Qualcomm (QCI) AI Stock Analysis

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Qualcomm

(XETRA:QCI)

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Positive Factors

Non-handset diversificationRapid growth in automotive, IoT, and data center should reduce Qualcomm’s dependence on smartphones and broaden its earnings base. If non-handset revenue becomes the majority of QCT, the company’s long-term growth profile should become more resilient to handset cycles and customer-specific weakness.

Negative Factors

Handset market weaknessA stagnant or shrinking smartphone market limits the core chipset business and can pressure customer volumes, product mix, and operating leverage. This remains a meaningful multi-quarter headwind because Qualcomm’s handset exposure is still large even as non-handset businesses expand.

Qualcomm (QCI) vs. iShares MSCI Germany ETF (EWG)

Market Cap: EUR 189.54B
Dividend Yield: 2.01%
Average Volume (3M): 3,084
Price to Earnings (P/E): 13.5
Beta (1Y): 0.78
Revenue Growth: -7.59%
EPS Growth: 129.32%
Country: Germany
Employees: 57,000
Sector: Technology
Sector Strength: 61
Industry: Semiconductors

Qualcomm Business Overview & Revenue Model

Company Description

QUALCOMM Incorporated is a company dedicated to developing and bringing to market fundamental technologies crucial for the global wireless communication industry. Its operations are structured into three primary segments: Qualcomm CDMA Technologies (...

Qualcomm Earnings Call Summary

Earnings Call Date:Nov 04, 2026(Q4-2026)|% Change Since:3.83%|Next Earnings Date:Feb 03, 2027

Earnings Call SentimentPositive

The call was strongly positive. Qualcomm reported solid quarterly results, completed important licensing renewals, delivered substantial automotive and non-handset growth, and outlined significant data center, AI, connectivity, and diversification opportunities. The primary challenges were weakness in the handset market, the Apple product revenue ramp-down, memory-related pressure on parts of the business, and near-term gross-margin dilution from the data center ramp.

Positive Updates

Strong Fourth-Quarter Financial Results

Qualcomm delivered fiscal Q4 non-GAAP revenue of $10.4 billion and non-GAAP EPS of $2.17. QCT revenue was $9.0 billion, up 6% sequentially and at the high end of guidance, while QTL revenue was $1.3 billion.

Negative Updates

Handset Revenue Impacted by Memory Dynamics

QCT handset revenue was $5.1 billion in the fourth quarter and reflected the impact of industry-wide memory dynamics on the global smartphone market. QCT handset revenue is expected to decline by a mid-single-digit percentage sequentially in the December quarter as Android growth is offset by the continued ramp-down in Apple product revenue.

Company Guidance

For the first fiscal quarter, Qualcomm is forecasting revenues of $10.4 billion to $11.2 billion and non-GAAP EPS of $2.15 to $2.35, including QTL revenues of $1.3 billion to $1.5 billion and EBT margins of 72% to 76%, QCT revenues of $9 billion to $9.6 billion and EBT margins of 20% to 22%, QCT handset revenues declining by a mid single digit percentage sequentially, QCT data center revenues of greater than $650 million, combined QCT automotive and IoT revenues approximately flat sequentially, and non-GAAP operating expenses of approximately $2.8 billion. For fiscal 27, the company expects non handset revenues in QCT to grow by greater than 60% year over year, represent more than 50% of QCT revenues, data center revenues of $5 billion and a $7 billion exit rate, and global handset units to remain flat to down; it reiterated a long term QCT EBT margin target of 30%, a historical gross margin range of 40 to 50% at the low end of that range, and fiscal 29 targets of $40 billion in non handset revenues, including $15 billion from data center.

Qualcomm Risk Analysis

Qualcomm disclosed 24 risk factors in its most recent earnings report. Qualcomm reported the most risks in the "Tech & Innovation" category.

Tech & Innovation - Risks related to the company’s reliance on technology and ability to make innovative products

Latest Risks Added

0 New Risks

Qualcomm Peers Comparison

Overall Rating

UnderperformOutperform

Sector (61)

Financial Indicators

DE:QCI against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NXPI	80Outperform	$67.37B	20.73	29.17%	1.53%	14.55%	57.03%
AVGO	76Outperform	$1.74T	43.05	43.91%	0.75%	48.69%	99.97%
ARM	65Neutral	$212.58B	219.00	11.08%	―	23.84%	11.87%
Sector *	61Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
SWKS	59Neutral	$21.14B	78.21	3.00%	3.16%	-3.11%	-62.90%

* Technology Sector Average

Performance Comparison

DE:QCI and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
DE:QCI	Qualcomm	154.56	11.83	8.29%
AVGO	Broadcom Inc.	347.01	6.89	2.03%
NXPI	NXP Semiconductors	265.09	77.89	41.61%
SWKS	Skyworks Solutions	89.94	28.23	45.75%
ARM	ARM Holdings PLC ADR	190.53	50.27	35.84%

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Qualcomm AI Stock Analysis