QUALCOMM INC/DE, 10-K filed on 11/4/2026
Annual Report
v3.26.3
Cover Page - USD ($)
shares in Millions, $ in Billions
 12 Months Ended
Sep. 27, 2026
Nov. 02, 2026
Mar. 27, 2026
Cover [Abstract]      
Entity Registrant Name QUALCOMM INC/DE    
Entity Central Index Key 0000804328    
Document Fiscal Year Focus 2026    
Document Fiscal Period Focus FY    
Amendment Flag false    
Current Fiscal Year End Date --09-27    
Document Type 10-K    
Document Annual Report true    
Document Period End Date Sep. 27, 2026    
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 Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
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    
ICFR Auditor Attestation Flag true    
Entity Shell Company false    
Entity Public Float     $ 134.0
Entity Common Stock, Shares Outstanding   1,070  
Document Financial Statement Error Correction [Flag] false    
v3.26.3
Audit Information
 12 Months Ended
Sep. 27, 2026
Auditor information [Abstract]  
Auditor Name PricewaterhouseCoopers LLP
Auditor Location San Diego, California
Auditor Firm ID 238
v3.26.3
CONSOLIDATED BALANCE SHEETS - USD ($)
shares in Millions, $ in Millions
Sep. 27, 2026
Sep. 28, 2025
Current assets:    
Cash and cash equivalents $ 4,636 $ 5,520
Restricted cash 0 2,323
Marketable securities 3,045 4,635
Accounts receivable, net 4,199 4,315
Inventories 8,640 6,526
Other current assets 1,752 2,435
Total current assets 22,272 25,754
Deferred tax assets 5,783 743
Property, plant and equipment, net 6,104 4,690
Goodwill [1] 16,374 11,358
Other intangible assets, net 1,925 1,148
Other assets 8,371 6,450
Total assets 60,829 50,143
Current liabilities:    
Trade accounts payable 3,056 2,791
Payroll and other benefits related liabilities 1,875 1,839
Short-term debt 2,492 0
Other current liabilities 4,555 4,514
Total current liabilities 11,978 9,144
Long-term debt 12,620 14,811
Other liabilities 5,830 4,982
Total liabilities 30,428 28,937
Commitments and contingencies (Note 7)
Stockholders’ equity:    
Preferred stock, $0.0001 par value; 8 shares authorized; none outstanding $ 0 $ 0
Preferred Stock, Par or Stated Value Per Share $ 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; 1,072 and 1,074 shares issued and outstanding, respectively $ 2,518 $ 0
Common Stock, Par or Stated Value Per Share $ 0.0001 $ 0.0001
Common Stock, Shares Authorized 6,000 6,000
Common Stock, Shares, Issued 1,072 1,074
Common stock, shares, outstanding 1,072 1,074
Retained earnings $ 27,503 $ 20,646
Accumulated other comprehensive income 380 560
Total stockholders’ equity 30,401 21,206
Total liabilities and stockholders’ equity $ 60,829 $ 50,143
[1] Cumulative goodwill impairments were $812 million at both September 27, 2026 and September 28, 2025.
v3.26.3
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
 12 Months Ended
Sep. 27, 2026
Sep. 28, 2025
Sep. 29, 2024
Revenues:      
Equipment and services $ 36,895 $ 37,869 $ 32,791
Licensing 6,225 6,415 6,171
Total revenues 43,120 44,284 38,962
Costs and expenses:      
Cost of revenues 20,222 19,738 17,060
Research and development 10,207 9,042 8,893
Selling, general and administrative 3,701 3,110 2,759
Other 332 39 179
Total costs and expenses 34,462 31,929 28,891
Operating income 8,658 12,355 10,071
Interest expense (689) (664) (697)
Investment and other income, net 1,445 972 962
Income from continuing operations before income taxes 9,414 12,663 10,336
Income tax benefit (expense) 4,214 (7,122) (226)
Income from continuing operations 13,628 5,541 10,110
Discontinued operations, net of income taxes 0 0 32
Net income $ 13,628 $ 5,541 $ 10,142
Basic earnings per share, Continuing operations $ 12.81 $ 5.05 $ 9.06
Basic earnings per share, Discontinued operations 0 0 0.03
Earnings Per Share, Basic, Total 12.81 5.05 9.09
Diluted earnings per share, Continuing operations 12.70 5.01 8.94
Diluted earnings per share, Discontinued operations 0 0 0.03
Earnings Per Share, Diluted, Total $ 12.70 $ 5.01 $ 8.97
Shares used in per share calculations:      
Basic 1,064 1,096 1,116
Diluted 1,073 1,105 1,130
v3.26.3
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Millions
 12 Months Ended
Sep. 27, 2026
Sep. 28, 2025
Sep. 29, 2024
Statement of Comprehensive Income [Abstract]      
Net income $ 13,628 $ 5,541 $ 10,142
Other comprehensive (loss) income, net of income taxes:      
Foreign currency translation (losses) gains (96) 60 121
Net unrealized (losses) gains on certain available-for-sale debt securities (27) (29) 93
Net unrealized (losses) gains on derivative instruments (64) (36) 28
Other gains (losses) 8 9 (12)
Other reclassifications included in net income (1) (31) (1)
Total other comprehensive (loss) income (180) (27) 229
Comprehensive income $ 13,448 $ 5,514 $ 10,371
v3.26.3
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 12 Months Ended
Sep. 27, 2026
Sep. 28, 2025
Sep. 29, 2024
Operating Activities:      
Income from continuing operations $ 13,628 $ 5,541 $ 10,110
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization expense 1,630 1,602 1,706
Income tax payments (in excess) less than income tax provision (5,858) 3,980 (3,064)
Share-based compensation expense 3,452 2,783 2,648
Net gains on marketable securities and other investments (752) (381) (349)
Impairment losses on other investments 88 113 79
Net (gains) losses on equity method investments (258) (12) 10
Other items (20) (28) (70)
Changes in assets and liabilities:      
Accounts receivable, net 215 (365) (768)
Inventories (2,049) (138) 13
Other assets 686 971 230
Trade accounts payable (3) 119 682
Payroll, benefits and other liabilities 386 (173) 1,066
Net cash used by operating activities from discontinued operations 0 0 (91)
Net cash provided by operating activities 11,145 14,012 12,202
Investing Activities:      
Capital expenditures (2,494) (1,192) (1,041)
Purchases of debt and equity marketable securities (2,948) (4,694) (5,069)
Proceeds from sales and maturities of debt and equity marketable securities 4,906 5,755 2,677
Acquisitions and other investments, net of cash acquired (1,577) (743) (254)
Proceeds from other investments 45 61 88
Other items 29 13 (26)
Net cash provided by investing activities from discontinued operations 0 0 2
Net cash used by investing activities (2,039) (800) (3,623)
Financing Activities:      
Proceeds from short-term debt 5,073 998 799
Repayment of short-term debt (4,576) (998) (799)
Repayment of debt of acquired company (174) (4) 0
Proceeds from issuance of term debt 0 1,487 0
Repayment of term debt 0 (1,365) (914)
Proceeds from issuance of common stock 224 404 383
Repurchases and retirements of common stock (7,817) (8,791) (4,121)
Dividends paid (3,854) (3,805) (3,687)
Payments of tax withholdings related to vesting of share-based awards (1,134) (1,115) (932)
Other items (37) (7) (17)
Net cash provided by financing activities from discontinued operations 0 0 19
Net cash used by financing activities (12,295) (13,196) (9,269)
Effect of exchange rate changes on cash and cash equivalents (18) (22) 12
Net decrease in total cash, cash equivalents and restricted cash (3,207) (6) (678)
Total cash and cash equivalents at beginning of period (including $2,323 classified as restricted cash at September 28, 2025 and $77 classified as held for sale at September 24, 2023) 7,843 7,849 8,527
Total cash and cash equivalents at end of period (including $2,323 classified as restricted cash at September 28, 2025) 4,636 7,843 7,849
Beginning Balance - Disposal Group, Including Discontinued Operation, Cash and Cash Equivalents     $ 77
Beginning Balance - Restricted Cash 2,323    
Ending Balance - Restricted Cash $ 0 $ 2,323  
v3.26.3
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($)
$ in Millions
Total
Common Stock and Paid-in Capital [Member]
Retained Earnings [Member]
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   383    
Repurchases and retirements of common stock   (2,731) (1,394)  
Share-based compensation   2,767    
Tax withholdings related to vesting of share-based payments   (932)    
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value   0    
Common stock issued in acquisition   23    
Common stock issued to settle convertible debt   0    
Net income 10,142   10,142  
Dividends     (3,794)  
Other comprehensive (loss) income       229
