Qualcomm Incorporated is a leading technology company that operates primarily through its semiconductor and licensing businesses. The company develops and supplies integrated circuits and system software based on 3G/4G/5G technologies for mobile devices, automotive systems, and IoT products, significantly contributing to its revenue . Qualcomm also grants licenses for its intellectual property, including essential patent rights for wireless products . Additionally, the company engages in strategic investments and acquisitions to expand its market reach beyond mobile handsets, including automotive and IoT sectors .
- QCT (Qualcomm CDMA Technologies) - Develops and supplies integrated circuits and system software for mobile devices, automotive systems, and IoT products, leveraging 3G/4G/5G technologies.
- QTL (Qualcomm Technology Licensing) - Grants licenses for Qualcomm's intellectual property, including essential patent rights for wireless products.
- QSI (Qualcomm Strategic Initiatives) - Focuses on strategic investments to support the company's expansion into new markets and technologies.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Cristiano R. Amon ExecutiveBoard | President and CEO | Board Member at Adobe Inc. | Joined Qualcomm in 1995; became CEO in June 2021. Previously served as President and held various leadership roles, including overseeing Snapdragon platforms. | View Report → |
Akash Palkhiwala Executive | CFO and COO | None | Joined Qualcomm in 2001. Became CFO in November 2019 and COO in January 2024. Played a key role in Qualcomm's financial strategy and operations. | |
Dr. Baaziz Achour Executive | CTO | None | Appointed CTO on February 3, 2025, succeeding Dr. James H. Thompson. Previously served as Deputy CTO. | |
Ann M. Livermore Board | Director | Board Member at Samsara Inc. and Hewlett Packard Enterprise Co. | Director since 2016. Former executive at Hewlett-Packard Company with expertise in technology and business management. | |
Anthony J. Vinciquerra Board | Director | Chairman and CEO of Sony Pictures Entertainment; Board Member at Madison Square Garden Sports Corp. | Director since 2015. CEO of Sony Pictures Entertainment and former President of Fox Networks Group. | |
Irene B. Rosenfeld Board | Director | None | Director since 2018. Former Chairman and CEO of Mondel\u0113z International and Frito-Lay. | |
Jamie S. Miller Board | Director | None | Director since 2020. Former CFO of General Electric and Cargill, with extensive financial and operational expertise. | |
Jean-Pascal Tricoire Board | Director | Chairman of Schneider Electric SE; Director of UN Global Compact | Director since 2020. Chairman of Schneider Electric SE and a leader in sustainability and energy management. | |
Jeffrey W. Henderson Board | Director | Board Member at Becton, Dickinson and Company, Halozyme Therapeutics, Inc., and FibroGen, Inc. | Director since 2016. Former CFO of Cardinal Health and held leadership roles at Eli Lilly and General Motors. | |
Kornelis (Neil) Smit Board | Director | None | Director since 2018. Former Vice Chairman of Comcast Corporation and CEO of Comcast Cable Communications. | |
Marie Myers Board | Director | EVP and CFO at Hewlett Packard Enterprise Company | Director since October 2024. Former CFO of HP Inc. and UiPath, with expertise in finance and digital transformation. | |
Mark D. McLaughlin Board | Chair of the Board | Board Member at Snowflake Inc. and Rubrik, Inc. | Chair of Qualcomm's Board since 2015. Former CEO of Palo Alto Networks and held leadership roles at VeriSign. | |
Mark Fields Board | Director | Board Member at Lam Research Corporation and Hertz Global Holdings, Inc. | Director since 2018. Former CEO of Ford Motor Company and Interim CEO of Hertz. | |
Sylvia Acevedo Board | Director | None | Director since November 2023. Known for her advocacy for underserved communities and expertise in ESG and social matters. | |
James H. Thompson | Retired CTO (Advisory Role) | None | Retired as CTO on February 3, 2025, after 32 years at Qualcomm. Now serves in an advisory role. |
- Given your guidance that China Android revenues are expected to grow by more than 40% sequentially, can you explain the factors driving this significant increase and how it impacts your other major OEM customers?
