QUALCOMM INC/DE, 10-Q filed on 7/30/2025
Quarterly Report
v3.25.2
Cover Page - shares
shares in Millions
9 Months Ended
Jun. 29, 2025
Jul. 28, 2025
Cover [Abstract]    
Entity Registrant Name QUALCOMM INC/DE  
Entity Central Index Key 0000804328  
Document Fiscal Year Focus 2025  
Document Fiscal Period Focus Q3  
Amendment Flag false  
Current Fiscal Year End Date --09-28  
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Jun. 29, 2025  
Document Transition Report false  
Entity File Number 0-19528  
Entity Registrant State of Incorporation DE  
Entity Employer ID 95-3685934  
Entity Address 5775 Morehouse Dr.  
Entity City San Diego  
Entity State CA  
Entity Zip Code 92121-1714  
City Area Code (858)  
Entity Phone Number 587-1121  
Title of 12(b) Security Common Stock, $0.0001 par value  
Trading Symbol QCOM  
Security Exchange Name NASDAQ  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   1,079
v3.25.2
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
shares in Millions, $ in Millions
Jun. 29, 2025
Sep. 29, 2024
Current assets:    
Cash and cash equivalents $ 5,448 $ 7,849
Restricted cash 2,323 0
Marketable securities 4,563 5,451
Accounts receivable, net 3,410 3,929
Inventories 6,338 6,423
Other current assets 2,831 1,579
Total current assets 24,913 25,231
Deferred tax assets 6,114 5,162
Property, plant and equipment, net 4,496 4,665
Goodwill 11,366 10,799
Other intangible assets, net 1,202 1,244
Other assets 6,771 8,053
Total assets 54,862 55,154
Current liabilities:    
Trade accounts payable 2,337 2,584
Payroll and other benefits related liabilities 1,586 1,834
Unearned revenues 285 297
Short-term debt 0 1,364
Other current liabilities 3,592 4,425
Total current liabilities 7,800 10,504
Unearned revenues 93 88
Long-term debt 14,788 13,270
Other liabilities 4,972 5,018
Total liabilities 27,653 28,880
Commitments and contingencies (Note 5)
Stockholders’ equity:    
Preferred stock, $0.0001 par value; 8 shares authorized; none outstanding $ 0 $ 0
Preferred stock, par value $ 0.0001 $ 0.0001
Preferred stock, shares authorized 8 8
Preferred stock, shares outstanding 0 0
Common stock and paid-in capital, $0.0001 par value; 6,000 shares authorized; 1,084 and 1,113 shares issued and outstanding, respectively $ 0 $ 0
Common stock, par value $ 0.0001 $ 0.0001
Common stock, shares authorized 6,000 6,000
Common stock, shares, issued 1,084 1,113
Common stock, shares, outstanding 1,084 1,113
Retained earnings $ 26,552 $ 25,687
Accumulated other comprehensive income 657 587
Total stockholders’ equity 27,209 26,274
Total liabilities and stockholders’ equity $ 54,862 $ 55,154
v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Jun. 29, 2025
Jun. 23, 2024
Jun. 29, 2025
Jun. 23, 2024
Revenues:        
Equipment and services $ 8,893 $ 7,993 $ 28,193 $ 24,259
Licensing 1,472 1,400 4,820 4,459
Total revenues 10,365 9,393 33,013 28,718
Costs and expenses:        
Cost of revenues 4,606 4,174 14,704 12,593
Research and development 2,226 2,259 6,672 6,591
Selling, general and administrative 771 664 2,200 1,998
Other 0 75 0 47
Total costs and expenses 7,603 7,172 23,576 21,229
Operating income 2,762 2,221 9,437 7,489
Interest expense (168) (168) (493) (517)
Investment and other income, net 358 226 748 768
Income from continuing operations before income taxes 2,952 2,279 9,692 7,740
Income tax expense (286) (171) (1,034) (545)
Income from continuing operations 2,666 2,108 8,658 7,195
Discontinued operations, net of income taxes 0 21 0 27
Net income $ 2,666 $ 2,129 $ 8,658 $ 7,222
Basic earnings per share, Continuing operations $ 2.44 $ 1.89 $ 7.85 $ 6.45
Basic loss per share, Discontinued operations 0 0.02 0 0.02
Basic earnings per share 2.44 1.91 7.85 6.47
Diluted earnings per share, Continuing operations 2.43 1.86 7.79 6.37
Diluted loss per share, Discontinued operations 0 0.02 0 0.02
Diluted earnings per share $ 2.43 $ 1.88 $ 7.79 $ 6.39
Shares used in per share calculations:        
Basic 1,092 1,116 1,102 1,116
Diluted 1,099 1,134 1,112 1,130
v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Jun. 29, 2025
Jun. 23, 2024
Jun. 29, 2025
Jun. 23, 2024
Statement of Comprehensive Income [Abstract]        
Net income $ 2,666 $ 2,129 $ 8,658 $ 7,222
Other comprehensive income, net of income taxes:        
Foreign currency translation gains (losses) 231 (34) 97 (13)
Net unrealized gains (losses) on available-for-sale debt securities 1 2 (21) 40
Net unrealized gains (losses) on derivative instruments 52 (4) 16 0
Other gains 1 1 0 1
Other reclassifications included in net income (23) (6) (22) 11
Total other comprehensive income (loss) 262 (41) 70 39
Comprehensive income $ 2,928 $ 2,088 $ 8,728 $ 7,261
v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
$ in Millions
9 Months Ended
Jun. 29, 2025
USD ($)
Jun. 23, 2024
USD ($)
Operating Activities:    
Net income from continuing operations $ 8,658 $ 7,195
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 1,231 1,267
Income tax provision less than income tax payments (1,535) (2,538)
Share-based compensation expense 2,120 1,951
Net gains on marketable securities and other investments (297) (314)
Impairment losses on other investments 93 66
Other items (23) (63)
Changes in assets and liabilities:    
Accounts receivable, net 535 221
Inventories 33 397
Other assets 361 120
Trade accounts payable (220) 691
Payroll, benefits and other liabilities (943) 654
Unearned revenues 3 (1)
Net cash used by operating activities from discontinued operations 0 (91)
Net cash provided by operating activities 10,016 9,555
Investing Activities:    
Capital expenditures (785) (785)
Purchases of debt and equity marketable securities (3,785) (4,156)
Proceeds from sales and maturities of debt and equity marketable securities 4,892 1,895
Acquisitions and other investments, net of cash acquired (711) (234)
Proceeds from other investments 53 70
Other items 7 (28)
Net cash used by investing activities (329) (3,238)
Financing Activities:    
Proceeds from short-term debt 998 799
Repayment of short-term debt (998) (799)
Proceeds from long-term debt 1,487 0
Repayment of long-term debt (1,365) (914)
Proceeds from issuance of common stock 201 196
Repurchases and retirements of common stock (6,347) (2,818)
Dividends paid (2,848) (2,739)
Payments of tax withholdings related to vesting of share-based awards (878) (797)
Other items (10) 2
Net cash used by financing activities (9,760) (7,070)
Effect of exchange rate changes on cash and cash equivalents (5) (4)
Net decrease in total cash, cash equivalents and restricted cash (78) (757)
Total cash and cash equivalents at beginning of period (including $77 classified as held for sale at September 24, 2023) 7,849 8,527
Total cash and cash equivalents at end of period (including $2,323 classified as restricted cash at June 29, 2025) 7,771 7,770
Disposal Group, Including Discontinued Operation, Cash and Cash Equivalents, Beginning of Period   $ 77
Restricted cash $ 2,323  
v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($)
$ in Millions
Total
Common stock and paid-in capital
Retained earnings
Accumulated other comprehensive income
Balance at beginning of period at Sep. 24, 2023 $ 21,581 $ 490 $ 20,733 $ 358
Common stock issued under employee benefit plans   196    
Repurchases and retirements of common stock   (1,959) (859)  
Share-based compensation   2,047    
Tax withholdings related to vesting of share-based payments   (797)    
Common stock issued in acquisition   23    
Net income     7,222  
Dividends     (2,823)  
Other comprehensive income (loss)       39
Balance at end of period at Jun. 23, 2024 $ 24,670 0 24,273 397
