Key Highlights

  • Qualcomm (NASDAQ:QCOM) was quoted at USD 155.50 in premarket trading on November 5, 2026, down 10.21%, per the premarket quote.
  • Fiscal third-quarter Revenue reached USD 9.95 billion with non-GAAP EPS of USD 2.21, reported on July 29, 2026.
  • Handset revenue fell 20% to USD 5.1 billion, while automotive hit a record USD 1.6 billion, up 61%.
  • July guidance for the fiscal fourth quarter was USD 9.7 billion to USD 10.5 billion in revenue and non-GAAP EPS of USD 2.05 to USD 2.25.

A Sharp Premarket Reset

Qualcomm (NASDAQ:QCOM) was quoted at USD 155.50 in premarket trading on November 5, 2026, down 10.21%, per the premarket quote. Simple arithmetic on those two numbers implies a prior close near USD 173. The company's fiscal fourth quarter ended September 27, 2026, and its quarterly Earnings exhibit is on file with the SEC, so traders are weighing final results against the outlook given on July 29, 2026. That outlook called for fiscal fourth-quarter revenue of USD 9.7 billion to USD 10.5 billion and non-GAAP EPS of USD 2.05 to USD 2.25, against published consensus of roughly USD 10.02 billion and USD 2.36 to USD 2.38.

Handsets Weaken While Automotive Climbs

Fiscal third-quarter results, reported on July 29, 2026, set the tone. Revenue was USD 9.95 billion, about 2.84% above the USD 9.67 billion estimate in published coverage, while non-GAAP EPS of USD 2.21 narrowly missed USD 2.22 and GAAP EPS was USD 1.87. Handset revenue fell 20% to USD 5.1 billion. Chief executive Cristiano Amon said the decline in Apple volumes was arriving faster than expected and that higher memory costs pushed buyers toward mid-tier phones. He added that because costs had risen, prices were rising, with a chip price increase planned for September 1. Automotive revenue reached a record USD 1.6 billion, up 61%, and IoT rose 9% to USD 1.83 billion. The company also raised its fiscal 2029 non-handset revenue target to USD 40 billion.

Margins, Expectations and What to Watch

A fabless chip designer's earnings lean on handset Volume and gross margin. Chip segment gross Margin was below its historical range of 48% to 50% in the July quarter, and a faster Apple decline or further memory cost Inflation could extend that pressure. The July EPS midpoint of USD 2.15 sat well under published expectations, which shows how little room the market had left for disappointment. Positives to monitor include automotive and IoT momentum and the pricing action. Investors should read the filed fourth-quarter release, the Earnings Call commentary and any fiscal first-quarter outlook. Premarket quotes can reverse by the opening bell, so the move is a snapshot, not a verdict.

Where Things Stand

Qualcomm (NASDAQ:QCOM) is sliding 10.21% in premarket trading because the market is resetting its view of handset-driven earnings, though the final verdict rests on the filed fourth-quarter numbers. The July outlook already pointed to EPS below consensus, handset revenue was down 20% and margins were under pressure. Against that, automotive grew 61% to a record and management set a USD 40 billion non-handset target for fiscal 2029. The next catalysts are the call commentary, the fiscal first-quarter outlook and chip pricing.