Balance at end of period at Sep. 29, 2024 $ 26,274 0 25,687 587
Dividends per share announced $ 3.30      
Common stock issued under employee benefit plans   404    
Repurchases and retirements of common stock   (2,177) (6,669)  
Share-based compensation   2,888    
Tax withholdings related to vesting of share-based payments   (1,115)    
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value   0    
Common stock issued in acquisition   0    
Common stock issued to settle convertible debt   0    
Net income $ 5,541   5,541  
Dividends     (3,913)  
Other comprehensive (loss) income       (27)
Balance at end of period at Sep. 28, 2025 $ 21,206 0 20,646 560
Dividends per share announced $ 3.48      
Common stock issued under employee benefit plans   224    
Repurchases and retirements of common stock   (4,987) (2,800)  
Share-based compensation   3,568    
Tax withholdings related to vesting of share-based payments   (1,134)    
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value   268    
Common stock issued in acquisition   4,512    
Common stock issued to settle convertible debt   67    
Net income $ 13,628   13,628  
Dividends     (3,971)  
Other comprehensive (loss) income       (180)
Balance at end of period at Sep. 27, 2026 $ 30,401 $ 2,518 $ 27,503 $ 380
Dividends per share announced $ 3.62      
v3.26.3
Significant Accounting Policies
 12 Months Ended
Sep. 27, 2026
Accounting Policies [Abstract]  
Significant Accounting Policies Significant Accounting Policies
We are a global technology leader, helping to bring intelligent computing everywhere through the development and commercialization of foundational technologies, including advanced artificial intelligence (AI), high-performance and low-power computing and leading connectivity. Our platforms help power intelligent products and services used around the world, across industries and applications from handsets to automotive, the internet of things (IoT) and data center. We derive revenues principally from sales of integrated circuit products and through the licensing of our intellectual property, including patents and other rights.
Principles of Consolidation. The consolidated financial statements include the assets, liabilities and operating results of Qualcomm, its subsidiaries and any variable interest entities for which we are deemed to be the primary beneficiary. Intercompany transactions and balances have been eliminated.
Financial Statement Preparation. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (GAAP) requires management to make estimates and assumptions that affect the reported amounts and the disclosure of contingent amounts in our consolidated financial statements and the accompanying notes. Examples of our significant accounting estimates and policies that may involve a higher degree of judgment and complexity than others include: the estimation of sales-based royalty revenues; the impairment of non-marketable equity investments; the valuation of inventories; the impairment of goodwill, other indefinite-lived assets and long-lived assets; the recognition, measurement and disclosure of loss contingencies related to legal and regulatory proceedings; and the calculation of our income tax provision, including the recognition and measurement of uncertain tax positions and realizability of deferred tax assets. Actual results could differ from those estimates. Certain prior year amounts have been reclassified to conform to the current year presentation.
Fiscal Year. We operate and report using a 52-53 week fiscal year ending on the last Sunday in September. Our fiscal years for 2026, 2025 and 2024 included 52 weeks, 52 weeks and 53 weeks, respectively. Our fiscal year for 2027 will include 52 weeks.
Cash Equivalents and Restricted Cash. We consider all highly liquid investments with original maturities of 90 days or less to be cash equivalents. Cash equivalents may be comprised of money market funds, certificates of deposit, commercial paper, corporate bonds and notes and certain bank time deposits, U.S. Treasury securities and government-related securities. The carrying amounts approximate fair value due to the short maturities of these instruments. Restricted cash includes cash that is legally restricted as to withdrawal or usage (Note 9).
Marketable Securities. Marketable securities include marketable equity securities and available-for-sale debt securities. We classify marketable securities as current or noncurrent based on the nature of the securities and their availability for use in current operations. Marketable securities are stated at fair value with all realized and unrealized gains and losses on investments in marketable equity securities and realized gains and losses on available-for-sale debt securities recognized in investment and other income, net. Debt securities are classified as available-for-sale or held-to-maturity at the time of purchase and reevaluated at each balance sheet date. The realized and unrealized gains and losses on marketable securities are determined using the specific identification method.
If a debt security has an unrealized loss and we either intend to sell the security or it is more likely than not that we will be required to sell the security before its anticipated recovery, we record an impairment charge to investment and other income, net for the entire amount of the unrealized loss and adjust the amortized cost basis of the security. For the remaining debt securities, if an unrealized loss exists, we separate the impairment into the portion of the loss related to credit factors and the portion of the loss that is not related to credit factors. Unrealized gains or unrealized losses that are not related to credit factors on available-for-sale debt securities are recorded as a component of accumulated other comprehensive income, net of income taxes. Unrealized losses that are related to credit loss factors on available-for-sale debt securities and subsequent adjustments to the credit loss are recorded as an allowance for credit losses, which is included in investment and other income, net. In evaluating whether a credit loss exists, we consider a variety of factors, including the significance of the decline in value as compared to the cost basis; underlying factors contributing to a decline in the prices of securities in a single asset class; the security’s relative performance versus its peers, sector or asset class; the market and economy in general; views of external investment managers; news or financial information that has been released specific to the investee; and the outlook for the overall industry in which the investee operates.
Equity Method and Non-marketable Equity Investments. Equity investments in common stock or in-substance common stock for which we have significant influence, but not control, over the investee and are not the primary beneficiary of the investee’s activities are accounted for under the equity method. Our share of gains and losses in equity method investments are recorded in investment and other income, net. We eliminate unrealized profit or loss related to transactions with equity method investees in relation to our ownership interest in the investee, which is recorded as a component of investment and other income, net. Non-marketable equity investments that are neither consolidated nor accounted for under the equity method and do not have a readily determinable fair value are generally measured at initial cost, less any impairment, plus or minus observable price changes in orderly transactions for identical or similar securities, if any. All gains and losses on these investments in non-marketable equity securities, realized and unrealized, are recognized in investment and other income, net. We monitor equity method and non-marketable equity investments for events or circumstances that could indicate the
investments are impaired, such as a deterioration in the investee’s financial condition and business forecasts and lower valuations in recently completed or anticipated financings, and recognize a charge to investment and other income, net for the difference between the estimated fair value and the carrying value. For equity method investments, we record impairment losses in earnings only when impairments are considered other-than-temporary.
