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Qualcomm’s Apple Exit Test — Android, Automotive & AI Must Fill The Gap!

Qualcomm Incorporated reported third-quarter fiscal 2026 revenues of $9.9 billion, aligning with the high end of guidance, and non-GAAP earnings per share of $2.21. The company highlighted continued strength in its diversification strategy, with non-handset revenues growing notably. Within its Qualcomm CDMA Technologies (QCT) segment, revenues amounted to $8.5 billion, driven by record automotive sales increasing 61% year-over-year and a 9% rise in Internet of Things (IoT) revenues, particularly in industrial networking and robotics. The licensing business generated $1.3 billion in revenues with a stable 69% earnings before tax margin. Qualcomm is actively expanding into data center markets, pursuing revenue from four product lines including connectivity, custom silicon, AI accelerators, and server-class CPUs, with commercial contributions expected to start in the December quarter. The company completed the acquisition of Modular Inc., enhancing its AI software stack capabilities aimed at creating an open AI software platform that integrates with heterogeneous hardware.