Qualcomm
What matters nowUpdated 6 h ago
- The latest development is the Arm dispute: a jury began deliberating on October 9 in Qualcomm's breach-of-contract case against Arm, and a win could free Qualcomm from Arm royalties for up to five years, a benefit estimated at about $1.5 billion 1.
- On October 5 Qualcomm agreed a multi-year patent license with Huawei that includes cross-licenses, and it will buy certain Huawei U.S. patents in compute, AI and networking; the deal closes only after regulatory approvals and financial terms were not disclosed 2. On September 24 it renewed its global patent license with Apple, effective April 1, 2027 3.
- The stock fell 7.2% to $187.48 on September 28, which the source ties to a broad tech sell-off rather than a company catalyst 4. The pooled 24/7 venue price was $177.97 on October 13, up 2.5% from the previous close.
- Key numbers: trailing revenue is $44.07 billion, up 1.9% year over year but down 4.0% in the latest quarter, and trailing EPS is down 15.5% year over year. The net margin is 21.0% and the gross margin 54.2%. The market cap is $188.1 billion, with a P/E of 20.3, EV/EBITDA of 16.7 and a 5.5% free cash flow yield. In the last 180 days insiders made 16 planned sales worth $11.3 million and no purchases. In fiscal Q3 2026 automotive revenue hit a record, up 61% year over year, while handset revenue fell 20%.
- Next, Q4 fiscal 2026 earnings are estimated for November 4, 2026 (not confirmed), with guidance of $9.7 billion to $10.5 billion in revenue and non-GAAP EPS of $2.05 to $2.25. HUMAIN AI200 rack deployments are planned to begin in 2026. Polymarket puts 81.5% odds on no Fed rate change after the October 2026 meeting, and the September CPI is released on October 14.
TechTimes · Oct 9
Light Reading · Oct 5
Qualcomm newsroom · Sep 24
GuruFocus · Sep 28
Qualcomm designs Snapdragon chips and the Oryon CPU and Hexagon NPU cores that power smartphones, cars, PCs and connected devices, and it licenses the wireless patents that underpin most cellular handsets. Fiscal 2025 revenue was $44.3 billion, with the chip business (QCT) producing about 87% of it and licensing (QTL) about 13%. The stock trades on the chip cycle and on how fast the non-handset businesses grow.
How it makes money
Qualcomm earns most of its money by selling system-on-chip products to device makers, with handset chips the largest single source of revenue. It also collects royalties and license fees on its standard-essential cellular patents (QTL), which carry high margins and are less cyclical. Growth now depends on automotive, IoT and, from 2026, data-center AI accelerators.
Last 12 monthsChart & venues →
Valuation & fundamentalsFull financials →
TTM through 2026-06-28 from SEC filings (some quarters derived from annual and year-to-date figures). Ratios use our pooled 24/7 price. Quarterly statements →
Biggest businessesAll products & projects →
Snapdragon smartphone chips
Still the largest revenue line, but down 20% year over year in fiscal Q3 2026.
Automotive
Record quarterly revenue, up 61% year over year in fiscal Q3 2026.
IoT
Grew 9% year over year to $1.83B in fiscal Q3 2026.
Patent licensing (QTL)
Revenue declined 3% year over year to $1.28B in fiscal Q3 2026.
Latest newsAll news →
Qualcomm v. Arm: jury begins deliberations, no verdict as of October 9
The jury in Qualcomm's breach-of-contract case against Arm began deliberating on October 9 and had not announced a verdict when the reporting was published.
Huawei and Qualcomm agree broad patent license; Qualcomm buys Huawei patents
Huawei and Qualcomm agreed a multi-year patent deal that includes cross-licenses across their portfolios in 5G, compute, AI and networking.
Qualcomm falls 7.2% to $187.48 as tech stocks sell off
Qualcomm closed at $187.48 on September 28, down $14.49 or 7.17%, while the QQQ fell about 1%.
Qualcomm renews global patent license with Apple, effective April 1, 2027
Qualcomm said on September 24 that it has renewed its global patent license agreement with Apple, effective April 1, 2027.
Qualcomm unveils Snapdragon 8 Elite Gen 6 and Extreme Gen 6 flagship chips
Qualcomm unveiled two flagship phone chips at its Snapdragon Summit in Maui on September 22: the Snapdragon 8 Elite Gen 6 and the Snapdragon 8 Elite Extreme Gen 6.