Dividends per share announced $ 2.45      
Balance at beginning of period at Mar. 24, 2024 $ 24,469 66 23,965 438
Common stock issued under employee benefit plans   1    
Repurchases and retirements of common stock   (455) (848)  
Share-based compensation   670    
Tax withholdings related to vesting of share-based payments   (282)    
Common stock issued in acquisition   0    
Net income     2,129  
Dividends     (973)  
Other comprehensive income (loss)       (41)
Balance at end of period at Jun. 23, 2024 $ 24,670 0 24,273 397
Dividends per share announced $ 0.85      
Balance at beginning of period at Sep. 29, 2024 $ 26,274 0 25,687 587
Common stock issued under employee benefit plans   201    
Repurchases and retirements of common stock   (1,526) (4,860)  
Share-based compensation   2,203    
Tax withholdings related to vesting of share-based payments   (878)    
Common stock issued in acquisition   0    
Net income     8,658  
Dividends     (2,933)  
Other comprehensive income (loss)       70
Balance at end of period at Jun. 29, 2025 $ 27,209 0 26,552 657
Dividends per share announced $ 2.59      
Balance at beginning of period at Mar. 30, 2025 $ 27,728 0 27,333 395
Common stock issued under employee benefit plans   0    
Repurchases and retirements of common stock   (418) (2,454)  
Share-based compensation   687    
Tax withholdings related to vesting of share-based payments   (269)    
Common stock issued in acquisition   0    
Net income     2,666  
Dividends     (993)  
Other comprehensive income (loss)       262
Balance at end of period at Jun. 29, 2025 $ 27,209 $ 0 $ 26,552 $ 657
Dividends per share announced $ 0.89      
v3.25.2
Basis of Presentation and Significant Accounting Policies Update
9 Months Ended
Jun. 29, 2025
Basis of Presentation [Abstract]  
Basis of Presentation and Significant Accounting Policies Update
Note 1. Basis of Presentation and Significant Accounting Policies Update
Financial Statement Preparation. These condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) for interim financial information and the instructions to Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements. In the opinion of management, the interim financial information includes all normal recurring adjustments necessary for a fair statement of the results for the interim periods. These condensed consolidated financial statements are unaudited and should be read in conjunction with our Annual Report on Form 10-K for our fiscal year ended September 29, 2024. Operating results for interim periods are not necessarily indicative of operating results for an entire fiscal year.
We operate and report using a 52-53 week fiscal year ending on the last Sunday in September. Each of the three and nine months ended June 29, 2025 and June 23, 2024 included 13 weeks and 39 weeks, respectively. Our fiscal year for 2025 will include 52 weeks.
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts and the disclosure of contingent amounts in our condensed consolidated financial statements and the accompanying notes. Actual results could differ from those estimates. Certain prior year amounts have been reclassified to conform to the current year presentation.
Recent Accounting Pronouncements.
Segment Reporting Disclosures: In November 2023, the Financial Accounting Standards Board (FASB) issued new requirements to disclose certain incremental segment information on an annual and interim basis, including (among other items) additional disclosure about significant segment expenses. We will adopt the new requirements for our annual periods starting in fiscal 2025 (and interim periods thereafter) on a retrospective basis.
Income Tax Disclosures: In December 2023, the FASB issued new requirements to disclose annually certain additional detailed income tax information related to the effective tax rate reconciliation and income taxes paid, among other items. We will adopt the new requirements starting in fiscal 2026 on a retrospective basis.
Income Statement - Expense Disaggregation Disclosures: In November 2024, the FASB issued new requirements to disclose certain additional expense information on an annual and interim basis, including (among other items) the amounts of purchases of inventory, employee compensation, depreciation and intangible asset amortization included within each income statement expense caption, as applicable. We will adopt the new requirements for our annual periods starting in fiscal 2028 (and interim periods thereafter) on a prospective basis.
v3.25.2
Composition of Certain Financial Statement Items
9 Months Ended
Jun. 29, 2025
Condensed Financial Information Disclosure [Abstract]  
Composition of Certain Financial Statement Items
Note 2. Composition of Certain Financial Statement Items
Inventories (in millions)
June 29,
2025
September 29,
2024
Raw materials$301 $340 
Work-in-process3,944 3,497 
Finished goods2,093 2,586 
$6,338 $6,423 
We have multi-year capacity purchase commitments with certain suppliers of our integrated circuit products. Total advance payments related to multi-year capacity purchase commitments recorded on our condensed consolidated balance sheets at June 29, 2025 and September 29, 2024 were $2.4 billion and $3.0 billion, respectively, of which $1.9 billion and $765 million were recorded in other current assets, respectively, and $557 million and $2.2 billion were recorded in other assets, respectively.
Other Current Liabilities (in millions)
June 29,
2025
September 29,
2024
Customer incentives and other customer-related liabilities
$1,823 $2,480 
Income taxes payable
938 1,080 
Other
831 865 
$3,592 $4,425 
Long-term Debt. During the third quarter of fiscal 2025, we repaid $1.4 billion of unsecured fixed-rate notes that matured in May 2025. In May 2025, we also issued $1.5 billion of unsecured fixed-rate notes, consisting of $500 million of 4.50% notes, $400 million of 4.75% notes and $600 million of 5.00% notes (collectively, May 2025 Notes) that mature on May 20, 2030, May 20, 2032 and May 20, 2035, respectively. The net proceeds from the May 2025 Notes will be used for general corporate purposes.
At June 29, 2025, the aggregate fair value of our outstanding fixed-rate notes, based on Level 2 inputs, was approximately $13.9 billion.
Interest Rate Swaps. During the third quarter of fiscal 2025, in connection with the issuance of the May 2025 Notes, we entered into interest rate swaps with an aggregate notional amount of $1.5 billion, which are designated as fair value hedges and allow us to effectively convert all of our fixed-rate payments due under the May 2025 Notes into floating-rate payments. We entered into these agreements, in part, to manage interest rate risk associated with our cash equivalents and marketable securities, in addition to changes in the fair value of our outstanding debt.
Revenues. We disaggregate our revenues by segment (Note 6), by products and services (as presented on our condensed consolidated statements of operations), and for our QCT (Qualcomm CDMA Technologies) segment, by revenue stream, which is based on the industry and application in which our products are sold (as presented below). In certain cases, the determination of QCT revenues by industry and application requires the use of certain assumptions. Substantially all of QCT’s revenues consist of equipment revenues that are recognized at a point in time, and substantially all of QTL’s (Qualcomm Technology Licensing) revenues represent licensing revenues that are recognized over time and are principally from royalties generated through our licensees’ sales of mobile handsets.
