QUALCOMM's growth has decelerated sharply, with revenue contracting 4.0% year-over-year in 2026Q3, while gross margins have compressed 330 basis points from 56.4% in 2024Q4 to 53.1%, driven by rising memory costs and a richer mix of lower-margin hardware. The ...
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Revenue growth has decelerated from 18.7% in 2024Q4 to -4.0% in 2026Q3, while gross margin contracted 330 basis points to 53.1%, reflecting rising memory costs and a lower-margin product mix.
Qualcomm has secured a 'leading hyperscaler' as a client for custom silicon, with shipments expected to begin in Q4 2026, validating its competitive position in the data center market.
The automotive business has reached a $5 billion annualized run rate, while the IoT segment, including AI laptops, is also showing growth.
Qualcomm's Snapdragon platforms are positioned as key growth drivers for on-device and edge AI across smartphones, PCs, and IoT devices.
Qualcomm faces challenges in the smartphone market, including a global DRAM shortage and a decreasing percentage of iPhones supplied with its modems, expected to be none by 2027.
Tensions between the US and China could negatively impact Qualcomm's addressable markets and licensing revenue.
Increased competition from hyperscalers integrating their own silicon may pressure Qualcomm's margins.
Trailing total returns as of 10/12/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).
Check whether operating performance supports the current valuation.
Recent results and news deserve attention only when they alter the forward view.
| Quarter | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|
Q3 2026Latest Jul 29, 2026 | $2.21-0.9% vs $2.23 | $9.9B+2.6% vs $9.7B |
Q2 2026 Apr 29, 2026 | $2.65+3.5% vs $2.56 | $10.6B+0.1% vs $10.6B |
Q1 2026 Feb 4, 2026 | $3.50+3.2% vs $3.39 | $12.3B+1.1% vs $12.1B |
Q4 2025 Nov 5, 2025 | $3.00+4.5% vs $2.87 | $11.3B+4.7% vs $10.8B |
Advanced Micro Devices is leveraging strategic partnerships with industry leaders to expand its footprint in the high-performance data center market. Qualcomm is successfully diversifying beyond mobile handsets into high-growth sectors like automotive and industrial computing.
ASML maintains a unique monopoly over the extreme ultraviolet lithography machines essential for manufacturing the world's most advanced microchips. Qualcomm is successfully diversifying beyond smartphones into automotive and data center AI, recently securing a major chip partnership with Amazon.
The constant labeling of AI as a "bubble" shouldn't deter investors from participating in one of history's most transformative technological shifts.
Recent news from Samsung, TSMC, and SpaceX suggests record CAPEX spending will continue.
Benchmark QCOM against direct peers instead of judging its metrics in isolation.
Key metrics vs top competitors for QUALCOMM Incorporated (QCOM)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $175.50 | $184.28B | 35.03 | 13.66% | 12.51% | 23.34% | 1.96% | |
| $361.54 | $1.72T | 75.79 | 23.87% | 41.87% | 44.01% | — | |
| $275.28 | $240.81B | 89.67 | 42.09% | 27.93% | 16.22% | — | |
| $76.35 | $11.49B | 24.79 | -2.18% | 7.23% | 5.04% | — | |
| $114.17 | $10.07B | 31.54 | -1.09% | 10.95% | 11.39% | — | |
| $75.55 | $41.02B | 290.58 | 7.08% | 8.8% | 6.9% | — |
QUALCOMM Incorporated (QCOM) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
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QUALCOMM Incorporated (QCOM) SEC filings — annual & quarterly reports (10-K, 10-Q)
Jul 31, 2026·SEC
Jul 29, 2026·SEC
Jun 24, 2026·SEC
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QUALCOMM Incorporated (QCOM) stock FAQ — growth, dividends, profitability & financials explained
QUALCOMM Incorporated (QCOM) reported $44.07B in revenue for fiscal year 2025. This represents a 5315% increase from $813.9M in 1996.
QUALCOMM Incorporated (QCOM) grew revenue by 13.7% over the past year. This is steady growth.
Yes, QUALCOMM Incorporated (QCOM) is profitable, generating $9.26B in net income for fiscal year 2025 (12.5% net margin).
Yes, QUALCOMM Incorporated (QCOM) pays a dividend with a yield of 1.96%. This makes it attractive for income-focused investors.
QUALCOMM Incorporated (QCOM) has a return on equity (ROE) of 23.3%. This is excellent, indicating efficient use of shareholder capital.
QUALCOMM Incorporated (QCOM) generated $10.42B in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.
