QUALCOMM INC/DE — Form 8-K
Filed July 29, 2026 · analyzed by the 8-K Agent
8-K
— Neutral
significance 42/100
What the filing says
Qualcomm reported Q3 FY26 revenue of $9.947B (down 4% YoY), GAAP EPS $1.87, Non-GAAP EPS $2.21. The company completed acquisition of Modular Inc for AI/software capabilities. Management raised fiscal 2029 non-handset revenue target to $40B (nearly double prior November 2024 target of ~$21B). QCT Automotive grew 61% YoY to $1.588B with 23 consecutive quarters of double-digit growth. Company returned $2.3B to shareholders (dividends + $1.4B buyback of 8M shares). Q4 FY26 guidance: $9.7B–$10.5B revenue; Non-GAAP EPS $2.05–$2.25.
Why this rating
Modular acquisition and doubled 2029 target signal strategic pivot; modest Q3 decline and near-term pricing headwinds offset optimism. Material but not transformational relative to $168B market cap.
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