QCT revenue streams were as follows (in millions):
Three Months EndedNine Months Ended
June 29,
2025
June 23,
2024
June 29,
2025
June 23,
2024
Handsets (1)
$6,328 $5,899 $20,831 $18,766 
Automotive (2)984 811 2,904 2,012 
IoT (internet of things) (3)
1,681 1,359 4,811 3,740 
Total QCT revenues$8,993 $8,069 $28,546 $24,518 
(1) Includes revenues from products sold for use in mobile handsets.
(2) Includes revenues from products sold for use in automobiles, including connectivity, digital cockpit and advanced driver assistance systems (ADAS) and automated driving (AD).
(3) Primarily includes products sold for use in the following industries and applications: consumer (including personal computers (PCs), tablets, voice and music and extended reality (XR)), edge networking (including mobile broadband and wireless access points) and industrial (including handhelds, retail, tracking and logistics and utilities).
Revenues recognized from performance obligations satisfied (or partially satisfied) in previous periods generally include certain sales-based royalty revenues related to system software, certain amounts related to customer incentives and licensing revenues recognized related to devices sold in prior periods (including revenues resulting from certain settlements and adjustments to prior period royalty estimates, which include the impact of the reporting by our licensees of actual royalties due) and were as follows (in millions):
Three Months EndedNine Months Ended
June 29,
2025
June 23,
2024
June 29,
2025
June 23,
2024
Revenues recognized from previously satisfied performance obligations$189 $163 $691 $364 
Remaining performance obligations, which are primarily included in unearned revenues (as presented on our condensed consolidated balance sheets), represent the aggregate amount of the transaction price of certain customer contracts yet to be recognized as revenues as of the end of the reporting period and exclude revenues related to (a) contracts that have an original expected duration of one year or less and (b) sales-based royalties (i.e., future royalty revenues) pursuant to our license agreements. Our patent license agreements with key OEMs are generally long-term, with remaining terms expiring between fiscal 2027 and 2031.
Concentrations. A significant portion of our revenues are concentrated with a small number of customers/licensees of our QCT and QTL segments. The comparability of customer/licensee concentrations for the periods presented are impacted by the timing of customer/licensee device launches and/or innovation cycles and other seasonal trends, among other fluctuations in demand. Revenues from each customer/licensee that were 10% or greater of total revenues were as follows:
Three Months EndedNine Months Ended
June 29,
2025
June 23,
2024
June 29,
2025
June 23,
2024
Customer/licensee (x)
21%18%21%20%
Customer/licensee (y)
18172020
Customer/licensee (z)13111313
Investment and Other Income, Net (in millions)
Three Months EndedNine Months Ended
June 29,
2025
June 23,
2024
June 29,
2025
June 23,
2024
Interest and dividend income$160 $182 $495 $490 
Net gains on marketable securities
204 241 16 
Net gains on other investments
10 30 170 
Net gains on deferred compensation plan assets
84 26 65 153 
Impairment losses on other investments(52)(5)(93)(66)
Other(43)10 
$358 $226 $748 $768 
Discontinued Operations. On June 1, 2023, SSW Partners completed the sale of Veoneer’s Active Safety business to Magna International Inc. for net cash proceeds of $1.5 billion. On March 1, 2024, SSW Partners completed the sale of Veoneer’s Restraint Control Systems business (collectively with the Active Safety business, the Non-Arriver businesses) to American Industrial Partners Capital Fund VII. Through the date of disposition by SSW Partners, the results of operations and cash flows of Veoneer’s Non-Arriver businesses are presented as discontinued operations. Cash flows from investing and financing activities from discontinued operations reported for the periods presented were not material.
v3.25.2
Income Taxes
9 Months Ended
Jun. 29, 2025
Income Tax Disclosure [Abstract]  
Income Taxes
Note 3. Income Taxes
For the third quarter of fiscal 2025, we estimate our annual effective income tax rate to be 11% for fiscal 2025, which is lower than the U.S. federal statutory rate, primarily due to a significant portion of our income qualifying for preferential
treatment as foreign-derived intangible income (FDII) at a 13% effective tax rate, which includes certain additional benefits from the requirement to capitalize research and development expenditures for federal income tax purposes and a benefit from our federal research and development tax credit. Our effective tax rate of 10% for the third quarter of fiscal 2025 was lower than our estimated annual effective tax rate, primarily due to net discrete tax benefits realized in the third quarter of fiscal 2025.
On July 4, 2025, tax reform legislation included in the One Big Beautiful Bill Act (OBBB) was enacted in the United States. The impact of the OBBB is excluded from our estimated annual effective tax rate and provision for income taxes for the third quarter of fiscal 2025 as it is a nonrecognized subsequent event. The OBBB includes significant corporate tax reforms, including the permanent reinstatement of deducting domestic research and development expenditures as incurred beginning in fiscal 2026 (under prior law such expenditures were capitalized and amortized over five years). We expect this change will have a favorable effect on our cash flows from operations due to significantly lower cash tax payments. However, we expect it will adversely affect our total provision for income taxes and results of operations, as these expenditures will no longer result in a deferred tax asset that is established at the statutory rate of 21% rather than the current effective tax rate of 13% after considering the FDII deduction. The legislation also modifies international tax provisions, including changes to the FDII regime. Specifically, it renames FDII as Foreign-Derived Deduction Eligible Income (FDDEI), maintains the current FDDEI effective tax rate of 13% through fiscal 2026 and adjusts the FDDEI effective tax rate to a permanent 14% rate in fiscal 2027 (compared to 16% under prior law).
While we continue to evaluate the impact of these tax law changes, we may be subject to the corporate alternative minimum tax of 15% beginning in fiscal 2026, and we are assessing our ability to realize our existing deferred tax assets. As such, our future provision for income taxes and results of operations may be adversely affected (potentially materially).
v3.25.2
Capital Stock
9 Months Ended
Jun. 29, 2025
Equity, Attributable to Parent [Abstract]  
Capital Stock
Note 4. Capital Stock
Stock Repurchase Program. During the first quarter of fiscal 2025, we utilized the remaining repurchase authority under the $10.0 billion stock repurchase program announced on October 12, 2021 and we began repurchases under the $15.0 billion stock repurchase program announced on November 6, 2024, which has no expiration date. At June 29, 2025, $9.7 billion remained authorized for repurchase under our stock repurchase program.
Shares Outstanding. Shares of common stock outstanding at June 29, 2025 were as follows (in millions):
Balance at September 29, 2024
1,113 
Issued12 
Repurchased(41)
Balance at June 29, 2025
1,084 
Earnings Per Common Share. Basic earnings per share is computed by dividing net income by the weighted-average number of common shares outstanding during the reporting period. Diluted earnings per share is computed by dividing net income by the combination of the weighted-average number of common shares outstanding and the weighted-average number of dilutive common share equivalents, comprised of shares issuable under our share-based compensation plans, during the reporting period, using the treasury stock method. The following table provides information about the diluted earnings per share calculation (in millions):
 Three Months EndedNine Months Ended
June 29,
2025
June 23,
2024
June 29,
2025
June 23,
2024
Dilutive common share equivalents included in diluted shares18 10 14 
Shares of common stock equivalents not included because the effect would be anti-dilutive or certain performance conditions were not satisfied at the end of the period— 
v3.25.2
Commitments and Contingencies
9 Months Ended
Jun. 29, 2025
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies
Note 5. Commitments and Contingencies
Legal and Regulatory Proceedings.