- Your QCT IoT revenues have shown strong year-over-year growth, but you're also forecasting a sequential decline consistent with previous years; can you clarify the drivers behind both the growth and the anticipated decline, and how sustainable is this performance?
- With the upcoming ARM dispute trial in December, can you discuss the potential risks to your custom CPU design rights and how a negative outcome might affect your product roadmap and business strategy?
- Chipset gross margins appear to be guided slightly lower for Q1; is this due to increased wafer costs or changes in product mix, and how should we think about your gross margin trajectory moving forward?
- Considering the acceleration of flagship Android handset launches and your strong performance in non-smartphone areas, how sustainable is the double-digit revenue growth into the March quarter, and what factors could impact this momentum?
Research analysts who have asked questions during QUALCOMM INC/DE earnings calls.
Joshua Buchalter
TD Cowen
6 questions for QCOM
Samik Chatterjee
JPMorgan Chase & Co.
6 questions for QCOM
Stacy Rasgon
Bernstein Research
6 questions for QCOM
Tal Liani
Bank of America
5 questions for QCOM
Timothy Arcuri
UBS
5 questions for QCOM
Ben Reitzes
Melius Research LLC
3 questions for QCOM
Chris Caso
Wolfe Research LLC
3 questions for QCOM
Christopher Caso
Wolfe Research
3 questions for QCOM
CJ Muse
Cantor Fitzgerald
3 questions for QCOM
Ross Seymore
Deutsche Bank
3 questions for QCOM
Joseph Moore
Morgan Stanley
2 questions for QCOM
Christopher Rolland
Susquehanna Financial Group
1 question for QCOM
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
Current competitors include companies such as this one, which competes with respect to some, but not all, of the company's businesses or product lines. | |
HiSilicon | Current competitors include companies such as this one, which competes with respect to some, but not all, of the company's businesses or product lines. |
MediaTek | Current competitors include companies such as this one, which competes with respect to some, but not all, of the company's businesses or product lines. |
Current competitors include companies such as this one, which competes with respect to some, but not all, of the company's businesses or product lines. | |
Current competitors include companies such as this one, which competes with respect to some, but not all, of the company's businesses or product lines. | |
Current competitors include companies such as this one, which competes with respect to some, but not all, of the company's businesses or product lines. | |
Current competitors include companies such as this one, which competes with respect to some, but not all, of the company's businesses or product lines. | |
Samsung | Current competitors include companies such as this one, which competes with respect to some, but not all, of the company's businesses or product lines. |
Current competitors include companies such as this one, which competes with respect to some, but not all, of the company's businesses or product lines. | |
Current competitors include companies such as this one, which competes with respect to some, but not all, of the company's businesses or product lines. | |
UNISOC | Current competitors include companies such as this one, which competes with respect to some, but not all, of the company's businesses or product lines. |
The company faces competition from products internally developed by customers, including some of the largest customers, such as this one, which may develop their own integrated circuit products. |
| Customer | Relationship | Segment | Details |
|---|---|---|---|
Apple | Buys modem products from Qualcomm; also developing own modem technology | All | ≥ 10% of total FY2024 revenue ($38,962 million ) ⇒ ≥ $3,896 million |
Samsung | Purchases integrated circuit products from Qualcomm; also competes via vertical integration | All | ≥ 10% of total FY2024 revenue ($38,962 million ) ⇒ ≥ $3,896 million |
Xiaomi | Purchases Qualcomm’s integrated circuit products for premium-tier handsets | All | ≥ 10% of total FY2024 revenue ($38,962 million ) ⇒ ≥ $3,896 million |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Veoneer, Inc. | 2022 | Completed on April 1, 2022, this deal involved a total cash consideration of approximately $4.7 billion with Qualcomm acquiring Arriver’s business and integrating its advanced computer vision and driver assistance technologies into its Snapdragon automotive platform, while SSW Partners retained and is planning the sale of the Non-Arriver businesses supported by additional funding of about $300 million. |
Recent press releases and 8-K filings for QCOM.
