Qualcomm Inc (QCOM)
NASDAQ:QCOM
Top Page
Qualcomm
(NASDAQ:QCOM)
Select Model
Select Model
Rating:70Outperform
Price Target:
$144.00
▲(13.56% Upside)
Action:UpgradedDate:03/20/26
The score is driven primarily by strong financial quality—especially robust free cash flow and solid operating margins—balanced against a notably weak technical setup (downtrend across key moving averages with negative MACD). Valuation and dividend support the stock, while the latest earnings call tempers near-term outlook due to memory-driven handset demand compression and guided Q2 step-down.
Positive Factors
Strong cash generation
Sustained, sizable FCF provides durable financial flexibility: funds for R&D, strategic M&A (AlphaWave, Ventana, Algenxx), dividends and buybacks, and buffers versus cyclical revenue swings. High cash conversion supports long-term investment and capital return policies even during downturns.
Negative Factors
DRAM-driven handset constraints
Structural reallocation of memory (HBM prioritized for AI datacenters) can persist, limiting handset component supply and reducing chipset shipments. Reduced handset volumes lower both QCT product sales and QTL royalty base, creating sustained revenue and margin pressure until memory dynamics normalize.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation
Sustained, sizable FCF provides durable financial flexibility: funds for R&D, strategic M&A (AlphaWave, Ventana, Algenxx), dividends and buybacks, and buffers versus cyclical revenue swings. High cash conversion supports long-term investment and capital return policies even during downturns.
Read all positive factors
Qualcomm (QCOM) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$135.30B
Dividend Yield2.01%
Average Volume (3M)12.04M
Price to Earnings (P/E)15.4
Beta (1Y)1.52
Revenue Growth10.25%
EPS Growth-48.23%
CountryUS
Employees49,000
SectorTechnology
Sector Strength88
IndustrySemiconductors
Share Statistics
EPS (TTM)3.50
Shares Outstanding1,067,000,000
10 Day Avg. Volume16,838,071
30 Day Avg. Volume12,037,806
Financial Highlights & Ratios
PEG Ratio-0.74
Price to Book (P/B)8.54
Price to Sales (P/S)4.09
P/FCF Ratio14.13
Enterprise Value/Market Cap1.06
Enterprise Value/Revenue3.19
Enterprise Value/Gross Profit5.79
Enterprise Value/Ebitda10.41
Forecast
1Y Price Target
$156.87Price Target Upside23.71% Upside
Rating ConsensusHold
Number of Analyst Covering27
EPS Forecast (FY)11.16
Revenue Forecast (FY)$43.78B
Qualcomm Business Overview & Revenue Model
Company Description
QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. The company operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (...
How the Company Makes Money
Qualcomm makes money primarily through two major businesses: (1) selling semiconductor products and related software, and (2) licensing its intellectual property.
1) Semiconductor products (QCT): A substantial portion of Qualcomm’s revenue comes ...
Qualcomm Key Performance Indicators (KPIs)
Any
Revenue by Segment
Analyzes income from different business units, highlighting which segments drive growth and profitability, and indicating strategic focus areas.
Analyzes income from different business units, highlighting which segments drive growth and profitability, and indicating strategic focus areas.
Data provided by:
The Fly
The FlyQualcomm Earnings Call Summary
Earnings Call Date:Feb 04, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:May 06, 2026
Earnings Call Sentiment Neutral
The call presented a mix of strong execution and strategic progress across products, automotive, IoT, data center and robotics (record revenues, high margins, large design wins and acquisitions), but near-term growth is materially constrained by an industry DRAM shortage that is forcing OEM inventory reductions and reduced handset chipset orders. The company reiterated long-term diversification and product roadmaps while limiting near-term visibility beyond Q2.Positive Updates
Record Revenue and EPS
Total revenue of $12.3B and non-GAAP EPS of $3.50 in fiscal Q1 — both company records; non-GAAP EPS was at the high end of guidance.
Negative Updates
Industry Memory Shortage Impacting Handsets
DRAM availability constrained as memory suppliers prioritize HBM for AI data centers, causing industry-wide shortages and price increases; management states memory availability is likely to determine handset market size for the fiscal year.
Read all updates
Q1-2026 Updates
Positive
Negative
Record Revenue and EPS
Total revenue of $12.3B and non-GAAP EPS of $3.50 in fiscal Q1 — both company records; non-GAAP EPS was at the high end of guidance.
