QCOM · 10-Q · 2026Q2 · Full report

Export Controls / Regulatory Risk

QUALCOMM INC/DE · 2026-07-29 · Importance 44 · Surprise 42

Qualcomm continues to monitor global trade policy, including tariffs and related trade actions announced by the United States, China and other countries. Management states that future tariffs and related actions could affect demand, pricing and costs for Qualcomm products and technologies, while increasing uncertainty in customer-demand estimates. U.S.-China trade relations and national-security protection policies may negatively affect Qualcomm’s business, growth prospects and results of operations, particularly given the company’s significant China concentration.

Key facts

• We believe changes in global trade policy, including tariffs announced by the U.S., China and other countries, may negatively impact our demand, pricing and cost for products and contribute to increased excess or obsolete inventory or reserve charges. source
• We are involved in certain legal proceedings described in Note 5 and state that unfavorable resolutions could have a material adverse effect on our business, results of operations, financial condition or cash flows. source