US macro
Take
Saturday, August 22, 2026
QCOM is a handset company trying to become an auto/IoT/data-center company, with 46% of sales in China. Q3 FY26: $9.95B, handsets −20%, auto+IoT +28%. Spot $161 is −38% from $260 and $43 under the $204 street mean. Trade the 157.50/170 box and the China unit tape, not the FY29 $40B non-handset slide.
Last cash session Friday Aug 21 · close $160.75 · +$0.01
Price
QCOM
6M +12.70%
Snapshot
Handset trough, auto compounding
Market cap
$168.8B
vs 52-week
-38.15%
China FY25
46%
of revenue
Q3 revenue
$9.9B
-4%
Handsets
$5.1B
-20%
Auto + IoT
+28%
combined YoY
Non-GAAP EPS
$2.21
GAAP $1.87
Q4 guide
$9.7B–10.5B
Street
38 analysts
$204
Mean target · +26.91% vs spot
High $250 · Low $145 · Median $200
24
Buy
12
Hold
2
Sell
Overweight
tilt
Next
Aug 28 expiry
2026-08-28
157.50 straddle and 170 call wall. First pin of the week.
News
QCOM headlines
No headlines cleared the filter.
Street
What changed after the Q3 print
| Date | Firm | Action | Target |
|---|---|---|---|
| 07-31 | Baird | Outperform, PT trimmed | $195from 210 |
| 07-31 | RBC | Outperform | $200 |
| 07-30 | Morgan Stanley | Equal-weight | $175 |
| 07-30 | Bank of America | Buy | $220 |
| 07-30 | JPMorgan | Overweight | $210 |
| 07-30 | Goldman | Buy | $215 |
| 07-30 | Barclays | Overweight | $205 |
| 07-30 | Piper Sandler | Neutral | $165 |
Quotes delayed. Options from Cboe delayed chain. Not investment advice, not a solicitation, and not affiliated with QUALCOMM Incorporated.