QUALCOMM Incorporated (QCOM) Earnings Call Transcripts
QUALCOMM Incorporated's Latest Earnings Call - September 8, 2026
In the fiscal Q4 2026 earnings call, QUALCOMM Incorporated (QCOM:US) announced a landmark custom silicon agreement with Amazon, which is expected to generate approximately $5 billion in revenue for fiscal 2027. This strategic move marks a significant step in QUALCOMM's diversification beyond smartphones, positioning the company for strong growth in the data center segment. The company maintained its long-term target of $15 billion in data center revenue by fiscal 2029, bolstered by this new partnership and ongoing engagements with other hyperscalers. Overall, QUALCOMM reported solid progress in its transformation strategy, with management expressing high confidence in achieving its revenue targets.
Reported metrics
| Metric | Value |
|---|---|
| Revenue | $5B (beat) |
| Long-term Revenue Target | $15B (inline) |
| Automotive Revenue Target | $29B (positive) |
| Operating Margin Target | 30% (positive) |
| Market Share in Automotive | largest chip supplier (positive) |
| Smartphone Market Impact | low double digits decline (negative) |
Guidance from management
Management maintained its target of $15 billion in data center revenue by fiscal 2029, indicating strong confidence in achieving this goal through existing and new customer engagements.
What management said
Yes. So you should think of our investments increase in OpEx trailing the growth significantly. And so as we look kind of 3 years out, we've set a target of 30% operating margins. But really kind of as we go from there, there is no reason to invest more. It's really just going to incremental revenue scale sitting on top of the existing investment base. And so excited about what that combination brings from a financia...
What analysts pressed on
Analysts expressed concerns about the sustainability of growth in the smartphone segment, particularly in the low-end market, and the potential impact of memory prices on device affordability. There were also questions regarding the execution of the new data center strategy and how quickly QUALCOMM can scale its operations to meet demand.
Main topics on the call
- Amazon Partnership — QUALCOMM announced a custom silicon agreement with Amazon, which includes a commitment of up to $60 billion in purchases over the next 10 years. CFO Akash Palkhiwala stated, "This makes our number of very high confidence...
- Data Center Growth Strategy — Management reiterated its target of $15 billion in data center revenue by fiscal 2029, stating that the Amazon deal is a core component of this strategy. Palkhiwala emphasized, "We are already in production with them," i...
- AI Accelerator Development — QUALCOMM is focusing on AI accelerators, with Palkhiwala highlighting the need for customized solutions for various workloads. He noted, "We have something unique to offer" in power-constrained environments, positioning ...
- Smartphone Market Dynamics — Management acknowledged challenges in the smartphone market, particularly in the low-end segment, but expressed optimism about recovery. Palkhiwala stated, "We are at the low part of the cycle, and we have all these new ...
Read the full QUALCOMM Incorporated transcript (September 8, 2026) → Summary generated from the call transcript; every figure above is stated by management on the record.
About QUALCOMM Incorporated
QUALCOMM Incorporated (QCOM) is a publicly listed company in the Semiconductors and Semiconductor Equipment industry, within the Information Technology sector. It trades on NasdaqGS and is based in US. EarningsCalls.dev maintains a free, full-text archive of its earnings call transcripts — 79 calls on record spanning January 7, 2020 to September 8, 2026. Every transcript is split into speaker-by-speaker segments with headline metrics, free to read or available through our REST API.
Earnings Call History
EarningsCalls.dev has 79 QUALCOMM Incorporated earnings call transcripts on record, spanning January 7, 2020 to September 8, 2026. Based on this history, QUALCOMM Incorporated reports quarterly. The most recent call on file is dated September 8, 2026. The full list is below — each row opens the complete, free-to-read transcript.
- Ticker
- QCOM
- Exchange
- NasdaqGS
- Country
- US
- Sector
- Information Technology
- Calls on record
- 79
- First call
- January 7, 2020
- Most recent
- September 8, 2026
- Reporting cadence
- quarterly