ParkerVision, Inc. v. QUALCOMM Incorporated: On May 1, 2014, ParkerVision filed a complaint against us in the United States District Court for the Middle District of Florida alleging that certain of our products infringed seven ParkerVision patents. On August 21, 2014, ParkerVision amended the complaint, alleging that we infringed 11 ParkerVision patents and sought damages and injunctive and other relief. ParkerVision subsequently reduced the number of patents asserted to three. The asserted patents are now expired, and injunctive relief is no longer available. ParkerVision continues to seek damages related to the sale of many of our radio frequency (RF) products sold between 2008 and 2018. On March 23, 2022, the district court entered judgment in our favor on all claims and closed the case. On April 20, 2022, ParkerVision filed a notice of appeal to the United States Court of Appeals for the Federal Circuit (Federal Circuit). On September 6, 2024, the Federal Circuit reversed the judgment of the district court, citing certain substantive and procedural issues, and remanded the case to the district court for further proceedings. We intend to continue to vigorously defend ourselves in this matter.
Arm Ltd. v. QUALCOMM Incorporated: On August 31, 2022, Arm Ltd. (Arm) filed a complaint against us in the United States District Court for the District of Delaware. Our subsidiaries Qualcomm Technologies, Inc. and NuVia, Inc. (Nuvia) are also named in the complaint. The complaint alleges that following our acquisition of Nuvia, we and Nuvia breached Nuvia’s Architecture License Agreement with Arm (the Nuvia ALA) by failing to comply with the termination obligations under the Nuvia ALA. Arm is seeking specific performance, including that we cease all use of and destroy any technology that was developed under the Nuvia ALA, including processor core technology (which Arm alleges includes our custom Qualcomm Oryon CPU cores). Arm’s complaint also contended that we violated the Lanham Act through trademark infringement and false designation of origin through unauthorized use of Arm’s trademarks and sought associated injunctive and declaratory relief; however, Arm dismissed these claims prior to trial. On September 30, 2022, we filed our Answer and Counterclaim in response to Arm’s complaint denying Arm’s claims. Our counterclaim seeks a declaratory judgment that we did not breach the Nuvia ALA or the Technology License Agreement between Nuvia and Arm, and that, following the acquisition of Nuvia, our architected cores (including all further developments, iterations or instantiations of the technology we acquired from Nuvia) and System-on-Chip (SoC) products incorporating such cores are fully licensed under our existing Architecture License Agreement with Arm (the Qualcomm ALA) and Technology License Agreement with Arm (the Qualcomm TLA). A trial was held beginning on December 16, 2024, and on December 20, 2024, the jury found that (i) Qualcomm did not breach the Nuvia ALA and (ii) Qualcomm CPUs that include designs acquired in the Nuvia acquisition are licensed under the Qualcomm ALA. The jury was unable to reach a verdict with respect to Arm’s claim as to whether Nuvia breached the Nuvia ALA. The parties have filed various post-trial motions in this matter, including motions for judgment as a matter of law. We intend to continue to vigorously defend ourselves against Arm’s claims in this matter.
On April 18, 2024, we filed a separate complaint (captioned QUALCOMM Incorporated v. Arm Ltd.) against Arm in the United States District Court for the District of Delaware. The complaint alleges that Arm has breached the Qualcomm ALA by failing to provide certain deliverables that Arm is obligated to provide. The complaint seeks an order that Arm comply with its contractual obligations, damages, and additional relief. Arm moved to dismiss this complaint, and on October 30, 2024, the court denied Arm’s motion to dismiss. On December 16, 2024, we filed a First Amended Complaint alleging additional causes of action based on Arm improperly seeking to terminate the Qualcomm ALA and improperly publicizing that it was seeking to terminate the Qualcomm ALA. On June 3, 2025, we filed a Second Amended Complaint to add a claim that Arm has breached the Qualcomm TLA by failing to provide license offers at commercially reasonable prices and terms. Arm has moved to dismiss our amended complaint. Trial is scheduled to begin on March 9, 2026.
On October 22, 2024, Arm provided us with a notice alleging that we have breached the Qualcomm ALA by marketing products that contain CPUs that Arm alleges use designs, technology and code created by Nuvia employees prior to our acquisition of Nuvia; by seeking support and verification from Arm for additional products that use such alleged designs, technology and code; and by suing Arm for breach of the Qualcomm ALA. Arm’s notice asserts that it will have the right to terminate the Qualcomm ALA if such alleged breaches are not cured within 60 days of such notice. We disagree with Arm’s allegations, including that we are, or have been, in breach of the Qualcomm ALA. On January 8, 2025, Arm notified us that it was withdrawing its October 22, 2024 notice of breach and indicated that it has no current plan to terminate the Qualcomm ALA, while reserving its rights pending the outcome of the ongoing litigation.
Contingent Losses and Other Considerations: Litigation and investigations are inherently uncertain, and we face difficulties in evaluating or estimating likely outcomes or ranges of possible loss, particularly in antitrust and trade regulation investigations. We have not recorded any accrual at June 29, 2025 for contingent losses associated with the matters described
above based on our belief that losses, while reasonably possible, are not probable. Further, any possible amount or range of loss cannot be reasonably estimated at this time. The unfavorable resolution of one or more of these matters could have a material adverse effect on our business, results of operations, financial condition or cash flows. We are engaged in numerous other legal actions not described above (for example, certain consumer class action lawsuits in jurisdictions outside the United States, and other matters arising in the ordinary course of our business, including those relating to employment matters or the initiation or defense of proceedings relating to intellectual property rights) and, while there can be no assurance, we believe that the ultimate outcome of these other legal actions will not have a material adverse effect on our business, results of operations, financial condition or cash flows.
v3.25.2
Segment Information
9 Months Ended
Jun. 29, 2025
Segment Reporting [Abstract]  
Segment Information
Note 6. Segment Information
We are organized on the basis of products and services and have three reportable segments. We conduct business primarily through our QCT semiconductor business and our QTL licensing business. QCT develops and supplies integrated circuits and system software with advanced connectivity and high-performance, low-power computing technologies for use in mobile devices; automotive systems for connectivity, digital cockpit and ADAS/AD; and IoT including consumer electronic devices, industrial devices and edge networking products. QTL grants licenses or otherwise provides rights to use portions of our intellectual property portfolio, which includes certain patent rights essential to and/or useful in the manufacture and sale of certain wireless products. Our QSI (Qualcomm Strategic Initiatives) reportable segment makes strategic investments. We also have nonreportable segments, including QGOV (Qualcomm Government Technologies) and our Data Center business (formerly referred to as our cloud computing processing initiative).
