Qualcomm warns of faster Apple sales erosion, shares fall

QUALCOMM Incorporated

30/07/2026 09:40

** Qualcomm QCOM.O shares fall down 4.4% at $155.68 premarket
** Co forecast a weak Q4 and a steeper drop in Apple revenue, though it expects non-handset growth to more than make up for the shortfall by fiscal 2027
** Expects Q4 rev between $9.7 bln and $10.5 bln, vs. analysts' avg. estimate of $10.02 bln - data compiled by LSEG
** Co says supply constraints would reduce its share of components used in the next iPhone launch to well below its earlier estimate of 20%
** Company's diversification efforts were setting it up for stronger long-term growth, with accelerating non-handset revenue expected to more than compensate for the loss of Apple-related sales in fiscal 2027 - J.P. Morgan analysts 
** Stock is down ~9% YTD

 (Reporting by Rashika Singh in Bengaluru)
 ((Rashika.Singh@thomsonreuters.com;))