Qualcomm, Lumentum and Corning to demo optical die-to-die link for AI scale-up
Qualcomm, Lumentum and Corning said they will demonstrate a high-density optical die-to-die interconnect for AI scale-up systems at ECOC 2026 in Malaga, Spain.
Products & businesses
Snapdragon smartphone chips
Still the largest revenue line, but down 20% year over year in fiscal Q3 2026.
Automotive
Record quarterly revenue, up 61% year over year in fiscal Q3 2026.
IoT
Grew 9% year over year to $1.83B in fiscal Q3 2026.
Patent licensing (QTL)
Revenue declined 3% year over year to $1.28B in fiscal Q3 2026.
Data-center connectivity (Alphawave)
Alphawave Semi acquisition closed on December 18, 2025, about one quarter ahead of schedule.
What it's building next
Segments
| Segment | Revenue | Share | |
|---|---|---|---|
| Qualcomm CDMA Technologies (QCT) Designs and sells chips and system software for smartphones, automotive systems (connectivity, digital cockpit, ADAS) and IoT products, including industrial and edge networking devices. | $38.37B | 86.6% | |
| Qualcomm Technology Licensing (QTL) Licenses the Qualcomm patent portfolio, including standard-essential cellular patents, to device makers that sell wireless products. | $5.58B | 12.6% |
Fiscal FY2025 · from the annual report
Valuation & fundamentals
TTM through 2026-06-28 from SEC filings (some quarters derived from annual and year-to-date figures). Ratios use our pooled 24/7 price.
Financial statements
| Metric | TTM | Q3 FY2026 2026-06-28 | Q2 FY2026 2026-03-29 | Q1 FY2026 2025-12-28 | Q4 FY2025 2025-09-28 | Q3 FY2025 2025-06-29 | Q2 FY2025 2025-03-30 | Q1 FY2025 2024-12-29 | Q4 FY2024 2024-09-29 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $44.07B | $9.95B -4% | $10.60B -3% | $12.25B +5% | $11.27Bd +10% | $10.37B +10% | $10.98B +17% | $11.67B +17% | $10.24Bd +19% |
| Gross profit | $23.90B | $5.28Bd -8% | $5.70Bd -6% | $6.68Bd +3% | $6.24Bd +8% | $5.76Bd +10% | $6.04Bd +14% | $6.51Bd +16% | $5.78Bd +22% |
| Operating income | $10.22B | $1.63B -41% | $2.31B -26% | $3.37B -5% | $2.92Bd +13% | $2.76B +24% | $3.12B +33% | $3.56B +21% | $2.58Bd +83% |
| Net income | $9.26B | $2.00B -25% | $7.37B +162% | $3.00B -6% | −$3.12Bd -207% | $2.67B +25% | $2.81B +21% | $3.18B +15% | $2.92Bd +96% |
| EPS (diluted) | $8.75 | $1.87 -23% | $6.88 +173% | $2.78 -2% | $-2.78d -208% | $2.43 +29% | $2.52 +22% | $2.83 +15% | $2.58d +95% |
| Operating cash flow | $12.40B | $991.0Md -66% | $2.45Bd -4% | $4.96B +8% | $4.00Bd +51% | $2.88Bd -6% | $2.55Bd -28% | $4.59B +56% | $2.65Bd -35% |
| Capital expenditure | $1.99B | $496.0Md +69% | $533.0Md +149% | $549.0M +98% | $407.0Md +59% | $294.0Md -24% | $214.0Md +16% | $277.0M +29% | $256.0Md -13% |
| Share buybacks | $9.25B | $1.36Bd -52% | $2.79Bd +60% | $2.65B +51% | $2.44Bd +88% | $2.85Bd +119% | $1.75Bd +139% | $1.75B +123% | $1.30Bd +226% |
| Cash & equivalents | $4.53B | $4.53B | $5.43B | $7.21B | $5.52B | $5.45B | $7.20B | $8.71B | $7.85B |
| Total debt | $13.28B | $13.28Bd | $14.77B | $14.82B | $14.81Bd | $14.79B | $13.26B | $13.21B | $13.27B |
| Shares outstanding | 1.06B | 1.06B | 1.06B | 1.07B | 1.07B | 1.08B | 1.10B | 1.11B | 1.11B |
| Metric | FY2025 2025-09-28 | FY2024 2024-09-29 | FY2023 2023-09-24 | FY2022 2022-09-25 |
|---|---|---|---|---|
| Revenue | $44.28B +14% | $38.96B +9% | $35.82B -19% | $44.20B |
| Cost of revenue | $19.74B +16% | $17.06B +8% | $15.87B -15% | $18.64B |
| Gross profit | $24.55Bd +12% | $21.90Bd +10% | $19.95Bd -22% | $25.57Bd |
| Research & development | $9.04B +2% | $8.89B +1% | $8.82B +8% | $8.19B |