Read all positive updates
Company Guidance
For the second fiscal quarter, QUALCOMM guided revenues of $10.2–$11.0 billion and non‑GAAP EPS of $2.45–$2.65; broke that down to QTL revenues of $1.2–$1.4 billion with EBT margins of 68%–72%, QCT revenues of $8.8–$9.4 billion with EBITDA margins of 26%–28% (including ~ $6.0 billion of QCT handset revenues), QCT IoT growth of low‑teens % year‑over‑year, and QCT Automotive accelerating to >35% year‑over‑year growth; management also forecast non‑GAAP operating expenses of about $2.6 billion for the quarter and emphasized that handset guidance reflects near‑term DRAM supply/pricing constraints with an expectation to return to prior QCT handset run‑rates as memory conditions normalize.Qualcomm Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
71
Positive
Cash Flow
86
Very Positive
| Breakdown | TTM | Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 44.87B | 44.28B | 38.96B | 35.82B | 44.20B | 33.57B |
| Gross Profit | 24.72B | 24.55B | 21.90B | 19.95B | 25.57B | 19.30B |
| EBITDA | 13.73B | 14.93B | 12.74B | 9.95B | 17.25B | 11.37B |
| Net Income | 5.37B | 5.54B | 10.14B | 7.23B | 12.94B | 9.04B |
Balance Sheet | ||||||
| Total Assets | 53.03B | 50.14B | 55.15B | 51.04B | 49.01B | 41.24B |
| Cash, Cash Equivalents and Short-Term Investments | 11.82B | 12.48B | 13.30B | 11.32B | 6.38B | 12.41B |
| Total Debt | 14.82B | 16.37B | 15.44B | 16.07B | 16.16B | 16.30B |
| Total Liabilities | 29.96B | 28.94B | 28.88B | 29.46B | 31.00B | 31.29B |
| Stockholders Equity | 23.07B | 21.21B | 26.27B | 21.58B | 18.01B | 9.95B |
Cash Flow | ||||||
| Free Cash Flow | 12.93B | 12.82B | 11.16B | 9.85B | 6.83B | 8.65B |
| Operating Cash Flow | 14.39B | 14.01B | 12.20B | 11.30B | 9.10B | 10.54B |
| Investing Cash Flow | -1.85B | -800.00M | -3.62B | 762.00M | -5.80B | -3.36B |
| Financing Cash Flow | -14.07B | -13.20B | -9.27B | -6.66B | -7.20B | -6.80B |
Qualcomm Technical Analysis
Negative
126.80
Price Trends
138.57
Negative
154.34
Negative
156.75
Negative
Market Momentum
-3.61
Negative
34.27
Neutral
27.65
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For QCOM, the sentiment is Negative. The current price of 126.8 is below the 20-day moving average (MA) of 130.58, below the 50-day MA of 138.57, and below the 200-day MA of 156.75, indicating a bearish trend. The MACD of -3.61 indicates Negative momentum. The RSI at 34.27 is Neutral, neither overbought nor oversold. The STOCH value of 27.65 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for QCOM.
Qualcomm Risk Analysis
Qualcomm disclosed 24 risk factors in its most recent earnings report. Qualcomm reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Qualcomm Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $155.41B | 45.73 | 7.92% | 1.43% | 16.89% | 39.29% | |
71 Outperform | $354.61B | 80.54 | 7.18% | ― | 34.34% | 163.27% | |
70 Outperform | $135.30B | 15.44 | 21.63% | 2.01% | 10.25% | -48.23% | |
70 Outperform | $177.42B | 31.53 | 30.44% | 3.11% | 9.90% | 1.65% | |
63 Neutral | $49.16B | 27.14 | 20.73% | 1.79% | -6.81% | -23.16% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
48 Neutral | $251.65B | -658.38 | -0.26% | ― | -0.47% | 98.20% |
* Technology Sector Average
QCOM
Qualcomm
126.80
0.05
0.04%
AMD
Advanced Micro Devices
217.50
133.86
160.04%
ADI
Analog Devices
318.34
149.58
88.63%
INTC
Intel
50.38
30.81
157.43%
NXPI
NXP Semiconductors
194.55
34.32
21.42%
TXN
Texas Instruments
194.87
45.59
30.54%
Qualcomm Corporate Events
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
Qualcomm Shareholders Approve Board, Pay, and Incentive Plan
Positive
Mar 20, 2026
Qualcomm shareholders met on March 17, 2026, for the company’s 2026 annual meeting, where they re-elected the full slate of 11 board nominees, each receiving more than a majority of votes cast, and ratified PricewaterhouseCoopers as independ...
Executive/Board Changes
Qualcomm announces board member Christopher Young to step down
Neutral
Jan 16, 2026
On January 13, 2026, Qualcomm announced that board member Christopher D. Young will step down from the company’s Board of Directors, effective as of Qualcomm’s 2026 Annual Meeting of Stockholders. Young’s departure is driven by t...
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.