Derivatives. Our primary objectives for holding derivative instruments are to manage foreign exchange risk for certain foreign currency revenues, operating expenses, receivables and payables and to manage interest rate risk associated with our cash equivalents, marketable securities and term debt. Derivative instruments are recorded at fair value and included in other current or noncurrent assets or liabilities based on their maturity dates. Counterparties to these derivative instruments are all major banking institutions. At September 27, 2026, the aggregate fair value of our derivative instruments recorded in total assets and in total liabilities were $39 million and $408 million, respectively. At September 28, 2025, the aggregate fair value of our derivative instruments recorded in total assets and in total liabilities were $59 million and $163 million, respectively.
Foreign Currency Hedges: We manage our exposure to foreign exchange market risks, when deemed appropriate, through the use of derivative instruments, including foreign currency forward and option contracts with financial counterparties, that may or may not be designated as hedging instruments. These derivative instruments generally have maturity dates between one and 24 months. Gains and losses arising from such contracts that are designated as cash flow hedging instruments are recorded as a component of accumulated other comprehensive income as gains and losses on derivative instruments, net of income taxes. The hedging gains and losses in accumulated other comprehensive income are subsequently reclassified to revenues or costs and expenses, as applicable, in the consolidated statements of operations in the same period in which the underlying transactions affect our earnings. For foreign currency forward contracts not designated as hedging instruments, the changes in fair value are recorded in investment and other income, net in the period of change.
The cash flows associated with such derivative instruments are classified as cash flows from operating activities in the consolidated statements of cash flows, which is the same category as the hedged transaction.
Interest Rate Swaps: From time to time, we enter into interest rate swap agreements that allow us to effectively convert fixed-rate payments into floating-rate payments on portions of our outstanding term debt. We enter into these agreements 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. These transactions are designated as fair value hedges, and the gains and losses related to changes in the fair value of the interest rate swaps substantially offset changes in the fair value of the hedged portion of the underlying debt that are attributable to changes in the market interest rates. The net gains and losses on the interest rate swaps, as well as the offsetting gains or losses on the related fixed-rate debt attributable to the hedged risks, are recognized as interest expense in the current period. The interest settlement payments associated with the interest rate swap agreements are classified as cash flows from operating activities in the consolidated statements of cash flows.
From time to time, we also enter into forward-starting interest rate swaps to hedge the variability of forecasted interest payments on certain anticipated debt issuances. These swaps are designated as cash flow hedges of forecasted transactions. The gains and losses arising from such contracts are recorded as a component in accumulated other comprehensive income as gains and losses on derivative instruments. When the anticipated debt is issued, any associated swaps are terminated, and the hedging gains and losses in accumulated other comprehensive income are recorded to interest expense over the term of the hedged portions of the related debt issued.
Gross Notional Amounts: The gross notional amounts of our foreign currency and interest rate derivatives by instrument type were as follows (in millions):
September 27,
2026		September 28,
2025
Forwards$4,381 $3,828 
Options527 562 
Swaps5,000 3,550 
$9,908 $7,940 
The gross notional amounts of our derivatives by currency were as follows (in millions):
September 27,
2026		September 28,
2025
Chinese renminbi$1,530 $1,396 
Indian rupee2,254 1,989 
United States dollar5,165 3,789 
Other959 766 
$9,908 $7,940 
Fair Value Measurements. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants as of the measurement date. Applicable accounting guidance provides an established hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs that market participants would use in valuing the asset or liability and are developed based on market data obtained from sources independent of us. Unobservable inputs are inputs that reflect our assumptions about the factors that market participants would use in valuing the asset or liability. There are three levels of input that may be used to measure fair value:
•Level 1: quoted market prices for identical assets or liabilities available in active markets.
•Level 2: observable inputs other than quoted prices included within Level 1.
•Level 3: one or more significant, unobservable inputs to derive fair value from valuation techniques.
Assets and liabilities measured at fair value are classified based on the lowest level of input that is significant to the fair value measurement. We review the fair value hierarchy classification on a quarterly basis. Changes in the observability of valuation inputs may result in a reclassification of levels for certain securities within the fair value hierarchy. We recognize transfers into and out of levels within the fair value hierarchy at the end of the fiscal month in which the actual event or change in circumstances that caused the transfer to occur.
Cash Equivalents and Marketable Securities: We obtain pricing information from quoted market prices, pricing vendors or quotes from brokers/dealers. We conduct reviews of our primary pricing vendors to determine whether the inputs used in the vendor’s pricing processes are deemed to be observable. Contractual sale restrictions are not considered in measuring the fair value of marketable equity securities. The fair value for interest-bearing securities includes accrued interest. The fair value of our marketable securities is generally determined using standard observable inputs, including reported trades, market based quotes, benchmark yields, broker/dealer quotes, issuer spreads, two-sided markets and/or benchmark securities.
Derivative Instruments: Derivative instruments that are traded on an exchange are valued using quoted market prices and are included in Level 1. Derivative instruments that are not traded on an exchange are valued using conventional calculations/models that are primarily based on observable inputs, such as foreign currency exchange rates, volatilities and interest rates, and therefore, such derivative instruments are included in Level 2.
Deferred Compensation Plan Assets and Liabilities: Our deferred compensation plan liabilities and related assets included in Level 1 consist of mutual funds and are included in other current assets and other assets. Gains and losses on the revaluation of our deferred compensation plan assets are recorded in investment and other income, net. Corresponding offsetting amounts related to the revaluation of our deferred compensation plan liabilities are included in operating expenses.
Nonrecurring Fair Value Measurements: We measure certain assets and liabilities at fair value on a nonrecurring basis. These assets and liabilities include equity method and non-marketable equity investments, assets acquired and liabilities assumed in an acquisition, and property, plant and equipment and intangible assets that are written down to fair value when they are held for sale or determined to be impaired, all of which are generally measured based on unobservable inputs using an income or market approach.
Inventories. Inventories are valued at the lower of cost and net realizable value using the first-in, first-out method. Recoverability of inventories is assessed based on review of future customer demand that considers multiple factors, including committed purchase orders from customers as well as purchase commitment projections provided by customers and our own forecasts of customer demand, among other factors. This valuation also requires us to make judgments and assumptions based on information currently available about market conditions, including competition, anticipated technological changes, internal product life cycle and development plans, product pricing and other broader market conditions that may impact customer demand, such as the impact of the macroeconomic environment and global trade policies. We generally place binding purchase orders with our suppliers in advance of receiving contractually binding forecasts and/or purchase orders from our customers. The time period between placing purchase orders with our suppliers and receiving contractually binding forecasts and/or purchase orders from our customers has increased and may continue to increase as a result of extended manufacturing lead-times, driven in part by a continued transition to leading-edge technologies and/or increased complexity in the manufacturing process of our products. If we overestimate demand for our products, the amount of our loss will be impacted by our ability to reduce inventory purchases from our suppliers. Further, if our customers cancel purchase orders or alter forecasts this may result in excess inventory on hand. Our assumptions of future product demand are inherently uncertain, and changes in our estimates and assumptions may cause us to record additional write-downs in the future if demand forecasted for specific products is greater than actual demand.
