QCOM · News · 20260917N

Gross Margin Drivers

QUALCOMM INC/DE · 2026-09-17 · Importance 17 · Surprise 24

Qualcomm faces margin pressure from rising semiconductor costs, weaker handset demand, and an unfavorable product mix. The reported pressure is concentrated in the handset business, where softer demand can reduce operating leverage and increase unit-cost pressure. Apple revenue is expected to decline, creating additional mix and customer-related pressure on Qualcomm’s profitability.