Qualcomm stock faces handset pressure ahead of November 4 results

Qualcomm is approaching its fiscal fourth-quarter report with smartphone demand under pressure and investors focused on the companys transition beyond handsets. The company will publish results after the US market close on Wednesday, November 4, and hold its conference call at 1:45 p.m. Pacific Time, according to Qualcomm.

Qualcomm stock traded at 148.34 euros on Lang & Schwarz at 12:33 CET on Monday, November 2, 2026. The real-time quote of Qualcomm stock reflects the current European trading indication.

Handsets set the near-term tone

In a preview published ahead of the report, Barchart said Qualcomm expects fiscal fourth-quarter revenue of 9.7 billion to 10.5 billion US dollars. The midpoint of that range is below the prior-year quarter, while adjusted earnings per share guidance of 2.05 to 2.25 US dollars also trails the 3.00 US dollars reported a year earlier.

The main drag is the QCT semiconductor business. Barchart cited expected handset revenue of about 5.2 billion US dollars, a decline of roughly 25 percent from the year-earlier period. Qualcomm also expects Apple-related revenue to fall by approximately 50 percent between the September and December quarters as its component share for the next iPhone launch declines.

Management expects Chinese Android handset demand to improve sequentially after reaching a likely trough in the third quarter. That recovery may not fully offset weaker industry conditions and the lower Apple contribution. Data-center investments and higher input costs add to the pressure on near-term profitability.

Automotive offers a counterweight

Qualcomm is trying to offset handset weakness through automotive, IoT and data-center products. The automotive business is expected to deliver another record quarter, with growth of approximately 60 percent on the year, while IoT revenue is expected to remain broadly in line with the prior-year period.

The company has set a longer-term target of more than 40 billion US dollars in non-handset QCT revenue by fiscal 2029. Automotive and IoT are expected to contribute more than 24 billion US dollars of that total, with data-center opportunities adding more than 15 billion US dollars. The November 4 report should give investors a clearer view of whether those businesses can offset the handset downturn.

The S&P 500 remains the relevant US market barometer for semiconductor investors.

Further earnings details and management commentary are due with the post-market release on November 4. More news and analyses on Qualcomm stock will follow the announcement.