Property, Plant and Equipment. Property, plant and equipment are recorded at cost and depreciated or amortized using the straight-line method over their estimated useful lives. Upon the retirement or disposition of property, plant and equipment, the related cost and accumulated depreciation or amortization are removed, and a gain or loss is recorded, when appropriate. Buildings on owned land are depreciated over 30 years, and building improvements are depreciated over 15 years. Leasehold improvements and buildings on leased land are amortized over the shorter of their estimated useful lives, not to exceed 15 years and 30 years, respectively, or the remaining term of the related lease. Other property, plant and equipment (which primarily relates to machinery and equipment) have useful lives ranging from 2 to 15 years. Maintenance, repairs and minor renewals or betterments are charged to expense as incurred.
Operating Leases. Operating lease assets and liabilities are recognized for leases with lease terms greater than 12 months based on the present value of the future lease payments over the lease term at the commencement date. Operating leases are included in other assets, other current liabilities and other liabilities on our consolidated balance sheet. Our lease terms include options to extend or terminate the lease when it is reasonably certain that we will exercise such option. We account for substantially all lease and related non-lease components together as a single lease component. Operating lease expense is recognized on a straight-line basis over the lease term.
Goodwill and Other Intangible Assets. Goodwill represents the excess of purchase price over the value assigned to the net tangible and identifiable intangible assets of businesses acquired. Acquired intangible assets other than goodwill are amortized over their useful lives unless the lives are determined to be indefinite. For intangible assets purchased in a business combination, the estimated fair values of the assets acquired are used to establish their recorded values. Valuation techniques consistent with the market approach, income approach and/or cost approach are used to measure fair value. An estimate of fair value can be affected by many assumptions that require significant judgment. For example, the income approach generally requires us to use assumptions to estimate the present value of future cash flows, including those related to total addressable market, pricing and share forecasts, competition, technology obsolescence, future tax rates and discount rates. Our estimate of the fair value of certain assets may differ materially from that determined by others who use different assumptions or utilize different business models and from the future cash flows actually realized.
Impairment of Goodwill, Other Indefinite-Lived Assets and Long-Lived Assets. Goodwill and other indefinite-lived intangible assets are tested annually for impairment in the fourth fiscal quarter, and in interim periods if events or changes in circumstances indicate that the assets may be impaired. If a qualitative assessment is used and we determine that the fair value of a reporting unit or indefinite-lived intangible asset is more likely than not (i.e., a likelihood of more than 50%) less than its carrying amount, a quantitative impairment test will be performed. If goodwill is quantitatively assessed for impairment and a reporting unit’s carrying value exceeds its fair value, the difference is recorded as an impairment. Other indefinite-lived intangible assets are quantitatively assessed for impairment, if necessary, by comparing their estimated fair values to their carrying values. If the carrying value exceeds the fair value, the difference is recorded as an impairment. Our judgments regarding the existence of impairment indicators and future cash flows related to goodwill, other indefinite-lived assets and long-lived assets may be based on operational performance of our businesses, market conditions, expected selling price and/or other factors. Although there are inherent uncertainties in this assessment process, the estimates and assumptions we use, including estimates of future cash flows and discount rates, are consistent with our internal planning, when appropriate. If these estimates or their related assumptions change in the future, we may be required to record an impairment charge on a portion or all of such assets. Furthermore, we cannot predict the occurrence of future impairment-triggering events nor the impact such events might have on our reported asset values.
Long-lived assets, such as property, plant and equipment and intangible assets subject to amortization, are reviewed for impairment when there is evidence that events or changes in circumstances indicate that the carrying amount of an asset or asset group may not be recoverable. Recoverability of assets to be held and used is measured by comparing the carrying amount of an asset or asset group to estimated undiscounted future cash flows expected to be generated by the asset or asset group. If the carrying amount of an asset or asset group exceeds its estimated future cash flows, an impairment charge is recognized for the amount by which the carrying amount of the asset or asset group exceeds the estimated fair value of the asset or asset group. Long-lived assets to be disposed of by sale are reported at the lower of their carrying amounts or their estimated fair values less costs to sell and are not depreciated.
Revenue Recognition. We derive revenues principally from sales of integrated circuit products and licensing of our intellectual property. We also generate revenues from licensing system software and by performing development and other services and from other product sales. The timing of revenue recognition and the amount of revenue actually recognized in each case depends upon a variety of factors, including the specific terms of each arrangement and the nature of our performance obligations.
Revenues from sales of our products are recognized upon transfer of control to the customer, which is generally at the time of shipment. Revenues from providing services are typically recognized over time as our performance obligation is satisfied. Revenues from providing services and licensing system software were each less than 5% of total revenues for all periods presented.
We grant licenses or otherwise provide rights to use portions of our intellectual property portfolio, which, among other rights, includes certain patent rights essential to and/or useful in the manufacture, sale or use of certain wireless products. License agreements contain a single performance obligation that represents ongoing access to a portfolio of intellectual property over the license term since such agreements provide the licensee the right to access a portfolio of intellectual property that exists at inception of the license agreement and to updates and new intellectual property that is added to the licensed portfolio during the term of the agreement that are highly interdependent or interrelated.
Licensees primarily pay per-unit royalties based on their sales of products incorporating or using our licensed intellectual property. Per-unit royalties are generally based upon a percentage of the wholesale (i.e., licensee’s) selling price of complete licensed products, net of certain permissible deductions (including transportation, insurance, packing costs and other items), with certain products subject to per unit minimums and/or per unit caps. Certain products may also have a fixed royalty amount per unit. We estimate and recognize sales-based royalties on such licensed products in the period in which the associated sales occur, considering all relevant information (historical, current and forecasted) that is reasonably available to us. Our estimates of sales-based royalties are based largely on preliminary royalty estimates provided by our licensees and, to
a lesser extent, an assessment of the volume of devices supplied into the market that incorporate or use our licensed intellectual property, combined with an estimate of the mix of such sales on a licensee-by-licensee basis, as well as the licensees’ average wholesale prices of such products. We also consider in our estimates of sales-based royalties any changes in pricing we plan or expect to make and certain constraints on our ability to estimate such royalties. As a result of this estimation, adjustments to revenues are required in subsequent periods to reflect changes in estimates as new information becomes available. In the periods presented, such adjustments result primarily from immaterial differences between preliminary royalty estimates provided to us by licensees and actual amounts reported and paid by licensees, which are generally received the following quarter.
We account for a contract with a customer/licensee when it is legally enforceable, the parties are committed to perform their respective obligations, the rights of the parties regarding the goods and/or services to be transferred are identified, payment terms are identified, the contract has commercial substance and collectability of substantially all of the consideration is probable, which for product sales, is generally when we have a committed customer purchase order, and for licensing revenues, is generally upon execution of a license agreement. If all such conditions are not met, revenues and any associated receivables are generally not recognized until such time that the required conditions are met. Cash collected from customers prior to a contract existing is recorded to other customer-related liabilities in other current liabilities.
From time to time, companies initiate various strategies in an attempt to negotiate, renegotiate, reduce and/or eliminate their need to pay royalties to us for the use of our intellectual property, which may include disputing, underreporting, underpaying, not reporting and/or not paying royalties owed to us under their license agreements with us, or reporting to us in a manner that is not in compliance with their contractual obligations. In such cases, we estimate and recognize licensing revenues only when we have a contract, as defined in the revenue recognition guidance, which includes, among other items, evaluating whether our license agreements remain valid and enforceable and evaluating licensees’ conduct and whether they remain committed to perform their respective obligations. We also estimate and recognize licensing revenues only to the extent it is probable that a significant reversal of cumulative revenues recognized will not occur, which includes, among other items, determining the expected impact, if any, to revenues of any license agreements that may be renegotiated and/or are newly entered into. We analyze the risk of a significant revenue reversal considering both the likelihood and magnitude of the reversal and, if necessary, constrain the amount of estimated revenues recognized in order to mitigate this risk, which may result in recognizing revenues less than amounts contractually owed to us. These aforementioned estimates may require significant judgment.
