Qualcomm Shares Slide 7% on Soft December-Quarter Outlook

### Session Tape - $QCOM+WL: -9.75% (reported session tape move)

## Catalyst Analysis: Guidance Miss Overshadows Beat Qualcomm Incorporated (NASDAQ:QCOM) posted non-GAAP earnings of $2.17 per share for the fiscal fourth quarter on Thursday, November 5, 2026, narrowly edging analyst expectations of $2.16. Revenue for the period landed between $10.32 billion and $10.44 billion, surpassing Wall Street forecasts.

Despite the top-and-bottom-line beat, investors zeroed in on headwinds in the smartphone segment. Handset chip revenue contracted 26% year over year to $5.14 billion, pressured by climbing memory costs and declining modem demand as Apple continues developing its proprietary technology. Compounding the pressure, Qualcomm issued an adjusted earnings outlook of $2.15 to $2.35 per share for the December quarter, with the midpoint falling below consensus estimates.

Automotive operations provided a bright spot, expanding nearly 89% year over year to about $1.99 billion as the chipmaker works to diversify away from smartphone dependence.

## $QCOM+WL Technical Analysis & Key Risk Watch

With shares trading down following the guidance update, market participants are monitoring whether near-term cost pressures and handset deceleration will trigger extended consolidation or test lower support boundaries.

### Money Play - If Qualcomm faces prolonged smartphone segment headwinds and margin squeeze from rising memory costs, watch $QCOM+WL for further downside testing near previous session support levels.

### Summary of Key Metrics - Q4 Non-GAAP EPS: $2.17 (vs. $2.16 estimated) - Q4 Revenue: $10.32B – $10.44B - Handset Chip Revenue: $5.14B (-26% YoY) - Automotive Revenue: $1.99B (+89% YoY) - Q1 Adjusted EPS Outlook: $2.15 – $2.35 (midpoint below consensus)