The table below presents revenues and earnings (loss) before income taxes (EBT) for reportable segments (in millions):
Three Months EndedNine Months Ended
June 29,
2025
June 23,
2024
June 29,
2025
June 23,
2024
Revenues
QCT$8,993 $8,069 $28,546 $24,518 
QTL1,318 1,273 4,172 4,051 
QSI— — 18 
Reconciling items54 49 295 131 
Total$10,365 $9,393 $33,013 $28,718 
EBT
QCT$2,671 $2,181 $8,774 $7,062 
QTL942 894 3,028 2,907 
QSI149 14 179 121 
Reconciling items(810)(810)(2,289)(2,350)
Total$2,952 $2,279 $9,692 $7,740 
Reconciling items for revenues and EBT in the previous table were as follows (in millions):
Three Months EndedNine Months Ended
June 29,
2025
June 23,
2024
June 29,
2025
June 23,
2024
Revenues
Nonreportable segments$54 $49 $152 $131 
Unallocated revenues
— — 143 — 
$54 $49 $295 $131 
EBT
Unallocated revenues
$— $— $143 $— 
Unallocated cost of revenues(65)(54)(185)(168)
Unallocated research and development expenses(595)(549)(1,752)(1,664)
Unallocated selling, general and administrative expenses(182)(175)(554)(588)
Unallocated other income
— (75)— (47)
Unallocated interest expense(168)(168)(493)(518)
Unallocated investment and other income, net210 213 567 648 
Nonreportable segments(10)(2)(15)(13)
$(810)$(810)$(2,289)$(2,350)
Certain revenues were not allocated to our segments in our management reports because they were not considered in evaluating segment results. Unallocated revenues in the first nine months of fiscal 2025 were comprised of licensing revenues resulting from a settlement of a licensing dispute in the second quarter of fiscal 2025.
v3.25.2
Fair Value Measurements and Marketable Securities
9 Months Ended
Jun. 29, 2025
Fair Value Measurements [Abstract]  
Fair Value Measurements and Marketable Securities
Note 7. Fair Value Measurements and Marketable Securities
The following table presents our fair value hierarchy for assets and liabilities measured at fair value on a recurring basis at June 29, 2025 (in millions):
Level 1Level 2Level 3Total
Assets    
Cash equivalents$2,932 $257 $— $3,189 
Marketable securities:    
Corporate bonds and notes— 2,990 — 2,990 
Mortgage- and asset-backed securities— 813 — 813 
U.S. Treasury securities and government-related securities238 183 — 421 
Equity securities339 — — 339 
Total marketable securities577 3,986 — 4,563 
Derivative instruments— 91 — 91 
Other investments (1)
1,052 — 34 1,086 
Total assets measured at fair value$4,561 $4,334 $34 $8,929 
Liabilities    
Derivative instruments$— $139 $— $139 
Other liabilities (1)
1,049 — — 1,049 
Total liabilities measured at fair value$1,049 $139 $— $1,188 
(1) Other investments and other liabilities included in Level 1 are comprised of our deferred compensation plan assets and liabilities.
Marketable Securities. At June 29, 2025 and September 29, 2024, our marketable securities were all classified as current and were primarily comprised of available-for-sale debt securities (the vast majority of which were corporate bonds and notes).
The contractual maturities of available-for-sale debt securities were as follows (in millions):
June 29,
2025
Years to Maturity
Less than one year$1,066 
One to five years2,342 
Five to ten years
No single maturity date813 
Total$4,224 
Debt securities with no single maturity date included mortgage- and asset-backed securities.
v3.25.2
Acquisitions
9 Months Ended
Jun. 29, 2025
Business Combinations [Abstract]  
Business Combination Disclosure
Note 8. Acquisitions
Pending. On June 9, 2025, we announced that we reached an agreement with Alphawave IP Group plc (Alphawave) regarding the terms and conditions of a recommended acquisition by Aqua Acquisition Sub LLC, an indirect wholly-owned subsidiary of Qualcomm Incorporated, for the entire issued and to be issued ordinary share capital of Alphawave at an implied enterprise value of approximately $2.4 billion (as of the announcement date). The purchase price will be paid in cash or, if validly elected by eligible shareholders of Alphawave, in shares of our common stock or securities exchangeable for shares of our common stock. Alphawave is a developer of high-speed wired connectivity and compute technologies delivering IP, custom silicon, connectivity products and chiplets. The acquisition aims to further accelerate, and provide key assets for, our expansion into data centers. This acquisition is expected to complete during the first calendar quarter of 2026, subject to certain conditions, including receipt of regulatory approvals and approval from the requisite majority of Alphawave’s shareholders. In connection with the pending acquisition, we agreed to restrict the use of $2.3 billion in cash, which is presented as restricted cash on our condensed consolidated balance sheets, for the purpose of satisfying payment of the consideration to effect the acquisition.
Completed. During the first nine months of fiscal 2025, we acquired seven businesses for a total accounting purchase price of $668 million. These acquisitions were primarily for the purpose of executing on certain products and technology that support our diversification strategy in QCT industrial IoT and automotive. The acquired assets primarily consisted of $120 million of intangible assets and $532 million of goodwill, which was allocated to our QCT segment and which is primarily attributable to assembled workforce and certain synergies expected to arise after the acquisition.
v3.25.2
Pay vs Performance Disclosure - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Jun. 29, 2025
Jun. 23, 2024
Jun. 29, 2025
Jun. 23, 2024
Pay vs Performance Disclosure        
Net income $ 2,666 $ 2,129 $ 8,658 $ 7,222
v3.25.2
Insider Trading Arrangements
3 Months Ended
Jun. 29, 2025
shares
Trading Arrangements, by Individual  
Material Terms of Trading Arrangement On June 9, 2025, Cristiano Amon, our President and Chief Executive Officer, acting as trustee on behalf of his family trust, adopted a Rule 10b5-1 trading arrangement (as defined in Item 408 of Regulation S-K) providing for the sale of up to 150,000 shares of our common stock. The plan is scheduled to terminate on August 31, 2026.
Cristiano Amon [Member]  
Trading Arrangements, by Individual  
Title President and Chief Executive Officer
Rule 10b5-1 Arrangement Adopted true
Adoption Date June 9, 2025,
Arrangement Duration 448 days
Aggregate Available 150,000
v3.25.2
Basis of Presentation and Significant Accounting Policies Update (Policies)
9 Months Ended
Jun. 29, 2025
Basis of Presentation [Abstract]  
Fiscal Period, Policy
We operate and report using a 52-53 week fiscal year ending on the last Sunday in September. Each of the three and nine months ended June 29, 2025 and June 23, 2024 included 13 weeks and 39 weeks, respectively. Our fiscal year for 2025 will include 52 weeks.
Use of Estimates, Policy The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts and the disclosure of contingent amounts in our condensed consolidated financial statements and the accompanying notes. Actual results could differ from those estimates.
Recent Accounting Pronouncements, Policy
Segment Reporting Disclosures: In November 2023, the Financial Accounting Standards Board (FASB) issued new requirements to disclose certain incremental segment information on an annual and interim basis, including (among other items) additional disclosure about significant segment expenses. We will adopt the new requirements for our annual periods starting in fiscal 2025 (and interim periods thereafter) on a retrospective basis.
Income Tax Disclosures: In December 2023, the FASB issued new requirements to disclose annually certain additional detailed income tax information related to the effective tax rate reconciliation and income taxes paid, among other items. We will adopt the new requirements starting in fiscal 2026 on a retrospective basis.
Income Statement - Expense Disaggregation Disclosures: In November 2024, the FASB issued new requirements to disclose certain additional expense information on an annual and interim basis, including (among other items) the amounts of purchases of inventory, employee compensation, depreciation and intangible asset amortization included within each income statement expense caption, as applicable. We will adopt the new requirements for our annual periods starting in fiscal 2028 (and interim periods thereafter) on a prospective basis.
Revenue Recognition, Policy We disaggregate our revenues by segment (Note 6), by products and services (as presented on our condensed consolidated statements of operations), and for our QCT (Qualcomm CDMA Technologies) segment, by revenue stream, which is based on the industry and application in which our products are sold (as presented below). In certain cases, the determination of QCT revenues by industry and application requires the use of certain assumptions. Substantially all of QCT’s revenues consist of equipment revenues that are recognized at a point in time, and substantially all of QTL’s (Qualcomm Technology Licensing) revenues represent licensing revenues that are recognized over time and are principally from royalties generated through our licensees’ sales of mobile handsets.
