Qualcomm’s fiscal Q4 2026 earnings, released on November 4, offer a telling set of numbers: quarterly revenue of $10.32 billion, down 8% year over year; handset revenue of $5.14 billion, down 26%; and automotive revenue of $1.99 billion, up 89%. With its traditional handset chip business under pressure while automotive grows rapidly, this sharp divergence is changing how outsiders see Qualcomm.
More notably, Qualcomm(QCOM 0.00%↑) has extended its expansion into AI data centers. The company previously set a data center revenue target of $5 billion for fiscal 2027, rising to more than $15 billion by fiscal 2029. In September, Qualcomm announced a multi-generation custom chip partnership with Amazon(AMZN 0.00%↑ ), and it then reached a multi-year agreement with SpaceX(SPCX 0.00%↑) to take part in building Starlink Mobile’s terrestrial 5G network. With several new businesses landing in quick succession, Qualcomm’s technology footprint is extending from mobile devices into automotive, cloud computing, and communications infrastructure.
