QCOM · 10-K · 2026A · Full report

Competition and Market Share

QUALCOMM INC/DE · 2026-11-04 · Importance 58 · Surprise 42

Qualcomm expects continued intense competition, including from vertical integration by major customers Apple and Samsung. Apple already uses its internally developed modem in certain smartphones, and Qualcomm expects Apple to primarily use its own modem products going forward. Qualcomm expects this shift to significantly reduce QCT revenue, results of operations and cash flows.

Key facts

• QUALCOMM INC/DE had $1.1 billion of potential additional exposure beyond amounts recorded or possible losses disclosed in pending legal and regulatory proceedings; such amounts could be material. source
• An unfavorable resolution of one or more legal proceedings involving QUALCOMM INC/DE could materially adversely affect its business, results of operations, financial condition or cash flows. source