Earnings Per Common Share, Policy Basic earnings per share is computed by dividing net income by the weighted-average number of common shares outstanding during the reporting period. Diluted earnings per share is computed by dividing net income by the combination of the weighted-average number of common shares outstanding and the weighted-average number of dilutive common share equivalents, comprised of shares issuable under our share-based compensation plans, during the reporting period, using the treasury stock method.
Segment Reporting, Policy We are organized on the basis of products and services and have three reportable segments.
v3.25.2
Composition of Certain Financial Statement Items (Tables)
9 Months Ended
Jun. 29, 2025
Condensed Financial Information Disclosure [Abstract]  
Inventories
Inventories (in millions)
June 29,
2025
September 29,
2024
Raw materials$301 $340 
Work-in-process3,944 3,497 
Finished goods2,093 2,586 
$6,338 $6,423 
Other Current Liabilities
Other Current Liabilities (in millions)
June 29,
2025
September 29,
2024
Customer incentives and other customer-related liabilities
$1,823 $2,480 
Income taxes payable
938 1,080 
Other
831 865 
$3,592 $4,425 
QCT Revenues Disaggregated
QCT revenue streams were as follows (in millions):
Three Months EndedNine Months Ended
June 29,
2025
June 23,
2024
June 29,
2025
June 23,
2024
Handsets (1)
$6,328 $5,899 $20,831 $18,766 
Automotive (2)984 811 2,904 2,012 
IoT (internet of things) (3)
1,681 1,359 4,811 3,740 
Total QCT revenues$8,993 $8,069 $28,546 $24,518 
(1) Includes revenues from products sold for use in mobile handsets.
(2) Includes revenues from products sold for use in automobiles, including connectivity, digital cockpit and advanced driver assistance systems (ADAS) and automated driving (AD).
(3) Primarily includes products sold for use in the following industries and applications: consumer (including personal computers (PCs), tablets, voice and music and extended reality (XR)), edge networking (including mobile broadband and wireless access points) and industrial (including handhelds, retail, tracking and logistics and utilities).
Revenue recognized from performance obligations satisfied in previous periods
Revenues recognized from performance obligations satisfied (or partially satisfied) in previous periods generally include certain sales-based royalty revenues related to system software, certain amounts related to customer incentives and licensing revenues recognized related to devices sold in prior periods (including revenues resulting from certain settlements and adjustments to prior period royalty estimates, which include the impact of the reporting by our licensees of actual royalties due) and were as follows (in millions):
Three Months EndedNine Months Ended
June 29,
2025
June 23,
2024
June 29,
2025
June 23,
2024
Revenues recognized from previously satisfied performance obligations$189 $163 $691 $364 
Customer Concentrations - Revenues Revenues from each customer/licensee that were 10% or greater of total revenues were as follows:
Three Months EndedNine Months Ended
June 29,
2025
June 23,
2024
June 29,
2025
June 23,
2024
Customer/licensee (x)
21%18%21%20%
Customer/licensee (y)
18172020
Customer/licensee (z)13111313
Investment and Other Income (Expense), Net
Investment and Other Income, Net (in millions)
Three Months EndedNine Months Ended
June 29,
2025
June 23,
2024
June 29,
2025
June 23,
2024
Interest and dividend income$160 $182 $495 $490 
Net gains on marketable securities
204 241 16 
Net gains on other investments
10 30 170 
Net gains on deferred compensation plan assets
84 26 65 153 
Impairment losses on other investments(52)(5)(93)(66)
Other(43)10 
$358 $226 $748 $768 
v3.25.2
Capital Stock Earnings per Common Share (Tables)
9 Months Ended
Jun. 29, 2025
Earnings Per Share [Abstract]  
Schedule of Capital Units
Shares Outstanding. Shares of common stock outstanding at June 29, 2025 were as follows (in millions):
Balance at September 29, 2024
1,113 
Issued12 
Repurchased(41)
Balance at June 29, 2025
1,084 
Schedule of Earnings Per Share, Basic and Diluted The following table provides information about the diluted earnings per share calculation (in millions):
 Three Months EndedNine Months Ended
June 29,
2025
June 23,
2024
June 29,
2025
June 23,
2024
Dilutive common share equivalents included in diluted shares18 10 14 
Shares of common stock equivalents not included because the effect would be anti-dilutive or certain performance conditions were not satisfied at the end of the period— 
v3.25.2
Segment Information (Tables)
9 Months Ended
Jun. 29, 2025
Segment Reporting [Abstract]  
Revenues and EBT for reportable segments
The table below presents revenues and earnings (loss) before income taxes (EBT) for reportable segments (in millions):
Three Months EndedNine Months Ended
June 29,
2025
June 23,
2024
June 29,
2025
June 23,
2024
Revenues
QCT$8,993 $8,069 $28,546 $24,518 
QTL1,318 1,273 4,172 4,051 
QSI— — 18 
Reconciling items54 49 295 131 
Total$10,365 $9,393 $33,013 $28,718 
EBT
QCT$2,671 $2,181 $8,774 $7,062 
QTL942 894 3,028 2,907 
QSI149 14 179 121 
Reconciling items(810)(810)(2,289)(2,350)
Total$2,952 $2,279 $9,692 $7,740 
Reconciling items for reportable segments - revenues
Reconciling items for revenues and EBT in the previous table were as follows (in millions):
Three Months EndedNine Months Ended
June 29,
2025
June 23,
2024
June 29,
2025
June 23,
2024
Revenues
Nonreportable segments$54 $49 $152 $131 
Unallocated revenues
— — 143 — 
$54 $49 $295 $131 
EBT
Unallocated revenues
$— $— $143 $— 
Unallocated cost of revenues(65)(54)(185)(168)
Unallocated research and development expenses(595)(549)(1,752)(1,664)
Unallocated selling, general and administrative expenses(182)(175)(554)(588)
Unallocated other income
— (75)— (47)
Unallocated interest expense(168)(168)(493)(518)
Unallocated investment and other income, net210 213 567 648 
Nonreportable segments(10)(2)(15)(13)
$(810)$(810)$(2,289)$(2,350)
Reconciling items for reportable segments - EBT
Reconciling items for revenues and EBT in the previous table were as follows (in millions):
Three Months EndedNine Months Ended
June 29,
2025
June 23,
2024
June 29,
2025
June 23,
2024
Revenues
Nonreportable segments$54 $49 $152 $131 
Unallocated revenues
— — 143 — 
$54 $49 $295 $131 
EBT
Unallocated revenues
$— $— $143 $— 
Unallocated cost of revenues(65)(54)(185)(168)
Unallocated research and development expenses(595)(549)(1,752)(1,664)
Unallocated selling, general and administrative expenses(182)(175)(554)(588)
Unallocated other income
— (75)— (47)
Unallocated interest expense(168)(168)(493)(518)
Unallocated investment and other income, net210 213 567 648 
Nonreportable segments(10)(2)(15)(13)
$(810)$(810)$(2,289)$(2,350)
v3.25.2
Fair Value Measurements (Tables)
9 Months Ended
Jun. 29, 2025
Fair Value Measurements [Abstract]  
Fair value hierarchy for assets and liabilities measured at fair value on a recurring basis
The following table presents our fair value hierarchy for assets and liabilities measured at fair value on a recurring basis at June 29, 2025 (in millions):
Level 1Level 2Level 3Total
Assets    
Cash equivalents$2,932 $257 $— $3,189 
Marketable securities:    
Corporate bonds and notes— 2,990 — 2,990 
Mortgage- and asset-backed securities— 813 — 813 
U.S. Treasury securities and government-related securities238 183 — 421 
Equity securities339 — — 339 
Total marketable securities577 3,986 — 4,563 
Derivative instruments— 91 — 91 
Other investments (1)
1,052 — 34 1,086 
Total assets measured at fair value$4,561 $4,334 $34 $8,929 
Liabilities    
Derivative instruments$— $139 $— $139 
Other liabilities (1)
1,049 — — 1,049 
Total liabilities measured at fair value$1,049 $139 $— $1,188 
(1) Other investments and other liabilities included in Level 1 are comprised of our deferred compensation plan assets and liabilities.
