Qualcomm (QCOM) will notify employees of global, performance-based job cuts starting in November, according to a memo from CEO Cristiano Amon that did not give a headcount. The company had about 52,000 employees at the end of fiscal 2025. In fiscal Q3, handset revenue fell 20% to $5.09 billion while automotive revenue rose 61% to $1.59 billion. Fiscal Q4 EPS guidance of $2.05 to $2.25 trails the $2.36 consensus, and Apple revenue is declining faster than planned. Management targets $40 billion in non-handset revenue by fiscal 2029, and Qualcomm reports fiscal Q4 results on November 4.
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AAPL
• NeutralApple Inc.
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Technology Hardware, Storage & Peripherals |
| Market cap | $5.1T |
| Close on 10/26/2026 | 343.98 |
| Change that session | -1.08% |
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