- Qualcomm posted a $3.1 billion net loss in fiscal Q4 2025 due to a one-time, non-cash $5.7 billion tax charge under the One Big Beautiful Bill Act.
- The company achieved record annual revenue of $44.3 billion, up from $39 billion year-on-year.
- QCT segment revenue increased 13% to $9.8 billion, while QTL revenue rose 7% to $1.4 billion in the quarter.
- Adjusted EPS of $3.00 and revenue of $11.27 billion exceeded analyst expectations of $2.88 and $10.79 billion, respectively.
- CFO expects a 13–14% effective tax rate going forward, and Qualcomm forecasts higher revenue and earnings next quarter as it expands into AI accelerator chips for 2026–27.
- Q4 non-GAAP revenue of $11.3 B and EPS of $3.00 exceeded the high end of guidance, with Licensing at $1.4 B and QCT at $9.8 B, up 9% sequentially.
- Fiscal 2025 non-GAAP revenue rose 13% YoY to $44 B, EPS increased 18% YoY to $12.03, and record free cash flow of $12.8 B was returned to shareholders.
- QCT delivered record automotive quarterly revenue above $1 B (+17% YoY) and IoT revenues of $1.8 B (+7% YoY); FY 2025 automotive and IoT grew 36% and 22% YoY, respectively.
- Q1 FY2026 guidance: revenue $11.8–$12.6 B, non-GAAP EPS $3.30–$3.50, QCT revenue $10.3–$10.9 B with 30–32% EBT margins, and Licensing revenue $1.4–$1.6 B.
- On track for fiscal 2029 targets of $8 B in automotive and $14 B in IoT revenue, supported by expanded AI PC, smart glasses, and edge-to-cloud AI initiatives.
- Qualcomm delivered Q4 revenues of $11.3 B and non-GAAP EPS of $3, both above guidance; FY 2025 non-GAAP revenues rose 13% YoY to $44 B and EPS grew 18% to $12.03.
- QCT segment posted $9.8 B in Q4 revenues (+13% YoY) and record automotive revenues > $1 B, with IoT revenues of $1.8 B (+7% YoY).
- Generated record free cash flow of $12.8 B in FY 2025, returning nearly 100% to shareholders via repurchases and dividends.
- Q1 FY 2026 guidance: revenues $11.8 B–$12.6 B and EPS $3.30–$3.50, with QCT revenues of $10.3 B–$10.9 B and EBT margins of 30%–32%.
- Launched Snapdragon 8 Elite Gen 5 mobile platform and new laptop SoCs (X2 Elite/Elite Extreme); unveiled AI inference SoCs AI200 and AI250 for data center inference entry.
- Q4 2025 non-GAAP revenues of $11.3 billion and EPS of $3.00, both exceeding the high end of guidance.
- QCT segment delivered $9.8 billion in Q4 revenue (up 9% sequentially); achieved record automotive revenues (> $1 billion) and FY 2025 QCT revenues of $38.4 billion (+16% YoY), with automotive +36% and IoT +22% growth.
- Full-year fiscal 2025 non-GAAP revenues of $44 billion (+13% YoY), EPS of $12.03 (+18%), and record free cash flow of $12.8 billion, returning ~100% to shareholders.
- First-quarter FY 2026 guidance: revenues of $11.8 billion–$12.6 billion and EPS of $3.30–$3.50, with QCT revenues expected to be $10.3 billion–$10.9 billion.
- Product launches: Snapdragon 8 Elite Gen 5 platform for flagship AI smartphones; Snapdragon X2 Elite and X2 Elite Extreme for AI PCs; and AI inference SoCs AI200 and AI250.
