QUALCOMM Incorporated (QCOM)

In March 2026, Qualcomm raised its quarterly dividend by 3.4% and authorized a new $20 billion stock repurchase program. The stock fell in February 2026 due to memory pressures impacting its outlook, and declined by 25.5% over the past three months ending April 2026. Qualcomm and other industry leaders committed to a 6G trajectory towards commercialization starting from 2029 onwards in March 2026. Qualcomm reported a record-breaking first quarter for fiscal year 2025, exceeding its guidance with robust growth across diversified business segments. The company provided an outlook for the second fiscal quarter of 2025, projecting continued strength driven by its diversified portfolio.

Qualcomm's product and service demand exhibits seasonality, particularly influenced by the smartphone market. The QCT segment experiences a seasonally strong fiscal first quarter due to holiday season sales, while the second fiscal quarter typically sees sequential declines in QCT handset revenue. The QTL segment tends to have a seasonally strong fiscal second quarter as it collects fees on the number of smartphones sold in the preceding fiscal first quarter.

QUALCOMM, Inc. is an American multinational corporation specializing in developing and commercializing foundational technologies for the wireless industry, operating primarily within the manufacturing, telecommunications, and semiconductor sectors. Qualcomm's core business revolves around wireless technology, intelligent computing, and connectivity, integrating high-performance, low-power computing with advanced AI capabilities. The company's major products and technologies include Snapdragon Platforms, modems, RF-Front End Modules, automotive solutions, IoT solutions, AI Chips, and wireless communication technologies. The company operates through three primary segments: Qualcomm CDMA Technologies (QCT), Qualcomm Technology Licensing (QTL), and Qualcomm Strategic Initiatives (QSI).

Qualcomm is headquartered in San Diego, California, United States, and has a significant global market presence. As early as 2001, 65% of Qualcomm's revenues originated from outside the United States.

Qualcomm maintains a strong brand reputation as a global leader in wireless technology innovation and a key player in the semiconductor and telecommunications industries. Apple's decision to build its own baseband chips is a medium to long-term headwind, with Apple aiming to eliminate all revenue from Qualcomm by fiscal year 2027. Qualcomm has been engaged in ongoing disputes with Arm Holdings, a key supplier, which could potentially impact its diversification initiatives. Qualcomm faces competition from domestic chipmakers and MediaTek in markets like China, leading to a projected 2% point topline share loss to MediaTek in the Android market through 2027. Memory shortages have reduced handset volumes by 10-15%, pressuring near-term chipset demand.

Qualcomm's ownership structure is predominantly characterized by institutional investors, who collectively hold a significant majority of the company's shares. Institutional ownership has been reported to be around 74.35% to 78% in 2025, and 76.97% currently. Major institutional owners include The Vanguard Group, Inc., BlackRock, Inc., and State Street Corp. Co-founder Irwin M. Jacobs is a significant individual shareholder, owning 1.74% of the company's shares.