QCOM · Full Picture

QUALCOMM INC/DE — the full picture

Earnings window · 2026-07-08 to 2026-09-24 · anchored on the 10-Q report

One earnings window, everything merged: the filing, the call, press releases and news digests, folded into ranked threads.

What to look at first

  1. Revenue Performance and Mix · Revenue growth & mixPriority 80
    -20.1% revenue (realized); 3 sources (news, press_release, sec_filing); 1 forward row(s); structured_verified
    Qualcomm reported record automotive revenue with 61% year-over-year growth in Q3 2026.
  2. AI Infrastructure Partnership · UnclassifiedPriority 79
    +90.5% revenue; 5 forward row(s); quote_verified
    Qualcomm targets $15B in data center revenue by FY29.
  3. Income Tax Rate Changes · TaxPriority 78
    +63.9% net_income (realized); 2 sources (press_release, sec_filing); 1 forward row(s); structured_verified
    In the second quarter of fiscal 2026 we released our valuation allowance on our federal deferred tax assets resulting in a $5.7 billion income tax benefit.
  4. Acquisition / Partnership / Divestiture · M&A and divestituresPriority 76
    -3.4% cash; 3 sources (news, press_release, sec_filing); 9 forward row(s); quote_verified
    In connection with the acquisition of Alphawave, we agreed to restrict approximately $2.3 billion of cash to be held for purposes of satisfying payment of the consideration to effect the acquisition.
  5. AI Infrastructure Partnership · Partnerships & JVsPriority 74
    +191.0% revenue; 6 forward row(s); quote_verified
    The collaboration gives Amazon the option to acquire up to $4 billion in Qualcomm shares.
  6. Customer Dynamics · Customers & concentrationPriority 74
    +45.2% revenue; 1 forward row(s); quote_verified
    Amazon's new agreement ties warrant vesting to binding purchase orders and up to $60 billion in purchases through 2036.
  7. Supply Chain and Inventory · Supply chain & operationsPriority 73
    3 sources (news, press_release, sec_filing); quote_verified
    Inventories at June 28, 2026: $8,379 million, up from $6,526 million at September 28, 2025
  8. Market Demand Trends · Demand, orders & backlogPriority 69
    3 sources (news, press_release, sec_filing); quote_verified
    Generali Investments Management Co LLC sold 7,968 shares of Qualcomm, reducing its stake by 77% in the second quarter.
  9. Guidance / Outlook · Guidance & outlookPriority 68
    2 sources (news, press_release); 8 forward row(s); quote_verified
    Qualcomm expects total non-handset revenues to grow to $40 billion by fiscal 2029
  10. Balance Sheet and Liquidity · Liquidity & cash positionPriority 66
    -7.3% assets (realized); 2 sources (press_release, sec_filing); structured_verified
    We had $2.3 billion of restricted cash related to Alphawave which reduced from $2,323 million at September 28, 2025 to $0 at June 28, 2026 (a $2,323 million decrease).
  11. Automotive Market Expansion · Capacity & footprint expansionPriority 65
    -7.2% revenue (realized); 2 sources (news, sec_filing); structured_verified
    QCT automotive revenues for the three months ended June 28, 2026 were $1,588 million compared to $4,015 million in the year ago quarter.
  12. Data Center Revenue Outlook · Guidance & outlookPriority 64
    2 forward row(s); quote_verified
    Qualcomm expects data center revenue to reach $5 billion in fiscal 2027.

Threads by pillar

Revenue & Demand Priority 89 · 6 threads

Costs & Margins Priority 83 · 4 threads

Capital & Balance Sheet Priority 86 · 5 threads

Strategy & Portfolio Priority 90 · 11 threads

Legal, Regulatory & Policy Priority 30 · 1 thread

Guidance & Outlook Priority 71 · 2 threads

Macro & Market Conditions Priority 63 · 2 threads

Management & Governance Priority 24 · 1 thread

Unclassified Priority 87 · 5 threads

Expected impact by metric

metricforward netforward grossrealized
revenue+325.8%+327.7%-23.6%
cash+5.5%+12.3%-7.2%
operating_income——-8.5%
liability——-5.7%
net_income——+113.5%
assets——-7.3%