We measure revenues (including our estimates of sales-based royalties) based on the amount of consideration we expect to receive in exchange for products or services. We record reductions to revenues for customer incentive arrangements, including volume-related and other pricing rebates and cost reimbursements for marketing and other activities involving certain of our products and technologies, in the period that the related revenues are earned. For certain QCT (Qualcomm CDMA Technologies) customer incentive arrangements, there is complexity in applying certain contractual terms to determine the amount recorded as a reduction to revenues. For the periods presented, no significant reversals of revenues have been made related to such amounts previously recorded. The amounts accrued for customer incentive arrangements are recorded as a reduction to accounts receivable, net or as other current liabilities based on whether we have the intent and enforceable right of offset. Certain amounts recorded as a reduction to revenues for customer incentive arrangements are considered variable consideration and are included in the transaction price primarily based on estimating the most likely amount expected to be provided to the customer/licensee.
Adjustments made to revenues in subsequent periods to reflect changes in estimates as new information becomes available are included in our disclosure of revenues recognized from previously satisfied performance obligations (Note 2).
Revenues recognized from sales of our products and sales-based royalties are generally included in accounts receivable, net (including unbilled receivables) based on our unconditional right to payment for satisfied or partially satisfied performance obligations. Our payment terms are generally short-term in duration, with payment due shortly after delivery for product sales and within the following quarter for QTL (Qualcomm Technology Licensing) sales-based royalties.
Share-Based Compensation. Share-based compensation expense for equity-classified awards, principally related to restricted stock units (RSUs), is measured at the grant date, or at the acquisition date for awards assumed in business combinations, based on the estimated fair value of the award and is recognized over the employee’s requisite service period. The fair values of RSUs are estimated based on the fair market values of the underlying stock on the dates of grant or dates the RSUs are assumed. Share-based compensation expense is adjusted to exclude amounts related to share-based awards that are expected to be forfeited.
Legal and Regulatory Proceedings. We are currently involved in certain legal and regulatory proceedings. Litigation and investigations are inherently uncertain, and we face difficulties in evaluating or estimating likely outcomes or ranges of possible loss in antitrust and trade regulation investigations in particular. Investigations by antitrust and trade regulation agencies are not conducted in a consistent manner across jurisdictions. Further, each country and agency have different sets of laws, rules and regulations, both substantive and procedural, as well as different legal principles, theories and potential remedies, and some agencies may seek to use the investigation to advance domestic policy goals. Depending on the jurisdiction, these investigations can involve non-transparent procedures under which we may not receive access to evidence relied upon by the enforcement agency or that may be exculpatory and may not be informed of the specific legal theories or evidence considered or relied upon by the agency. Unlike in civil litigation in the United States, in foreign proceedings, we may not be entitled to discovery or depositions, allowed to cross-examine witnesses or confront our accusers. As a result, we
may not be aware of, and may not be entitled to know, all allegations against us, or the information or documents provided to, or discovered or prepared by the agency. Accordingly, we may have little or no idea what an agency’s intent is with respect to liability, penalties or the timing of a decision. In many cases the agencies are given significant discretion, and any available precedent may have limited, if any, predictive value in their jurisdictions or other jurisdictions. Accordingly, we cannot predict the outcome of these matters. A broad range of remedies with respect to our business practices that are deemed to violate applicable laws are potentially available. These remedies may include, among others, injunctions, monetary damages or fines or other orders to pay money and the issuance of orders to cease certain conduct and/or to modify our business practices.
If there is at least a reasonable possibility that a material loss may have been incurred associated with pending legal and regulatory proceedings, we disclose such fact, and if reasonably estimable, we provide an estimate of the possible loss or range of possible loss. We record our best estimate of a loss related to pending legal and regulatory proceedings when the loss is considered probable and the amount can be reasonably estimated. Where a range of loss can be reasonably estimated with no best estimate in the range, we record the minimum estimated liability. As additional information becomes available, we assess the potential liability related to pending legal and regulatory proceedings and revise our estimates and update our disclosures accordingly. Significant judgment is required in both the determination of probability and the determination as to whether a loss is reasonably estimable. Our legal costs associated with defending ourselves are recorded to expense as incurred.
Foreign Currency. Certain foreign subsidiaries use a local currency as the functional currency. Resulting translation gains or losses are recorded as a component of accumulated other comprehensive income. Transaction gains or losses related to balances denominated in a currency other than the functional currency of the entity involved are recognized in the consolidated statements of operations.
Income Taxes. The asset and liability approach is used to recognize deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the carrying amounts and the tax bases of assets and liabilities. Tax law and rate changes are reflected in income in the period such changes are enacted. We record a valuation allowance to reduce deferred tax assets to the amount that is more likely than not to be realized. We include interest and penalties related to income taxes, including unrecognized tax benefits, within income tax expense. We classify all deferred tax assets and liabilities as noncurrent in the consolidated balance sheets. We recognize excess tax benefits and shortfall tax detriments associated with share-based awards in the consolidated statements of operations, as a component of income tax expense, when realized.
Our income tax returns are based on calculations and assumptions that are subject to examination by the Internal Revenue Service (IRS) and other tax authorities. In addition, the calculation of our tax liabilities involves dealing with uncertainties in the application of complex tax regulations. We recognize liabilities for uncertain tax positions based on a two-step process. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained on audit, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount that is more than 50% likely of being realized upon settlement. We continually assess the likelihood and amount of potential adjustments and adjust the income tax provision, income taxes payable and deferred taxes in the period in which the facts that give rise to a revision become known. We account for accrued interest and penalties related to uncertain tax benefits as a component of income tax expense.
We are subject to income taxes in the United States and numerous foreign jurisdictions, and the assessment of our income tax positions involves dealing with uncertainties in the application of complex tax laws and regulations in various taxing jurisdictions. In addition, the application of tax laws and regulations is subject to legal and factual interpretation, judgment and uncertainty. Tax laws and regulations themselves are subject to change as a result of changes in fiscal policy, changes in legislation, the evolution of regulations and court rulings. Significant judgments and estimates are required in determining our provision for income taxes, including those related to special deductions such as FDDEI (foreign-derived deduction eligible income formerly known as foreign-derived intangible income or FDII), tax incentives, intercompany research and development cost-sharing arrangements, transfer pricing, tax credits and the realizability of deferred tax assets. While we believe we have appropriate support for the positions we have taken or that we plan to take on our tax returns, we regularly assess the potential outcomes of examinations by taxing authorities in determining the adequacy of our provision for income taxes. Therefore, the actual liability for U.S. or foreign taxes may be materially different from our estimates, which could result in the need to record additional tax liabilities or potentially reverse previously recorded tax liabilities.
Stock Repurchases. To reflect share repurchases in the consolidated balance sheet, we (i) reduce common stock for the par value of the shares, (ii) reduce paid-in capital for the amount in excess of par to zero during the quarter in which the shares are repurchased and (iii) record the residual amount, if any, to retained earnings.
Earnings Per 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, primarily comprised of shares issuable under our equity compensation plans and customer warrant, during the reporting period, using the treasury stock method.
The following table provides information about the diluted earnings per share calculation (in millions):
202620252024
Dilutive common share equivalents included in diluted shares9 9 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 period9 2 4 
Recently Adopted Accounting Pronouncement.
