Qualcomm reported fiscal third-quarter revenue of 9.95 billion USD, above the 9.67 billion USD estimate, though non-GAAP EPS of 2.21 USD slightly missed the 2.22 USD estimate. Handset revenue fell 20%, while automotive revenue rose 61% to 1.59 billion USD. Management targets 40 billion USD in non-handset revenue by fiscal 2029, including more than 15 billion USD from data centers, supported by two hyperscaler custom silicon deals expected to start generating revenue in the December quarter. The author sets a 12-month price target of 218.57 USD with a Buy rating, versus a current price of 180.61 USD, with bull and bear cases at 237.99 USD and 185.64 USD. Risks include a 41.13% drop in operating income from rising memory and wafer costs, and expected Apple product revenue declines of about 50% from the September quarter to the December quarter. Qualcomm trades at 34 times earnings, compared with 42 for NVIDIA.
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Related tickers and likely impact
NVDA
• NeutralNvidia
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Semiconductors |
| Market cap | $5.1T |
| Close on 10/27/2026 | 217.88 |
| Change that session | +0.87% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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