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Update · November 4, 2026, market close: Reuters reported preliminary closing figures showing the Dow Jones up 3.04%, the S&P 500 up 1.58% and the Nasdaq Composite up 1.44%. The report highlighted divergent performance between major technology companies and data-center operators. Read the Reuters report.
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Qualcomm quarterly revenue falls 8% despite automotive growth
November 4, 2026. Qualcomm reported GAAP revenue of $10.322 billion for its fiscal fourth quarter, ended September 27, down 8% year over year. Handset chip revenue fell 26% to $5.137 billion, while automotive revenue rose 89% to $1.990 billion.
Why it matters
The divergence highlights pressure in handsets and growth in automotive applications. Qualcomm also announced a collaboration with Amazon for AI data centers and reiterated a $5 billion fiscal 2027 data-center revenue target. That is a target, not revenue already earned.
Rockstar Briefing analysis
Automotive growth contributes to diversification but did not offset the handset decline during the quarter. Assessing the strategy will require watching data-center execution, costs and margins as the company’s product mix changes.
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