𝗤𝘂𝗮𝗹𝗰𝗼𝗺𝗺 𝗤𝟯’𝟮𝟲: 𝗥𝗲𝘃𝗲𝗻𝘂𝗲 𝗮𝘁 𝗛𝗶𝗴𝗵 𝗘𝗻𝗱 𝗼𝗳 𝗚𝘂𝗶𝗱𝗮𝗻𝗰𝗲; 𝗔𝘂𝘁𝗼𝗺𝗼𝘁𝗶𝘃𝗲 𝗮𝗻𝗱 𝗜𝗼𝗧 𝗢𝗳𝗳𝘀𝗲𝘁 𝗛𝗮𝗻𝗱𝘀𝗲𝘁 𝗗𝗲𝗰𝗹𝗶𝗻𝗲

@Qualcomm reported Q3 revenue of $10.4 billion, at the high end of its guidance. Handset revenue declined 26% YoY, although this was partly offset by strong growth in the Automotive and continued expansion in the IoT segment.

𝗞𝗲𝘆 𝗧𝗮𝗸𝗲𝗮𝘄𝗮𝘆𝘀:
• Auto revenue grew by 89% YoY to reach $2 billion in Q3, marking a quarterly inflection point, whereas Qualcomm’s automotive annualized fiscal run rate reached $8 billion, $1 billion more than the guidance provided last quarter.

• IoT segment revenue reached $1.9 billion, driven by growth in the industrial networking and robotics category, reflecting continued momentum in its industrial AI portfolio.

• Qualcomm has partnered with @SpaceX to supply Dragonwing Cellular Infrastructure platforms for powering Starlink Mobile’s terrestrial base stations.

• The handset business remained under pressure from industry-wide memory constraints impacting global smartphone demand. QCT handset revenue stood at $5.1 billion in Q3.

• Data Center will be the next major growth driver for Qualcomm, with a revenue target of $5 billion for FY 2027.

• Qualcomm expects Q1 FY2027 revenue of $10.4 billion–$11.2 billion (-9% to -15% YoY decline). Handset revenue is projected to decline by a mid-single-digit percentage sequentially, whereas the QCT non-handset segment will be the next growth driver for Qualcomm.

𝗥𝗲𝗮𝗱 𝗼𝘂𝗿 𝗶𝗻-𝗱𝗲𝗽𝘁𝗵 𝗮𝗻𝗮𝗹𝘆𝘀𝗶𝘀 𝗼𝗳 𝗤𝘂𝗮𝗹𝗰𝗼𝗺𝗺’𝘀 𝘀𝘁𝗿𝗮𝘁𝗲𝗴𝘆, 𝗰𝗼𝗺𝗽𝗲𝘁𝗶𝘁𝗶𝘃𝗲 𝗽𝗼𝘀𝗶𝘁𝗶𝗼𝗻𝗶𝗻𝗴 𝗮𝗻𝗱 𝗼𝗽𝗽𝗼𝗿𝘁𝘂𝗻𝗶𝘁𝗶𝗲𝘀 𝗮𝘀 𝗶𝘁 𝗯𝘂𝗶𝗹𝗱𝘀 𝗮 𝗳𝘂𝗹𝗹-𝘀𝘁𝗮𝗰𝗸 𝗔𝗜 𝗲𝗰𝗼𝘀𝘆𝘀𝘁𝗲𝗺 𝘀𝗽𝗮𝗻𝗻𝗶𝗻𝗴 𝗱𝗮𝘁𝗮 𝗰𝗲𝗻𝘁𝗲𝗿𝘀 𝘁𝗼 𝗱𝗲𝘃𝗶𝗰𝗲𝘀:
https://counterpointresearch.com/en/insights/qualcomm-invesetor-day-2026-ai-datacenters

𝗔𝗹𝘀𝗼 𝗿𝗲𝗮𝗱 𝗼𝘂𝗿 𝗮𝗻𝗮𝗹𝘆𝘀𝗶𝘀 𝗼𝗻 𝗤𝘂𝗮𝗹𝗰𝗼𝗺𝗺’𝘀 𝗛𝗕𝗖 𝘀𝘁𝗿𝗮𝘁𝗲𝗴𝘆 𝗮𝗻𝗱 𝘂𝗻𝗱𝗲𝗿𝘀𝘁𝗮𝗻𝗱 𝗵𝗼𝘄 𝗵𝗶𝗴𝗵-𝗯𝗮𝗻𝗱𝘄𝗶𝗱𝘁𝗵 𝗺𝗲𝗺𝗼𝗿𝘆 𝗶𝗻𝗻𝗼𝘃𝗮𝘁𝗶𝗼𝗻𝘀 𝗰𝗼𝘂𝗹𝗱 𝗵𝗲𝗹𝗽 𝗮𝗱𝗱𝗿𝗲𝘀𝘀 𝘁𝗵𝗲 𝗴𝗿𝗼𝘄𝗶𝗻𝗴 𝗺𝗲𝗺𝗼𝗿𝘆 𝗯𝗼𝘁𝘁𝗹𝗲𝗻𝗲𝗰𝗸 𝗶𝗻 𝘁𝗵𝗲 𝗔𝗜 𝗲𝗿𝗮: https://counterpointresearch.com/en/insights/the-trillion-dollars-bottleneck-inside-qualcomms-high-bandwidth-compute-bet-blog

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