Investments Classified by Contractual Maturity Date
The contractual maturities of available-for-sale debt securities were as follows (in millions):
June 29,
2025
Years to Maturity
Less than one year$1,066 
One to five years2,342 
Five to ten years
No single maturity date813 
Total$4,224 
v3.25.2
Composition of Certain Financial Statement Items Inventories (Details) - USD ($)
$ in Millions
Jun. 29, 2025
Sep. 29, 2024
Inventory, Net [Abstract]    
Raw materials $ 301 $ 340
Work-in-process 3,944 3,497
Finished goods 2,093 2,586
Inventories $ 6,338 $ 6,423
v3.25.2
Composition of Certain Financial Statement Items Other Assets (Details) - USD ($)
$ in Millions
Jun. 29, 2025
Sep. 29, 2024
Long-Term Purchase Commitment [Line Items]    
Advance payment related to multi-year capacity commitments $ 2,400 $ 3,000
Other Current Assets    
Long-Term Purchase Commitment [Line Items]    
Advance payment related to multi-year capacity commitments 1,900 765
Other Assets    
Long-Term Purchase Commitment [Line Items]    
Advance payment related to multi-year capacity commitments $ 557 $ 2,200
v3.25.2
Composition of Certain Financial Statement Items Other Current Liabilities (Details) - USD ($)
$ in Millions
Jun. 29, 2025
Sep. 29, 2024
Other Liabilities, Current [Abstract]    
Customer incentives and other customer-related liabilities $ 1,823 $ 2,480
Income taxes payable 938 1,080
Other 831 865
Other current liabilities $ 3,592 $ 4,425
v3.25.2
Composition of Certain Financial Statement Items Debt (Details) - USD ($)
$ in Millions
9 Months Ended
Jun. 29, 2025
Jun. 23, 2024
Debt Instrument    
Repayment of long-term debt $ 1,365 $ 914
Level 2    
Debt Instrument    
Long-term Debt, Fair Value 13,900  
May 2025 Notes    
Debt Instrument    
Debt Instrument, Face Amount 1,500  
Fixed rate notes due May 2025    
Debt Instrument    
Repayment of long-term debt 1,400  
Fixed rate 4.50% due May 2030    
Debt Instrument    
Debt Instrument, Face Amount $ 500  
Debt Instrument, Interest Rate, Stated Percentage 4.50%  
Fixed rate 4.75% due May 2032    
Debt Instrument    
Debt Instrument, Face Amount $ 400  
Debt Instrument, Interest Rate, Stated Percentage 4.75%  
Fixed rate 5.00% due May 2035    
Debt Instrument    
Debt Instrument, Face Amount $ 600  
Debt Instrument, Interest Rate, Stated Percentage 5.00%  
v3.25.2
Composition of Certain Financial Statement Items Interest Rate Swaps (Details)
$ in Billions
Jun. 29, 2025
USD ($)
Interest Rate Swap | May 2025 Notes  
Derivative Instruments and Hedging Activities Disclosures [Line Items]  
Derivative, Notional Amount $ 1.5
v3.25.2
Composition of Certain Financial Statement Items Revenues (Details) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Jun. 29, 2025
Jun. 23, 2024
Jun. 29, 2025
Jun. 23, 2024
Revenue        
Revenues $ 10,365 $ 9,393 $ 33,013 $ 28,718
Revenues recognized from previously satisfied performance obligations $ 189 163 $ 691 364
Minimum        
Revenue        
Patent license agreement expiration period 2027   2027  
Maximum        
Revenue        
Patent license agreement expiration period 2031   2031  
QCT | Operating Segments        
Revenue        
Revenues $ 8,993 8,069 $ 28,546 24,518
Handsets | QCT        
Revenue        
Revenues [1] 6,328 5,899 20,831 18,766
Automotive | QCT        
Revenue        
Revenues [2] 984 811 2,904 2,012
IoT | QCT        
Revenue        
Revenues [3] $ 1,681 $ 1,359 $ 4,811 $ 3,740
[1] Includes revenues from products sold for use in mobile handsets.
[2] Includes revenues from products sold for use in automobiles, including connectivity, digital cockpit and advanced driver assistance systems (ADAS) and automated driving (AD).
[3] Primarily includes products sold for use in the following industries and applications: consumer (including personal computers (PCs), tablets, voice and music and extended reality (XR)), edge networking (including mobile broadband and wireless access points) and industrial (including handhelds, retail, tracking and logistics and utilities).
v3.25.2
Composition of Certain Financial Statement Items Concentrations (Details) - Revenue Benchmark - Customer Concentration Risk
3 Months Ended 9 Months Ended
Jun. 29, 2025
Jun. 23, 2024
Jun. 29, 2025
Jun. 23, 2024
Customer/licensee (x)        
Concentration Risk        
Concentration Risk, Percentage 21.00% 18.00% 21.00% 20.00%
Customer/licensee (y)        
Concentration Risk        
Concentration Risk, Percentage 18.00% 17.00% 20.00% 20.00%
Customer/licensee (z)        
Concentration Risk        
Concentration Risk, Percentage 13.00% 11.00% 13.00% 13.00%
v3.25.2
Composition of Certain Financial Statement Items Investment and Other Income (Expense), Net (Details) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Jun. 29, 2025
Jun. 23, 2024
Jun. 29, 2025
Jun. 23, 2024
Investment Income, Net [Abstract]        
Interest and dividend income $ 160 $ 182 $ 495 $ 490
Net gains on marketable securities 204 8 241 16
Net gains on other investments 5 10 30 170
Net gains on deferred compensation plan assets 84 26 65 153
Impairment losses on other investments (52) (5) (93) (66)
Other (43) 5 10 5
Investment and other income, net $ 358 $ 226 $ 748 $ 768
v3.25.2
Composition of Certain Financial Statement Items Discontinued Operations (Details)
$ in Billions
Jun. 01, 2023
USD ($)
Veoneer's Active Safety  
Discontinued Operations [Abstract]  
Disposal Group, Including Discontinued Operation, Consideration $ 1.5
v3.25.2
Income Taxes (Details)
3 Months Ended 12 Months Ended 15 Months Ended
Jun. 29, 2025
Sep. 26, 2027
Sep. 27, 2026
Sep. 28, 2025
Sep. 27, 2026
Income Taxes          
Effective income tax rate (benefit) 10.00%        
Forecast          
Income Taxes          
Effective income tax rate (benefit)       11.00%  
Forecast | FDII Effective Tax Rate          
Income Taxes          
Effective income tax rate (benefit)       13.00%  
Forecast | FDII Effective Tax Future Rate          
Income Taxes          
Effective income tax rate (benefit)   16.00%      
Forecast | FDDEI Effective Tax Rate | Subsequent Event          
Income Taxes          
Effective income tax rate (benefit)   14.00%   21.00% 13.00%
Forecast | Corporate alternative minimum tax | Subsequent Event          
Income Taxes          
Effective income tax rate (benefit)     15.00%    
v3.25.2
Capital Stock Share Repurchase Program (Details) - USD ($)
$ in Billions