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 adopted the new requirements in our annual reporting for fiscal 2026 on a prospective basis (Note 3).
Recent Accounting Pronouncements Not Yet Adopted.
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 starting in fiscal 2028 on a prospective basis.
v3.26.3
Composition of Certain Financial Statement Items
 12 Months Ended
Sep. 27, 2026
Balance Sheet Related Disclosures [Abstract]  
Composition of Certain Financial Statement Items Composition of Certain Financial Statement Items
Accounts Receivable (in millions)
September 27,
2026		September 28,
2025
Trade, net of allowances for doubtful accounts $2,671 $2,855 
Unbilled1,504 1,443 
Other24 17 
$4,199 $4,315 
Inventories (in millions)
September 27,
2026		September 28,
2025
Raw materials$657 $336 
Work-in-process5,450 3,985 
Finished goods2,533 2,205 
$8,640 $6,526 
Property, Plant and Equipment (in millions)
September 27,
2026		September 28,
2025
Land$167 $168 
Buildings and improvements1,864 1,915 
Computer equipment and software3,024 2,165 
Machinery and equipment10,119 9,360 
Furniture and office equipment156 148 
Leasehold improvements630 594 
Construction in progress224 154 
16,184 14,504 
Less accumulated depreciation and amortization(10,080)(9,814)
$6,104 $4,690 
Depreciation and amortization expense related to property, plant and equipment for fiscal 2026, 2025 and 2024 was $1.2 billion, $1.3 billion and $1.4 billion, respectively.
Goodwill and Other Intangible Assets. We allocate goodwill to our reporting units for impairment testing purposes. The following table presents the goodwill allocated to our reportable and nonreportable segments, as described in Note 8, as well as the changes in the carrying amounts of goodwill during fiscal 2026 and 2025 (in millions):
QCTQTLNonreportable SegmentsTotal
Balance at September 29, 2024$10,065 $734 $— $10,799 
Acquisitions526 — — 526 
Foreign currency translation adjustments32 1 — 33 
Balance at September 28, 2025 (1)10,623 735 — 11,358 
Acquisitions694 — 4,349 5,043 
Foreign currency translation adjustments(30)(1)4 (27)
Balance at September 27, 2026 (1)$11,287 $734 $4,353 $16,374 
(1) Cumulative goodwill impairments were $812 million at both September 27, 2026 and September 28, 2025.
The components of other intangible assets, net were as follows (in millions):
September 27, 2026September 28, 2025
Gross Carrying
Amount		Accumulated
Amortization		Weighted-average amortization period
(years)		Gross Carrying
Amount		Accumulated
Amortization		Weighted-average amortization period
(years)
Technology-based$3,447 $(1,542)8$2,553 $(1,421)9
Other88 (68)1070 (54)11
$3,535 $(1,610)8$2,623 $(1,475)9
All of these intangible assets are subject to amortization, other than acquired in-process research and development which had a carrying value of $280 million at September 27, 2026 and no balance at September 28, 2025. Amortization expense related to these intangible assets was $423 million, $321 million and $311 million for fiscal 2026, 2025 and 2024, respectively. At September 27, 2026, amortization expense related to other intangible assets is expected to be $475 million, $457 million, $406 million, $329 million and $138 million for each of the five years from fiscal 2027 through 2031, respectively, and $120 million thereafter.
Equity Method and Non-marketable Equity Investments. The carrying values of our equity method and non-marketable equity investments are recorded in other assets and were as follows (in millions):
September 27,
2026		September 28,
2025
Equity method investments$408 $163 
Non-marketable equity investments (1)1,574 1,216 
$1,982 $1,379 
(1) Cumulative unrealized gains were $548 million and $394 million at September 27, 2026 and September 28, 2025, respectively. Cumulative unrealized losses, including impairments, were $395 million and $457 million at September 27, 2026 and September 28, 2025, respectively.
Other Current Liabilities (in millions)
September 27,
2026		September 28,
2025
Customer incentives and other customer-related liabilities$2,644 $1,948 
Income taxes payable581 1,007 
Unearned revenues200 358 
Other1,130 1,201 
$4,555 $4,514 
Revenues. We disaggregate our revenues by segment (Note 8), by products and services (as presented on our consolidated statements of operations), and for our QCT 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 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):
202620252024
Handsets (1)$24,072 $27,793 $24,863 
Automotive (2)6,004 3,957 2,910 
IoT (internet of things) (3)7,132 6,617 5,423 
Total QCT revenues$37,208 $38,367 $33,196 
(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 ADAS/AD.
(3) Primarily includes products sold for use in the following industries and applications: personal AI and compute (including personal computers (PCs), extended reality (XR) and other personal computing devices) and industrial, networking and robotics (including mobile broadband, wireless access points, handhelds, retail, tracking and logistics, and other commercial and home applications).
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 QTL royalty revenues recognized related to devices sold in prior periods (including revenues resulting from certain settlements and adjustments to prior period royalty estimates, which includes the impact of the reporting by our licensees of actual royalties due) and were as follows (in millions):
202620252024
Revenues recognized from previously satisfied performance obligations$533 $783 $558 
Remaining performance obligations, which are primarily included in unearned revenues (which were not material for the periods presented), 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 terms now expiring at varying dates between fiscal 2030 and 2033, reflecting several recent long-term renewals including with Apple. We generally seek to renew or renegotiate such license agreements prior to expiration.
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:
202620252024
Customer/licensee (x)22%21%22%
Customer/licensee (y)202019
Customer/licensee (z)*1312
* Less than 10%
We rely on sole- or limited-source suppliers for some products, particularly products in our QCT segment, subjecting us to possible shortages of raw materials or manufacturing capacity. The loss of a supplier or the inability of a supplier to meet performance or quality specifications or delivery schedules could harm our ability to meet our delivery obligations and/or negatively impact our revenues, business operations and ability to compete for future business.
Other Costs and Expenses. Other expenses for fiscal 2026, 2025 and 2024 primarily consisted of restructuring and restructuring-related charges (substantially all of which related to severance costs).
Investment and Other Income, Net (in millions)
202620252024
Interest and dividend income$424 $639 $675 
Net gains on marketable securities (1)386 254 14 
Net gains on other investments252 44 175 
Net gains on deferred compensation plan assets176 127 198 
Impairment losses on other investments(88)(113)(79)
Net gains (losses) on equity method investments258 12 (10)
Other37 9 (11)
$1,445 $972 $962 
(1) Primarily consist of net unrealized gains related to certain marketable equity securities.
v3.26.3
Income Taxes
 12 Months Ended
Sep. 27, 2026
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The components of income from continuing operations before income taxes by U.S. and foreign jurisdictions were as follows (in millions):
202620252024
United States$6,990 $11,174 $9,169 
Foreign2,424 1,489 1,167 
$9,414 $12,663 $10,336 
The components of the income tax provision from continuing operations were as follows (in millions):
202620252024
Current provision:
Federal$405 $1,682 $1,306 
State14 7 3 
Foreign (1)431 981 805 
850 2,670 2,114 
Deferred (benefit) provision:
Federal(5,118)4,373 (1,553)
State— (5)(4)
Foreign (1)54 84 (331)
(5,064)4,452 (1,888)
$(4,214)$7,122 $226 
(1) The foreign component of the income tax provision included foreign withholding taxes on royalty revenues included in U.S. earnings.
