Qualcomm's handset revenue fell 20% in its fiscal third quarter, making the chipmaker's Wednesday earnings report a key update on device demand and higher semiconductor input costs.
Apple is scheduled to discuss its fiscal fourth-quarter results at 5 p.m. ET Monday, Nov. 2. Qualcomm plans to publish its fourth-quarter and fiscal 2026 results after the market closes Wednesday, Nov. 4, followed by a conference call at 4:45 p.m. ET.
Qualcomm reported $5.086 billion in handset revenue for the quarter ended June 28, down from $6.328 billion a year earlier. Its July outlook for fiscal fourth-quarter revenue was $9.7 billion to $10.5 billion, with non-GAAP diluted earnings per share of $2.05 to $2.25.
The company said costs were increasing for wafer fabrication, assembly, testing, advanced packaging, memory and other materials. Qualcomm said it was adjusting product prices to reflect the higher expenses and expected the changes to support gross margins gradually.
Apple's most recently reported quarter, ended June 27, generated $109.4 billion in revenue, up 16% from a year earlier, and diluted earnings per share of $2.02. Apple said tariff refunds contributed about two percentage points to its 50.1% gross margin.
Spending reported by Microsoft, Alphabet and Amazon provides a broader technology-industry backdrop. For the three months ended Sept. 30, Microsoft reported $39.4 billion in additions to property and equipment, Alphabet reported $51.4 billion in property and equipment purchases, and Amazon reported $77.3 billion in purchases. Those figures use different reporting categories and are not directly comparable. Microsoft described continued investment in cloud and artificial intelligence infrastructure; Amazon said most of its technology infrastructure spending supports Amazon Web Services growth.
Amazon separately reported $75.9 billion in cash capital expenditures for the quarter and maintained its expectation of about $220 billion for 2026. Reuters reported in July that Qualcomm shares fell about 5% after the company warned of higher memory costs and weaker Apple-related revenue.
Apple announced a MacBook Pro with a tandem OLED display and touch capabilities on Oct. 28. The company said availability is scheduled to begin Nov. 6.