Jun. 29, 2025
Nov. 06, 2024
Oct. 12, 2021
$10B stock repurchase program announced October 12, 2021      
Stock Repurchase Program      
Authorized amount     $ 10.0
$15B stock repurchase program announced November 6, 2024      
Stock Repurchase Program      
Authorized amount   $ 15.0  
Remaining authorized amount $ 9.7    
v3.25.2
Capital Stock Shares Outstanding (Details)
shares in Millions
9 Months Ended
Jun. 29, 2025
shares
Shares Outstanding [Abstract]  
Balance at September 29, 2024 1,113
Issued 12
Repurchased (41)
Balance at June 29, 2025 1,084
v3.25.2
Capital Stock Earnings per Common Share (Details) - shares
shares in Millions
3 Months Ended 9 Months Ended
Jun. 29, 2025
Jun. 23, 2024
Jun. 29, 2025
Jun. 23, 2024
Earnings Per Share [Abstract]        
Dilutive common share equivalents included in diluted shares 7 18 10 14
Shares of common stock equivalents not included because the effect would be anti-dilutive or certain performance conditions were not satisfied at the end of the period 2 0 1 5
v3.25.2
Commitments and Contingencies Legal and Regulatory Proceedings (Details)
$ in Millions
Jun. 29, 2025
USD ($)
Loss Contingencies [Line Items]  
Loss Contingency, Estimate of Possible Loss $ 0
v3.25.2
Segment Information (Details) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Jun. 29, 2025
Jun. 23, 2024
Jun. 29, 2025
Jun. 23, 2024
Segment Reporting Information [Line Items]        
Revenues $ 10,365 $ 9,393 $ 33,013 $ 28,718
Cost of revenues (4,606) (4,174) (14,704) (12,593)
Research and development expenses (2,226) (2,259) (6,672) (6,591)
Selling, general and administrative expenses (771) (664) (2,200) (1,998)
Other Operating Income (Expense), Net 0 (75) 0 (47)
Interest expense (168) (168) (493) (517)
EBT 2,952 2,279 9,692 7,740
Reconciling Items        
Segment Reporting Information [Line Items]        
Revenues 54 49 295 131
Cost of revenues (65) (54) (185) (168)
Research and development expenses (595) (549) (1,752) (1,664)
Selling, general and administrative expenses (182) (175) (554) (588)
Other Operating Income (Expense), Net 0 (75) 0 (47)
Interest expense (168) (168) (493) (518)
Investment and other (expense) income, net 210 213 567 648
EBT (810) (810) (2,289) (2,350)
Reconciling Items | Licensing Agreements        
Segment Reporting Information [Line Items]        
Revenues 0 0 143 0
QCT | Operating Segments        
Segment Reporting Information [Line Items]        
Revenues 8,993 8,069 28,546 24,518
EBT 2,671 2,181 8,774 7,062
QTL | Operating Segments        
Segment Reporting Information [Line Items]        
Revenues 1,318 1,273 4,172 4,051
EBT 942 894 3,028 2,907
QSI | Operating Segments        
Segment Reporting Information [Line Items]        
Revenues 0 2 0 18
EBT 149 14 179 121
Other Operating Segment        
Segment Reporting Information [Line Items]        
Revenues 54 49 152 131
Other Operating Segment | Reconciling Items        
Segment Reporting Information [Line Items]        
EBT $ (10) $ (2) $ (15) $ (13)
v3.25.2
Fair Value Measurements Fair Value Hierarchy (Details) - Fair Value, Recurring
$ in Millions
Jun. 29, 2025
USD ($)
Assets  
Cash equivalents $ 3,189
Marketable securities 4,563
Derivative instruments 91
Other investments (1) 1,086 [1]
Total assets measured at fair value 8,929
Liabilities  
Derivative instruments 139
Other liabilities (1) 1,049 [1]
Total liabilities measured at fair value 1,188
Level 1  
Assets  
Cash equivalents 2,932
Marketable securities 577
Derivative instruments 0
Other investments (1) 1,052 [1]
Total assets measured at fair value 4,561
Liabilities  
Derivative instruments 0
Other liabilities (1) 1,049 [1]
Total liabilities measured at fair value 1,049
Level 2  
Assets  
Cash equivalents 257
Marketable securities 3,986
Derivative instruments 91
Other investments (1) 0 [1]
Total assets measured at fair value 4,334
Liabilities  
Derivative instruments 139
Other liabilities (1) 0 [1]
Total liabilities measured at fair value 139
Level 3  
Assets  
Cash equivalents 0
Marketable securities 0
Derivative instruments 0
Other investments (1) 34 [1]
Total assets measured at fair value 34
Liabilities  
Derivative instruments 0
Other liabilities (1) 0 [1]
Total liabilities measured at fair value 0
Corporate bonds and notes  
Assets  
Marketable securities 2,990
Corporate bonds and notes | Level 1  
Assets  
Marketable securities 0
Corporate bonds and notes | Level 2  
Assets  
Marketable securities 2,990
Corporate bonds and notes | Level 3  
Assets  
Marketable securities 0
U.S. Treasury and government-related Securities  
Assets  
Marketable securities 421
U.S. Treasury and government-related Securities | Level 1  
Assets  
Marketable securities 238
U.S. Treasury and government-related Securities | Level 2  
Assets  
Marketable securities 183
U.S. Treasury and government-related Securities | Level 3  
Assets  
Marketable securities 0
Mortgage- and asset-backed securities  
Assets  
Marketable securities 813
Mortgage- and asset-backed securities | Level 1  
Assets  
Marketable securities 0
Mortgage- and asset-backed securities | Level 2  
Assets  
Marketable securities 813
Mortgage- and asset-backed securities | Level 3  
Assets  
Marketable securities 0
Equity securities  
Assets  
Marketable securities 339
Equity securities | Level 1  
Assets  
Marketable securities 339
Equity securities | Level 2  
Assets  
Marketable securities 0
Equity securities | Level 3  
Assets  
Marketable securities $ 0
[1] Other investments and other liabilities included in Level 1 are comprised of our deferred compensation plan assets and liabilities.
v3.25.2
Marketable Securities (Details) - Available-for-Sale Securities [Member]
$ in Millions
Jun. 29, 2025
USD ($)
Marketable Securities  
Less than one year $ 1,066
One to five years 2,342
Five to ten years 3
No single maturity date 813
Debt Securities, Available-for-sale $ 4,224
v3.25.2
Acquisitions (Details)
$ in Millions
9 Months Ended
Jun. 09, 2025
USD ($)
Jun. 29, 2025
USD ($)
numberOfBusinesses
Sep. 29, 2024
USD ($)
Acquisitions      
Goodwill   $ 11,366 $ 10,799
2025 Other Business Acquisitions [Member]      
Acquisitions      
Finite-Lived Intangibles   $ 120  
Number of Businesses Acquired | numberOfBusinesses   7  
Goodwill   $ 532  
Payments to Acquire Businesses, Gross   668  
Alphawave      
Acquisitions      
Restricted cash   $ 2,300  
Expected Price of Acquisition $ 2,400