QUALCOMM Incorporated (QCOM) Stock

QUALCOMM Incorporated (QCOM) is a Technology stock trading at $171.40 (as of 2026-07-17), with a market capitalization of $180.66B and a trailing P/E of 18.2. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

QUALCOMM Incorporated develops and commercializes technologies for the wireless industry. It operates through segments including QCT, which develops and supplies integrated circuits and system software for wireless communications and related uses; QTL, which licenses portions of its intellectual property; and QSI, which includes strategic investments and support for new product and industry development.

Understand QUALCOMM Incorporated: how it makes money

QUALCOMM develops and commercializes foundational wireless technologies, it makes money by selling 3G/4G/5G integrated circuits and system software (QCT) and by licensing its wireless technology (QTL), with additional strategic initiatives that include IoT.

Qualcomm’s profit model is a mix of cyclical chip and system demand in QCT, plus technology licensing revenue in QTL, so earnings can move with handset and broader wireless spending even if licensing provides a different demand profile.

Revenue by segment (latest quarter)
QCT	$7.2B
QTL	$1.8B
QSI	$1.8B

Business quality (Solid): Clear segment structure (QCT, QTL, QSI) and operating focus on wireless chip demand, with an added licensing component that can diversify the revenue base, but investors should watch how much results depend on QCT and handset-related revenue streams.

Valuation: At 20× earnings, QCOM trades 60% below the Semiconductors average (51×). Note: one-time items can distort reported P/E.

Bull case

Diversified wireless monetization, QUALCOMM supplies integrated circuits and system software for wireless voice and data, and it also licenses foundational wireless technologies: This can support both QCT-related product exposure and QTL licensing revenue within the same company.
QCT handset exposure is measurable in reported metrics: With a dedicated handset revenue line item inside QCT, investors can track how handset demand changes feed into the core chip business.

Bear case

QCT is tied to wireless device and network equipment demand: If handset or other wireless end-market spending weakens, QCT revenues can fall, which can pressure overall results because QCT is the largest operating component in the provided breakdown.
Licensing outcomes depend on who uses QUALCOMM’s technology: If adoption of licensed wireless technology slows or licensing terms change, Licensing revenues can decline and partially offset QCT variability.

Valuation — source: SEC EDGAR (first-party)
Price	$171.40
Market Cap	$180.66B
P/E Ratio	18.2
EV / EBITDA	14.3
Price / Book	6.62
Price / Sales	4.06
FCF Yield	9.4%
DCF Value (model)	$81.47
DCF Upside vs Price	-52.5%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$44.28B
Net Margin	12.5%
Revenue Growth (YoY)	-3.5%
EPS Growth (YoY)	171.4%
FCF Growth (YoY)	170.6%

Financial Health — source: SEC EDGAR
Altman Z-Score	6.48 (safe)
Piotroski F-Score	6/9 (moderate)

Valuation vs Sector & Industry
Stock P/E	18.2
Sector P/E (Technology)	34.7
Industry P/E (Electronic Equipment)	40.6
vs Sector	-47.5%
vs Industry	-55.1%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Insider Sells (12mo)	31
Top Institutional Holder	VANGUARD GROUP INC ($19.52B)
Institutional Holders Tracked	10
Congressional Trades (recent)	10

Company
Sector	Technology
Industry	Electronic Equipment
CEO	Cristiano Renno Amon
Employees	49,000
Country	US
IPO Date	1991-12-13

Related Companies (Business model: Fabless Semiconductors; 8 closest by market cap; US-domiciled)

Data as of 2026-07-17.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.