| Operating income | $12.36B +23% | $10.07B +29% | $7.79B -51% | $15.86B |
| EBIT | $12.36B +23% | $10.07B +29% | $7.79B -51% | $15.86B |
| Depreciation & amortization | $1.60B -6% | $1.71B -6% | $1.81B +3% | $1.76B |
| Interest expense | $664.0M -5% | $697.0M +0% | $694.0M +42% | $490.0M |
| Income tax | $7.12B +3051% | $226.0M +117% | $104.0M -95% | $2.01B |
| Net income | $5.54B -45% | $10.14B +40% | $7.23B -44% | $12.94B |
| EPS (diluted) | $5.01 -44% | $8.97 +40% | $6.42 -44% | $11.37 |
| Dividends per share | $3.48 +5% | $3.30 +6% | $3.10 +8% | $2.86 |
| Diluted shares (weighted) | 1.10B | 1.13B | 1.13B | 1.14B |
| Operating cash flow | $14.01B +15% | $12.20B +8% | $11.30B +24% | $9.10B |
| Capital expenditure | $1.19B +15% | $1.04B -28% | $1.45B -36% | $2.26B |
| Share buybacks | $8.79B +113% | $4.12B +39% | $2.97B -5% | $3.13B |
| Cash & equivalents | $5.52B | $7.85B | $8.45B | $2.77B |
| Long-term debt (incl. current portion) | $14.81B | $13.27B | $14.48B | $13.54B |
| Total debt | $14.81Bd | $13.27B | $14.48B | $13.54B |
| Total assets | $50.14B | $55.15B | $51.04B | $49.01B |
| Total liabilities | $28.94B | $28.88B | $29.46B | $31.00B |
| Shareholders' equity | $21.21B | $26.27B | $21.58B | $18.01B |
| Shares outstanding | 1.07B | 1.11B | 1.11B | 1.12B |
From XBRL data in SEC filings. Small figures under each value: change vs the same period a year earlier. d = derived (e.g. Q4 = full year − first nine months).
NewsFull archive →
Qualcomm v. Arm: jury begins deliberations, no verdict as of October 9
The jury in Qualcomm's breach-of-contract case against Arm began deliberating on October 9 and had not announced a verdict when the reporting was published.
Huawei and Qualcomm agree broad patent license; Qualcomm buys Huawei patents
Huawei and Qualcomm agreed a multi-year patent deal that includes cross-licenses across their portfolios in 5G, compute, AI and networking.
Qualcomm falls 7.2% to $187.48 as tech stocks sell off
Qualcomm closed at $187.48 on September 28, down $14.49 or 7.17%, while the QQQ fell about 1%.
Qualcomm renews global patent license with Apple, effective April 1, 2027
Qualcomm said on September 24 that it has renewed its global patent license agreement with Apple, effective April 1, 2027.
Qualcomm unveils Snapdragon 8 Elite Gen 6 and Extreme Gen 6 flagship chips
Qualcomm unveiled two flagship phone chips at its Snapdragon Summit in Maui on September 22: the Snapdragon 8 Elite Gen 6 and the Snapdragon 8 Elite Extreme Gen 6.
Qualcomm, Lumentum and Corning to demo optical die-to-die link for AI scale-up
Qualcomm, Lumentum and Corning said they will demonstrate a high-density optical die-to-die interconnect for AI scale-up systems at ECOC 2026 in Malaga, Spain.
iPhone 18 Pro lists Apple C2 modem; Pro Max modem left unlisted
Apple's September 9 iPhone 18 Pro launch lists its in-house C2 modem for the iPhone 18 Pro.
Amazon gets warrant for up to 25M Qualcomm shares tied to $60B of purchases
Qualcomm filed an 8-K on September 8, 2026 describing a multi-generation collaboration to supply custom AI inference silicon and related hardware for AWS data centers.
Qualcomm reports fiscal Q3 2026 results: revenue $9.95B, down 4% from a year earlier
Qualcomm filed a Form 8-K with the SEC on Jul 29, 2026, 4:01 PM ET, reporting an event dated Jul 29, 2026.
Qualcomm confirms Snapdragon price increases for chips shipped after September 1
Qualcomm confirmed on July 29 that it will raise prices on Snapdragon chips for shipments after September 1, after first telling customers.