The following is a reconciliation of the expected statutory federal income tax provision to our actual income tax provision from continuing operations for fiscal 2026 (in millions, except percentages). A significant portion of our U.S. income qualifies for preferential treatment as FDDEI at a 13% effective tax rate.
2026
Expected income tax provision at federal statutory tax rate (1)$1,977 21%
Foreign tax effects (2):
China230 2%
Singapore(195)(2%)
South Korea173 2%
Other foreign jurisdictions167 2%
Effect of cross-border tax laws:
Benefit from foreign-derived deduction eligible income (FDDEI)(368)(4%)
Income from branches360 4%
Other124 1%
Tax credits:
Foreign tax credit(752)(8%)
Research and development credits(229)(2%)
Changes in valuation allowance(5,781)(61%)
Nontaxable or nondeductible items176 2%
Other(96)(1%)
$(4,214)(45%)
(1) Percentages may not sum due to rounding.
(2) Foreign tax effects in China and South Korea primarily relate to withholding tax and in Singapore primarily relate to non-resident source investment income.
The following is a reconciliation of the expected statutory federal income tax provision to our actual income tax provision from continuing operations for fiscal 2025 and 2024 (in millions):
20252024
Expected income tax provision at federal statutory tax rate$2,659 $2,171 
Change in valuation allowance on federal deferred tax assets
5,724 — 
Benefit from FDDEI deduction(1,227)(1,181)
Benefit related to research and development tax credits(237)(259)
Excess tax (benefit) deficiency associated with share-based awards(120)(176)
Benefit related to the transfer of intellectual property between foreign subsidiaries(8)(317)
Other331 (12)
$7,122 $226 
Effective tax rate56%2%
In the fourth quarter of fiscal 2025, tax reform legislation included in the One Big Beautiful Bill Act (OBBB) was enacted in the United States. The OBBB included significant corporate tax reforms, including changes to the foreign-derived deduction eligible income (FDDEI) regime and changes allowing domestic research and development (R&D) expenditures to be deducted as incurred beginning in fiscal 2026 (under prior law such expenditures were capitalized and amortized over five years). As a result, we expected to be perpetually subject to corporate alternative minimum tax (CAMT) and established a $5.7 billion valuation allowance on our federal deferred tax assets in fiscal 2025.
In the second quarter of fiscal 2026, the U.S. Department of Treasury and the Internal Revenue Service issued Notice 2026-07, which, among other items, allows us to reduce CAMT by certain previously capitalized domestic R&D expenditures. As a result, we no longer expect to be subject to CAMT in the foreseeable future, and therefore, we now expect to realize our existing federal deferred tax assets. Accordingly, we released our valuation allowance on our federal deferred tax assets resulting in a $5.7 billion income tax benefit in the second quarter of fiscal 2026. Changes in future taxable income, tax laws and other factors may change our determination regarding whether we will be able to realize our deferred tax assets.
Beginning in fiscal 2019, we applied for partial refund claims for taxes previously withheld from licensees in Korea on payments due under their license agreements to which we have claimed a foreign tax credit in the United States. As a result, $2.7 billion and $2.2 billion were recorded as noncurrent income taxes receivable (included in other assets) at September 27, 2026 and September 28, 2025, respectively, and $3.0 billion and $2.6 billion were recorded as a noncurrent liability for uncertain tax benefits (included in other liabilities) at September 27, 2026 and September 28, 2025, respectively.
Our cash paid for income taxes, net of refunds received, for fiscal 2026 was as follows (in millions):
2026
Federal$826 
State19 
Foreign799 
Cash paid for income taxes, net of refunds received$1,644 
Our cash paid for income taxes, net of refunds received, during fiscal 2025 and 2024 were $3.1 billion and $3.3 billion, respectively.
We had deferred tax assets and deferred tax liabilities as follows (in millions):
September 27,
2026		September 28,
2025
Capitalized research and development expenditures$3,737 $4,194 
Unused tax credits2,912 2,527 
Customer incentives620 790 
Accrued liabilities and reserves425 410 
Unused net operating losses342 708 
Other1,417 1,069 
Total gross deferred tax assets9,453 9,698 
Valuation allowance(2,448)(8,016)
Total net deferred tax assets7,005 1,682 
Intangible assets(425)(367)
Unrealized gains on other investments and marketable securities(388)(212)
Operating lease assets(275)(256)
Other(283)(235)
Total deferred tax liabilities(1,371)(1,070)
Net deferred tax assets$5,634 $612 
Reported as:
Non-current deferred tax assets$5,783 $743 
Non-current deferred tax liabilities (1)(149)(131)
$5,634 $612 
(1) Non-current deferred tax liabilities were included in other liabilities in the consolidated balance sheets.
At September 27, 2026, we had unused foreign net operating loss carryforwards of $1.0 billion, of which substantially all may be carried forward indefinitely, unused state net operating loss carryforwards of $749 million expiring from 2027 through 2037 and unused federal net operating loss carryforwards of $135 million, of which $70 million expire from 2027 through 2037 and $65 million may be carried forward indefinitely. At September 27, 2026, we had unused state tax credits of $2.3 billion, of which substantially all may be carried forward indefinitely, unused federal tax credits of $485 million expiring from 2028 through 2035 and unused tax credits of $106 million in foreign jurisdictions expiring from 2038 through 2046.
At September 27, 2026, we have provided valuation allowances on certain state tax credits, foreign deferred tax assets and state net operating losses of $2.3 billion, $92 million and $43 million, respectively. The valuation allowances reflect our current expectations regarding our ability to generate sufficient future taxable income in certain tax jurisdictions to utilize our net deferred tax assets. We believe, more likely than not, that we will have sufficient taxable income to utilize our remaining deferred tax assets.
A summary of the changes in the amount of unrecognized tax benefits for fiscal 2026, 2025 and 2024 follows (in millions):
202620252024
Beginning balance of unrecognized tax benefits$2,668 $2,450 $2,296 
Additions based on prior year tax positions145 158 2 
Reductions for prior year tax positions and lapse in statute of limitations— (93)(1)
Additions for current year tax positions180 153 153 
Ending balance of unrecognized tax benefits$2,993 $2,668 $2,450 
Of the $3.0 billion of unrecognized tax benefits at September 27, 2026, $2.6 billion has been recorded to other liabilities. Unrecognized tax benefits at September 27, 2026 included $186 million for tax positions that, if recognized, would impact the effective tax rate. The unrecognized tax benefits differ from the amount that would affect our effective tax rate primarily because the unrecognized tax benefits were included on a gross basis and did not reflect related receivables or secondary impacts, such as adjustments to the federal foreign tax credit that might be required if our tax positions are sustained. The increase in unrecognized tax benefits for current year tax positions for the periods presented was primarily due to expected refunds of Korean withholding tax previously paid (which such increase had an insignificant impact to our income tax provision). If successful, the refund will result in a corresponding reduction in U.S. foreign tax credits. At September 27, 2026, total interest and penalties related to unrecognized tax benefits accrued in other current liabilities and other liabilities was $501 million, with a corresponding noncurrent income taxes receivable of $372 million recorded in other assets for expected refunds of certain tax benefits.
