Qualcomm shares slide 38% from 2026 high as analysts turn more positive
AI Market Summary
Qualcomm shares are highlighted as having de-rated sharply (~38% off YTD highs) amid weaker handset demand, margin pressure, and an expected faster Apple-related revenue decline starting fiscal Q4 2026. Offsetting this, management raised its non-handset QCT revenue target to >$40B by FY2029, driven by automotive, IoT, and a staged data-center push, while analyst sentiment has modestly improved.
Impact level
● Medium
Affected assets
NCSKQCOM2USD/USDT+1.04%
AI Insight · NCSKQCOM2USD/USDTAI Insight
● Neutral
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Qualcomm shares have fallen about 38% from their year-to-date high, while the company reported fiscal third-quarter revenue down 4% year over year to $9.9 billion and a 20% drop in handset revenue. The company now expects non-handset QCT revenue to exceed $40 billion by fiscal 2029, nearly doubling its previous $22 billion goal, with automotive and IoT contributing more than $24 billion and data centers over $15 billion. Management also projects data center revenue of about $5 billion in fiscal 2027. Analyst sentiment has improved in recent months.
