaway was the performance of the businesses Qualcomm is betting its future on—its Automotive segment. This was the standout from the report, with revenue surging more than 60% year-over-year, prompting management to raise its outlook for the segment yet again. Qualcomm’s Internet of Things (IoT) business grew at a healthy clip, too, helping comfort investors spooked by Qualcomm’s Handset revenue dropping 20%.
This matters in the context of everything the company has been telling Wall Street. As we saw following its Investor Day last month, Qualcomm has staked its future on reducing its dependence on smartphones, and these results are the clearest evidence yet that those plans are working out.
The Data Center Push Comes With a Bigger BillQualcomm’s data center ambitions are another part of the business that bulls have been excited about, and the earnings report showed solid progress. Management confirmed that its first custom silicon shipments for data centers are expected in the current quarter, turning what had been a roadmap promise into a concrete timeline.
Unsurprisingly, none of this came for free, and Qualcomm's capital expenditure (CapEx) has been climbing sharply at the same time. For now, that spending remains modest relative to overall sales, so this is nothing like the eye-watering CapEx numbers being seen elsewhere in the chip world. But it is a trend worth watching, particularly if the data center revenue takes longer to arrive than management hopes.
The Apple Problem Just Got WorseIf there was one clear negative in the report, it was the update on Apple Inc. NASDAQ: AAPL. Qualcomm has long known that Apple is working to replace Qualcomm's modems with its own in-house design. Still, management revealed that this transition is now happening faster than previously expected.
The company's share of the upcoming iPhone launch is expected to be materially lower than the roughly 20% it had been modeling, a meaningful downgrade from the assumptions it held just a quarter ago.
That accelerated loss, combined with what management described as unprecedented memory costs, is the main reason guidance for the quarter ahead disappointed. It’s a stark reminder that even as Qualcomm’s new growth engines fire up, its legacy business still carries real risks.
Where to From Here?That sense of the company being mid-transition probably goes a long way to explaining how volatile Qualcomm stock has been in recent weeks. Pre-earnings, its shares were already down around 40% from May's high, and the lackluster reaction to these results suggests investors aren't ready to call the bottom just yet.
Qualcomm Incorporated (QCOM) Price Chart for Thursday, July, 30, 2026
The tension is easy to see. Qualcomm's beefy Handset revenue keeps falling, while its promising, yet still small, Automotive revenue is still rising. At some point those two lines will intersect, and when they do, the company will finally be free of the big question mark that's hung over it for much of the past year. For now, though, it feels like we're not quite there.
A strong earnings beat would have settled the matter. Without it, the market did what markets tend to do when a story gets more complicated rather than clearer: sell first and ask questions later. The stock fell not because the diversification plan is failing, but because the path to pulling it off just got bumpier.
That, ultimately, is the answer to why a company making real long-term progress still saw its shares slide. The strategy is working, and the destination looks more attractive than it did a year ago. It's just that, for now, the market has decided there’s still too much risk in the near term.
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Primary Health Properties podle Shore Capital profituje z růstu nájmů a úspor z fúze s Assurou, což podporuje dividendový výnos 7,5 %. Pololetní EPS meziročně vzrostl o 9 % na 3,8 p.
Primary Health Properties Plc's (LSE:PHP, OTC:PHPRF) looks "well positioned" as it continues to deliver attractive organic rental growth, that's according to house broker Shore Capital.
The UK stockbroker, in a note following PHP's interim results, highlighted that the property investment company's 7.5% dividend yield is being underpinned by accelerating rents and faster-than-expected savings from its Assura merger.
"We continue to forecast the company benefiting from earnings accretion in FY26F, further supporting an attractive dividend yield – currently 7.5%," said analyst Andrew Saunders.
"PHP has consistently delivered resilient operating metrics in a healthcare market with strong fundamental demographic characteristics, aided by a supportive political backdrop and the need for greater investment in healthcare infrastructure to assist with the delivery of services in local community settings. The shares continue to present a highly attractive opportunity for investors, offering among the best risk-adjusted, total returns profiles in the sector."
Shore noted that the healthcare property investor delivered a strong first half, with interim earnings per share rising 9% to 3.8p. Rent reviews generated an additional £4 million of income, producing a 3.2% annualised uplift against PHP’s 3% target.
Its interim dividend increased 2.8% to 3.65p per share, supporting Shore’s forecast for a 7.3p full-year distribution. At 97p, the shares trade just below the reported EPRA net tangible asset value of 99p.
PHP has also delivered 92% of the £9 million cost savings targeted from the Assura combination, reducing its EPRA cost ratio from 11.3% to 8.7%.
Attention now turns to debt reduction. Portfolio loan-to-value remained at 57%, although Shore expects disposals and new financing facilities to lower leverage and reduce the weighted cost of debt from 3.8% toward 3.5%.
The company is also advancing plans for a joint venture covering its £700 million private hospital portfolio, retaining a 50% interest and an asset-management role.