We file income tax returns in the U.S. federal jurisdiction and various state and foreign jurisdictions. We are no longer subject to U.S. federal income tax examinations for years prior to fiscal 2018. We are also subject to examination in other taxing jurisdictions in the U.S. and numerous foreign jurisdictions. These examinations are at various stages with respect to assessments, claims, deficiencies and refunds, many of which are open for periods after fiscal 2001.
v3.26.3
Capital Stock
 12 Months Ended
Sep. 27, 2026
Equity [Abstract]  
Capital Stock Capital Stock
Stock Repurchase Program. During the fourth quarter of fiscal 2026, we utilized the remaining repurchase authority under the $15.0 billion stock repurchase program announced on November 6, 2024 and we began repurchases under the $20.0 billion stock repurchase program announced on March 17, 2026, which has no expiration date. At September 27, 2026, $19.6 billion remained authorized for repurchase under our stock repurchase program.
Shares Outstanding. Shares of common stock outstanding at September 27, 2026 were as follows (in millions):
Balance at September 28, 20251,074 
Issued46 
Repurchased(48)
Balance at September 27, 20261,072
Customer Warrant. In September 2026, we issued a warrant to an affiliate of Amazon Data Services, Inc. to acquire up to an aggregate of 25 million shares (Warrant Shares) of our common stock at an exercise price of $161.26 per share. The warrant has an exercise term and vesting term of ten years. The Warrant Shares vest in tranches tied to the execution of certain commercial arrangements, the placement of binding purchase orders and actual customer purchase milestones (up to a maximum amount of $60 billion in payments), and are recorded as a reduction to revenues as the related revenues are recognized during the vesting term. The grant date fair value of the warrant was determined to be $71.57 per share and a total fair value of $1.8 billion using the Black-Scholes option pricing model. As of September 27, 2026, 25 million Warrant Shares were outstanding and unexercised, of which approximately 4 million had vested upon issuance of the warrant based on initial purchase commitments.
The following is a summary of assumptions used to calculate the fair value of the Warrant Shares on the date of issuance using the Black-Scholes option pricing model:
Expected volatility38.0%
Expected term (in years)10
Risk-free interest rate4.7%
Expected dividend yield2.2%
v3.26.3
Employee Benefit Plans
 12 Months Ended
Sep. 27, 2026
Employee Benefit and Share-Based Payment Arrangement, Noncash Expense [Abstract]  
Employee Benefit Plans Employee Benefit Plans
Equity Compensation Plans. On March 17, 2026, our stockholders approved the Amended and Restated Qualcomm Incorporated 2023 Long-Term Incentive Plan (the 2023 Plan), including an increase in the share reserve by 24 million shares. The 2023 Plan provides for the grant of RSUs and other stock-based awards. The RSUs generally include dividend-equivalent rights and vest over three years from the date of grant. The Board of Directors may amend or terminate the 2023 Plan at any time. Certain amendments, including an increase in the share reserve, require stockholder approval. At September 27, 2026, approximately 64 million shares were available for future grant under the 2023 Plan.
The following is a summary of employee RSU transactions that contain only service requirements to vest:
Number of Shares
(in millions)		Weighted-Average
Grant Date Fair Value
RSUs outstanding at September 28, 202528 $151.75 
RSUs granted23 176.02 
RSUs assumed in acquisition1 169.56 
RSUs canceled/forfeited(3)165.88 
RSUs vested(19)152.52 
RSUs outstanding at September 27, 202630 169.02 
The weighted-average estimated grant date fair values of employee RSUs that contain only service requirements to vest granted during fiscal 2025 and 2024 were $163.17 and $134.31 per share, respectively. Upon vesting, we issue new shares of common stock. For the majority of RSUs, shares are issued on the vesting dates net of the amount of shares needed to satisfy statutory tax withholding requirements to be paid by us on behalf of the employees. As a result, the actual number of shares issued will be fewer than the number of RSUs outstanding. The annual pre-vest forfeiture rate for RSUs was estimated to be approximately 6% in fiscal 2026, 2025 and 2024.
At September 27, 2026, total unrecognized compensation expense related to such non-vested RSUs granted prior to that date was $4.1 billion, which is expected to be recognized over a weighted-average period of 1.9 years. The total vest-date fair value of such RSUs that vested during fiscal 2026, 2025 and 2024 was $3.3 billion, $3.3 billion and $4.0 billion, respectively. The total shares withheld to satisfy statutory tax withholding requirements related to all share-based awards were 7 million, 7 million and 6 million in fiscal 2026, 2025 and 2024, respectively, and were based on the value of the awards on their vesting dates as determined by our closing stock price.
The total tax benefits realized, including the excess tax benefits, related to share-based awards during fiscal 2026, 2025 and 2024 were $698 million, $683 million and $840 million, respectively.
Employee Stock Purchase Plan. We have an employee stock purchase plan that allows eligible employees to purchase shares of common stock at 85% of the value of our common stock on specific dates through periodic payroll deductions. The shares reserved for future issuance under the employee stock purchase plan were 10 million at September 27, 2026. We recorded cash received from the exercise of purchase rights of $222 million, $402 million and $379 million during fiscal 2026, 2025 and 2024, respectively.
Share-based Compensation Expense. Total share-based compensation expense, related to all of our share-based awards, was comprised as follows (in millions):
202620252024
Cost of revenues$101 $89 $89 
Research and development2,569 2,141 2,024 
Selling, general and administrative782 553 535 
Share-based compensation expense before income taxes3,452 2,783 2,648 
Related income tax benefit(441)(616)(662)
$3,011 $2,167 $1,986 
v3.26.3
Debt
 12 Months Ended
Sep. 27, 2026
Debt Disclosure [Abstract]  
Debt Debt
Term Debt. The following table provides a summary of our term debt:
September 27, 2026September 28, 2025
MaturitiesAmount
(in millions)		Effective RateMaturitiesAmount
(in millions)		Effective Rate
Fixed-rate notes
2027 - 2053
$15,107 
2.63% - 6.06%
2027 - 2053
$15,107 
2.39% - 5.12%
Total principal15,107 15,107 
Unamortized discount, including debt issuance costs(175)(201)
Hedge accounting adjustments(319)(95)
Total term debt$14,613 $14,811 
Reported as:
Short-term debt$1,993 $— 
Long-term debt12,620 14,811 
 Total$14,613 $14,811 
At September 27, 2026, future principal payments of our term debt were as follows (in millions):
2027$2,000 
2028962 
2029— 
20301,700 
2031— 
Thereafter10,445 
Total$15,107 
At September 27, 2026, the aggregate fair value of the notes, based on Level 2 inputs, was approximately $13.3 billion.
At September 27, 2026, all of our outstanding term debt is comprised of unsecured fixed-rate notes. We may redeem the outstanding fixed-rate notes at any time in whole, or from time to time in part, at specified make-whole premiums as defined in the applicable form of note. The obligations under the notes rank equally in right of payment with all of our other senior unsecured indebtedness and will effectively rank junior to all liabilities of our subsidiaries.
The effective interest rates for the notes include the interest on the notes, amortization of the discount, which includes debt issuance costs, and if applicable, adjustments related to hedging. Interest is payable in arrears semi-annually for the notes. Cash interest paid related to our commercial paper program and term debt was $642 million, $614 million and $656 million during fiscal 2026, 2025 and 2024, respectively.
Interest Rate Swaps. At September 27, 2026 and September 28, 2025, we had outstanding interest rate swaps with an aggregate notional amount of $5.0 billion and $3.6 billion, respectively, that are designated as fair value hedges and allow us to effectively convert fixed-rate payments into floating-rate payments on a portion of our outstanding term debt.
Commercial Paper Program. We have an unsecured commercial paper program, which provides for the issuance of up to $4.5 billion. