QCOM · Earnings call · 2026Q3T · Full report

Customer Dynamics

QUALCOMM INC/DE · 2026-11-04 · Importance 46 · Surprise 42 · In source text

Qualcomm said it completed long-term QTL license renewals with Apple, Huawei, and Transsion, while its business planning incorporates Apple’s transition away from Qualcomm modems. Management characterized the agreements as providing stability for QTL and said its licensing revenue run rate remained unchanged. It said the next major renewal cycle begins in fiscal 2030, with no major handset OEM renewals expected in the intervening years. Qualcomm also described its Samsung business baseline as now above 70%, compared with a historical 50%, and said it was expanding its role in Samsung wearables and other devices.

Key facts

• QUALCOMM INC/DE's long-term strategic agreement with Amazon Web Services has potential revenue opportunity of up to $60 billion over the next 10 years.
• QUALCOMM INC/DE said the majority of its $5 billion fiscal 2027 data center revenue would come from two hyperscaler customers, one of which is Amazon.
• QUALCOMM INC/DE said two hyperscaler customers would contribute at very significant scale to the $5 billion fiscal 2027 data center target and continue into fiscal 2028 and 2029.
• QUALCOMM INC/DE said its Samsung share baseline had moved from 50% to above 70%, and it plans future Galaxy generations on that new baseline.
• QUALCOMM INC/DE secured a second optical-connectivity customer.
• QUALCOMM INC/DE's first-quarter 2027 data center shipments were expected to begin for two hyperscaler custom-silicon customers.
• QUALCOMM INC/DE's AWS agreement spans multiple product generations for custom AI-inference silicon and optical connectivity.
• QUALCOMM INC/DE's Oryon C1,000 CPU remained on track to ship to Meta as scheduled.

Impact estimates