BMW names Qualcomm lead compute supplier for cockpit and driving systems
BMW Group named Qualcomm its lead compute silicon provider for in-vehicle digital cockpit and automated driving systems through the next decade.
Qualcomm returned $2.3B to shareholders in fiscal Q3 2026
Qualcomm paid $973 million in cash dividends ($0.92 per share) and repurchased 8 million shares for $1.4 billion in the quarter.
Qualcomm closes Modular acquisition, paying mainly in stock
Qualcomm completed its acquisition of Modular, the AI software company behind the Mojo language, with a closing date of July 28, 2026 stated in its quarterly report.
Qualcomm sets fiscal 2029 targets of $40B non-handset and over $15B data-center revenue
At its 2026 Investor Day, Qualcomm set fiscal 2029 targets of $40 billion in non-handset revenue and more than $15 billion in data-center revenue.
Qualcomm agrees to acquire AI software company Modular
Qualcomm agreed to acquire Modular Inc., an AI software infrastructure company whose platform runs AI models across different chip types without rewriting code for each one.
Qualcomm posts $10.6B fiscal Q2 revenue and guides Q3 to $9.2B to $10.0B
Qualcomm reported fiscal second-quarter revenue of $10.6 billion, down 3% from a year earlier, and non-GAAP EPS of $2.65 versus $2.85.
Qualcomm shares jump over 15% in late trading after fiscal Q2 report
Qualcomm shares rose more than 15% in extended trading after the fiscal second-quarter report, after first sliding about 6% before reversing.
Qualcomm adds breach-of-contract claim against Arm
On March 30, 2026, Qualcomm added a claim for breach of its Architecture License Agreement with Arm to its pending complaint.
Qualcomm lifts quarterly dividend to $0.92 and authorizes $20B buyback
Qualcomm raised its quarterly cash dividend from $0.89 to $0.92 per share, effective for dividends payable after March 26, 2026.
Qualcomm beats on fiscal Q1 2026 but guides March quarter well below Street
Qualcomm reported fiscal first-quarter revenue of $12.25 billion, up 5% year over year, and non-GAAP EPS of $3.50.
Qualcomm shares fall more than 9% in late trading after guidance
Qualcomm stock dropped more than 9% in extended trading after the fiscal first-quarter report, because the March-quarter outlook came in below Street forecasts.
Qualcomm files a parallel breach complaint against Arm Ltd.
On January 8, 2026, Qualcomm filed a complaint against Arm Ltd.
Qualcomm reports fiscal Q4 2025 results: revenue $11.27B, up 10% from a year earlier
Qualcomm filed a Form 8-K with the SEC on Nov 5, 2025, 4:01 PM ET, reporting an event dated Nov 5, 2025.
SEC filings
| Oct 13, 26 | EFFECT | EFFECT: Filing | sec.gov ↗ |
| Oct 2, 26 | 4 | Form 4: Grech Patricia Y (SVP, Chief Accounting Officer) — open-market sale 98 sh | sec.gov ↗ |
| Oct 2, 26 | S-3 | S-3: Shelf registration statement | sec.gov ↗ |
| Oct 2, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Sep 30, 26 | 4 | Form 4: TRICOIRE JEAN-PASCAL (Director) — award 183 sh | sec.gov ↗ |
| Sep 30, 26 | 4 | Form 4: MCLAUGHLIN MARK D (Director) — award 393 sh | sec.gov ↗ |
| Sep 25, 26 | 4 | Form 4: AMON CRISTIANO R (President & CEO, Director) — open-market sale 10,000 sh | sec.gov ↗ |
| Sep 25, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Sep 23, 26 | 4 | Form 4: AMON CRISTIANO R (President & CEO, Director) — open-market sale 10,000 sh | sec.gov ↗ |
| Sep 21, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Sep 11, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Sep 11, 26 | 4 | Form 4: Palkhiwala Akash J. (EVP, CFO & COO) — open-market sale 2,500 sh | sec.gov ↗ |
