Grech Patricia Y sold $35K of QCOM (indirect holdings)

QUALCOMM (QCOM) shares have declined 36.8% from their 52-week high, underperforming the semiconductor sector ETF (XSD). The company reported Q3 2026 results with a lower-than-expected Q4 EPS forecast, citing cost pressures and potential revenue declines from Apple. Despite this, analysts maintain a 'Moderate Buy' rating with a mean price target of $197.62, a 20.4% premium to current levels.

Qualcomm implemented a double-digit price increase for its chips, effective September 1, citing higher supplier costs. The hike impacts Apple, Samsung, and other manufacturers. Apple's reliance on Qualcomm is decreasing due to its own modem development, but some iPhone 18 Pro models may still use Qualcomm chips. The price increase is expected to contribute to higher phone prices.

Qualcomm (QCOM) shares rose 2.65% Monday, outperforming broader market declines. Analysts remain bullish but lowered price targets due to margin pressures and data center revenue risks. BofA Securities and Rosenblatt cite data center growth and higher input costs as key factors. QCOM is a significant holding in ETFs like FTXL and DIVN.

Qualcomm (QCOM) reported a gradual decline in quarterly revenue, ending at $9.9B in Q2 2026, while Sandisk (SNDK) experienced rapid growth, reaching $9.0B in the same period. Sandisk's revenue surged 371% year-over-year due to AI demand and strategic shifts. Qualcomm's revenue decline is attributed to competition in the handset market, while it transitions to serve the data center market.

Qualcomm (QCOM) stock fell 31% in three months, despite raising its long-term non-handset revenue target to $40B. Cost pressures and Apple's reduced orders impacted near-term guidance. Management expects non-handset growth to accelerate, offsetting Apple's decline. QCOM's performance lagged peers, with fiscal 2029 targets dependent on execution.

Qualcomm (QCOM) expects handset revenue to rise in Q4, with non-handset revenue projected to exceed $40B by 2029. Analysts' 'Strong Buy' ratings increased to 10 of 34. Data center and automotive sectors are key growth areas, with revenue expected to reach $5B by 2027. Management aims to reduce dependence on smartphones.