The company projects first-quarter revenue between $10.4 billion and $11.2 billion, topping expectations despite a 26 percent plunge in fourth-quarter handset sales to $5.14 billion. To navigate these headwinds, CEO Cristiano Amon is targeting 60 percent year-over-year non-handset growth to completely replace Apple revenue by fiscal 2027. Major new agreements include a potential $60 billion AI and data-center chip deal with Amazon and a multi-year supplier partnership for SpaceX’s Starlink Mobile network starting in 2027. Meanwhile, sequential growth is already beginning to return to Android device sales following the sharp September quarter downturn.
Key points
Qualcomm models zero sales from Apple in its fiscal 2027 forecast, relying entirely on no…: Qualcomm models zero sales from Apple in its fiscal 2027 forecast, relying entirely on non-handset gains to replace that business.
Strategic expansions into cloud infrastructure and telecommunications aim to generate $15…: Strategic expansions into cloud infrastructure and telecommunications aim to generate $15 billion in annual data-center revenue by fiscal 2029.
A new multi-year deal will supply SpaceX’s Starlink Mobile network with baseband units, r…: A new multi-year deal will supply SpaceX’s Starlink Mobile network with baseband units, radio equipment, and software starting in 2027.
Sources checked by our analysis pipeline: 1
Qualcomm's smartphone chip sales miss estimates, shares fall
Nov 4 : Qualcomm on Wednesday fell short of Wall Street estimates for fourth-quarter revenue from its smartphone chips on sluggish demand and declining Apple-related revenue, sending its shares down more than 4 per cent in extended trading.
Demand for lucrative high-bandwidth storage for AI servers has pushed up memory chip prices, raising the cost of consumer electronics and squeezing smartphone processor designers such as Qualcomm.
Global smartphone shipments fell 20 per cent in the September quarter to a 14-year low, according to Counterpoint Research.
Revenue from Qualcomm's handset unit, which makes chips for smartphones, fell 26 per cent to $5.14 billion in the fourth quarter, dragging the chip segment's revenue down 8 per cent to $9.02 billion.
Analysts polled by Visible Alpha expected handset revenue of $5.25 billion.
In an interview with Reuters, Qualcomm CEO Cristiano Amon said sales of Android handsets are ticking upward again.
"Unlike some other companies, we called this memory thing early, and we said we prepared for it," Amon said. "We're starting to see sequential growth…
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Investors are reacting to a dual set of market headwinds that have begun constricting the chipmaker's primary revenue streams. These compounding pressures are directly undermining top-line sales performance across the company's core operations. As a result, market confidence has weakened, leading to an immediate drop in share value.
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