| Sep 8, 26 | 8-K | 8-K: Unregistered Equity Sale (Item 3.02) | sec.gov ↗ |
| Aug 31, 26 | 4 | Form 4: Grech Patricia Y (SVP, Chief Accounting Officer) — open-market sale 208 sh | sec.gov ↗ |
| Aug 31, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Aug 21, 26 | 4 | Form 4: Grech Patricia Y (SVP, Chief Accounting Officer) — option exercise 1,274 sh, tax withholding 441 sh, open-market sale 625 sh | sec.gov ↗ |
| Aug 21, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Aug 12, 26 | 4 | Form 4: Palkhiwala Akash J. (EVP, CFO & COO) — open-market sale 2,500 sh | sec.gov ↗ |
| Aug 12, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Aug 7, 26 | SCHEDULE 13G | SCHEDULE 13G: Passive ownership report (5%+) | sec.gov ↗ |
| Aug 3, 26 | 4 | Form 4: ACE HEATHER S (EVP, Chief HR Officer) — open-market sale 3,200 sh | sec.gov ↗ |
| Aug 3, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Jul 31, 26 | 8-K | 8-K: Other Events (Item 8.01) | sec.gov ↗ |
| Jul 31, 26 | 424B7 | 424B7: Filing | sec.gov ↗ |
| Jul 31, 26 | S-8 | S-8: Employee plan share registration | sec.gov ↗ |
Insider trades, 12 months
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-10-02 | Grech Patricia Y SVP, Chief Accounting Officer | Sale 10b5-1 plan | 98 | $186.55 | $18.3K |
| 2026-09-25 | AMON CRISTIANO R President & CEO, Director | Sale 10b5-1 plan | 10.0K | $200.00 | $2.0M |
| 2026-09-21 | AMON CRISTIANO R President & CEO, Director | Sale 10b5-1 plan | 10.0K | $195.00 | $1.9M |
| 2026-09-11 | Palkhiwala Akash J. EVP, CFO & COO | Sale 10b5-1 plan | 2.5K | $182.85 | $457.1K |
| 2026-08-31 | Grech Patricia Y SVP, Chief Accounting Officer | Sale 10b5-1 plan | 208 | $170.00 | $35.4K |
| 2026-08-21 | Grech Patricia Y SVP, Chief Accounting Officer | Sale 10b5-1 plan | 625 | $162.85 | $101.8K |
| 2026-08-12 | Palkhiwala Akash J. EVP, CFO & COO | Sale 10b5-1 plan | 2.5K | $163.26 | $408.1K |
| 2026-08-03 | ACE HEATHER S EVP, Chief HR Officer | Sale 10b5-1 plan | 3.2K | $147.04 | $470.5K |
| 2026-07-14 | Palkhiwala Akash J. EVP, CFO & COO | Sale 10b5-1 plan | 2.5K | $180.81 | $452.0K |
| 2026-06-11 | Palkhiwala Akash J. EVP, CFO & COO | Sale 10b5-1 plan | 2.5K | $197.35 | $493.4K |
| 2026-05-21 | Grech Patricia Y SVP, Chief Accounting Officer | Sale 10b5-1 plan | 829 | $201.77 | $167.3K |
| 2026-05-12 | Palkhiwala Akash J. EVP, CFO & COO | Sale 10b5-1 plan | 2.5K | $211.90 | $529.7K |
| 2026-05-05 | AMON CRISTIANO R President & CEO, Director | Sale 10b5-1 plan | 10.0K | $185.00 | $1.9M |
| 2026-05-04 | ACE HEATHER S EVP, Chief HR Officer | Sale 10b5-1 plan | 3.2K | $177.82 | $569.0K |
| 2026-05-04 | AMON CRISTIANO R President & CEO, Director | Sale 10b5-1 plan | 10.0K | $180.00 | $1.8M |
| 2026-04-30 | Grech Patricia Y SVP, Chief Accounting Officer | Sale 10b5-1 plan | 192 | $172.00 | $33.0K |
| 2026-04-13 | Palkhiwala Akash J. EVP, CFO & COO | Sale 10b5-1 plan | 2.5K | $130.34 | $325.9K |
| 2026-04-02 | Grech Patricia Y SVP, Chief Accounting Officer | Sale 10b5-1 plan | 85 | $125.50 | $10.7K |
| 2026-03-12 | Palkhiwala Akash J. EVP, CFO & COO | Sale 10b5-1 plan | 2.5K | $132.33 | $330.8K |
| 2026-03-12 | Grech Patricia Y SVP, Chief Accounting Officer | Sale 10b5-1 plan | 581 | $133.50 | $77.6K |
| 2026-02-09 | ACE HEATHER S EVP, Chief HR Officer | Sale 10b5-1 plan | 3.2K | $137.00 | $438.4K |
| 2026-02-06 | Palkhiwala Akash J. EVP, CFO & COO | Sale 10b5-1 plan | 3.3K | $137.65 | $458.8K |
| 2026-01-02 | Palkhiwala Akash J. EVP, CFO & COO | Sale 10b5-1 plan | 3.3K | $173.30 | $577.6K |