Key Stats for Qualcomm Stock
- Price change for Qualcomm stock in last 6 months: 26%
- $QCOM Stock Price as of Oct. 19: $174
- 52-Week High: $260
- $QCOM Stock Price Target: $195
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What Happened?
Qualcomm (QCOM) will cut jobs around the world. CEO Cristiano Amon shared the plan in a memo to staff on Monday.
He called it a “performance-focused reduction” that follows the company’s annual employee reviews. Notifications start in November.
Amon said the goal is “a stronger performance culture” and also said the cuts target cases where the company “has consistently fallen short of expectations.”
The memo did not say how many jobs would go. Qualcomm had about 52,000 employees globally as of September last year.
Amon said business priorities, organizational needs, skills and expertise would guide the decisions. He wrote that as the business has grown, so have the skills it needs.
He added that the company must have the right people in the right roles.
This comes during a rough year for the stock. Qualcomm is a major smartphone chipmaker even as rising memory prices have hurt consumer electronics sales and weighed on demand.
Qualcomm stock is up only 1.5% in 2026. The S&P 500 is up more than 12% and the Philadelphia Semiconductor Index is up nearly 60%.
Shares were down about 1% in premarket trading on Tuesday.
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What the Market Is Telling Us About Qualcomm Stock
The gap with other chip stocks is the key point. Qualcomm stock has lagged because so much of its business depends on phones.
Management said the handset market could fall by a low-teens percentage this year and said this would cut Android chip revenue by 20%.
Apple is another drag. Qualcomm expects its share of the next iPhone launch to be materially below its earlier 20% estimate.
It expects Apple-related revenue to drop about 50% from the September to the December quarter.
The company’s plan is to shift toward new areas. In its July report, Qualcomm guided to Q4 revenue of $9.7 billion to $10.5 billion.
Non-handset revenue grew 28% last quarter. Automotive revenue hit a record $1.6 billion, up 61%. Management expects data center revenue of $5 billion in fiscal 2027 and $15 billion in fiscal 2029.
Costs are also rising. Management expects operating expenses of about $2.7 billion next quarter as it invests in data centers and adds Modular.
The job cuts may help reshape the team for this new focus, though the memo gave no cost figures.
For Qualcomm stock, the next step is proof. Investors want to see data center revenue start in the December quarter.
Anyone watching Qualcomm stock will also look for details on the size of the cuts.
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So what is Qualcomm stock actually worth?
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