- Qualcomm reported Fiscal 2025 revenues of $44.3 B, up 14% year-over-year, GAAP EPS of $5.01 (down 44%) and Non-GAAP EPS of $12.03 (up 18%).
- In Q4, revenues were $11.27 B, up 10% YoY; GAAP diluted loss per share was $(2.89) (reflecting a $5.7 B deferred tax valuation allowance) versus Non-GAAP EPS of $3.00, +12% YoY.
- QCT segment achieved record FY revenues of $38.37 B (+16% YoY), with Non-Apple revenues up 18% and combined Automotive & IoT revenues up 27%.
- For Q1 FY 2026, Qualcomm guides to revenues of $11.8 B – $12.6 B and Non-GAAP diluted EPS of $3.30 – $3.50.
- Qualcomm unveils AI200 and AI250 inference-optimized chips for data center AI, with commercial availability in 2026 and 2027.
- The AI200 supports up to 768 GB of LPDDR memory per card, optimized for large language and multimodal model inference.
- The AI250 employs a near-memory computing architecture delivering over 10× higher effective memory bandwidth and reduced power consumption.
- Solutions include accelerator cards and racks featuring direct liquid cooling, PCIe/Ethernet scalability, confidential computing, and a 160 kW power cap.
- Saudi AI company Humain is the first customer, planning to deploy 200 MW of compute starting in 2026.
- China’s State Administration for Market Regulation has launched an antitrust investigation into Qualcomm’s acquisition of Israeli chipmaker Autotalks, completed in June 2025 after a more than two-year process.
- Autotalks specializes in vehicle-to-everything (V2X) communication technology supporting DSRC and C-V2X (LTE & 5G), aligning with Qualcomm’s strategy to expand its Snapdragon Digital Chassis lineup.
- Qualcomm paid $80–90 million for Autotalks, a steep discount to an earlier valuation of around $350 million.
- The probe is part of broader US–China trade tensions, which include new port fees, rare-earth export restrictions, and a halt on US soybean purchases ahead of a summit between Presidents Trump and Xi Jinping, and has weighed on Qualcomm’s stock.
- Qualcomm has acquired Italy-based open-source hardware and software company Arduino to expand its presence in automation, robotics, and edge computing.
- Arduino, with over 33 million active users, is widely used by both students and professional engineers for electronic prototypes and DIY projects.
- The deal will integrate Qualcomm’s chip technologies into Arduino’s platform, including the launch of the Arduino UNO Q microcontroller powered by Qualcomm’s Dragonwing QRB2210 processor for AI-powered solutions.
- Arduino will retain its independent brand and support chips from multiple providers, and Qualcomm will introduce AppLab, a new coding tool to bridge robotics and AI development languages.
- Automotive revenues on track for $4 billion in 2025, with a ~40% 5-year CAGR and a target of $9 billion by 2030
- Revenue mix evolving from connectivity and cockpit toward higher-value ADAS compute, securing 20 OEM design wins to date
- Introduction of a Flex Gen5 SoC to run infotainment and ADAS concurrently on one chip; first deployment with LeapMotor mid-2026
- Arriver acquisition (2022) enables in-house automotive software stack; global stack launching year-end across 60+ countries, co-developed with BMW
- Industrial IoT business now > $1 billion, organized into five segments (connectivity, camera, processors, robotics/drones) with a solutions-focused go-to-market
- Q3 EPS beat at $2.77, surpassing expectations.
- Handset revenue of $6.3 billion (vs. $6.4 billion expected) and automotive revenue of $984 million (vs. $1 billion expected) led to a mixed top line.
- Analyst price targets were raised ahead of the report: JPMorgan to $200 (Overweight), UBS to $165 (Neutral), and Citi to $170 (Neutral).
- Market cap stands at $173.92 billion with 79.96% institutional ownership, reflecting strong investor confidence.
- New product development: Qualcomm is advancing its Snapdragon 8s Elite chip with custom Oryon cores on TSMC’s 3nm process to broaden access to flagship performance.