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Qualcomm
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Latest analysis
Updated Nov 4, 2026
Qualcomm enters FY2027 with data center ramping to $5B, automotive at $8B run rate, and non-handset revenues crossing 50% of QCT for the first time.
Qualcomm's Q4 FY2026 earnings call marks a structural inflection: data center revenue exceeds $650M in Q1 FY2027 alone, anchored by two hyperscaler custom silicon engagements (AWS confirmed), with a $5B FY2027 target and $15B by FY2029. Automotive delivered its first $2B quarter with 89% YoY growth, reaching an $8B annualized run rate — above prior $7B guidance. The company simultaneously closed long-term QTL renewals with Apple, Huawei, and Transsion, eliminating near-term licensing uncertainty through fiscal 2030, while ARM litigation concluded with a jury verdict affirming Qualcomm's ALA rights.
Tone: bullishRevenue
$43.1B
QCOM 10-K · FY 2026
Employees
57,000
Revenue FY2025
$44.3B
Founded
1985
Profile
QCOM 10-K Item 1 · Nov 4, 2026Qualcomm is a global semiconductor and technology licensing company that develops and commercializes foundational technologies — including AI, high-performance computing and wireless connectivity — powering devices from smartphones and automobiles to IoT equipment and data center infrastructure. Its two primary operating businesses are QCT, which designs and supplies integrated circuit platforms, and QTL, which licenses its extensive patent portfolio to hundreds of wireless device manufacturers worldwide. The company is actively diversifying beyond its core handset semiconductor business into automotive, IoT and data center markets.
Read filing description ↓ Collapse description ↑
We are a global technology leader, helping to bring intelligent computing everywhere through the development and commercialization of foundational technologies, including advanced artificial intelligence (AI), high-performance and low-power computing and leading connectivity. Our platforms help power intelligent products and services used around the world, across industries and applications from handsets to automotive, the internet of things (IoT) and data center. In handsets, our Snapdragon platforms combine on-device AI, advanced wireless connectivity, high-performance and low-power computing and multimedia and imaging technologies to deliver differentiated smartphone experiences across a broad range of device tiers. In automotive, our Snapdragon Digital Chassis platforms, including connectivity, digital cockpit and advanced driver assistance and automated driving (ADAS/AD), are helping to connect the car to its environment and the cloud, creating unique in-cabin experiences and enabling a comprehensive assisted and automated driving solution. In IoT, our Snapdragon and Dragonwing platforms are helping power technology advancements in industries and applications from personal AI and compute to industrial, networking and robotics applications. In data center, our Qualcomm Dragonfly products, including products currently in development, are engineered to provide leading performance and power efficiency across central processing units (CPUs), AI accelerators and connectivity. We derive revenues principally from sales of integrated circuit products and licensing of our intellectual property, including patents and other rights. We are organized on the basis of products and services and have three reportable segments: QCT, QTL and QSI.
Primary products
- Snapdragon platforms
- Dragonwing platforms
- Snapdragon Digital Chassis
- Qualcomm Dragonfly
- Qualcomm Oryon CPU
- Qualcomm Kryo CPU
Business segments
End markets
Geographies
Named customers
In fiscal 2026, revenues from Apple and Samsung each comprised 10% or more of our consolidated revenues.
Named competitors
“Although we have attained a significant position in the semiconductor industry, many of our current and potential competitors may have advantages over us.” Competitive position, as stated in the filing
Revenue commentary · FY 2026
Total revenues decreased by $1.164 billion in fiscal 2026 compared to fiscal 2025, driven primarily by lower QCT handset revenues, partially offset by higher automotive, IoT and Data Center revenues.
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Analysis, signals, diligence answers, M&A activity and every quote, each citing the filing it came from.