Qualcomm Q3 Revenue Slips 4% to $9.9B, But BMW 10-Year Deal and Modular Close Signal AI Push
QCOM sits 22% above its 52-week low of $121.99.
Summary
Qualcomm's Q3 revenue fell 4% YoY to $9.9B, with handset chip sales dragging, but automotive surged 61% to $1.59B. The company closed its ~$3.9B all-stock acquisition of Modular, bringing in AI tools and naming Chris Lattner EVP of Advanced AI Software. A new 10-year deal with BMW to supply Snapdragon Digital Chassis chips as lead compute silicon provider adds a marquee automotive win. Samsung flagship phones now use Snapdragon in about 70% of units, reinforcing high-end share. The results follow last night's Reuters report on the profit decline and weak Q4 guidance; the new details on the BMW deal and Modular close provide fresh strategic context. Options activity shows put clustering at $165, and analyst consensus remains Hold with a median $205 target.
At the time of this announcement, QCOM was trading at $148.40 on NASDAQ in the Technology sector, with a market capitalization of approximately $164.1B. The 52-week trading range was $121.99 to $259.92. This news item was assessed with neutral market sentiment and an importance score of 8 out of 10. Source: Wiseek News.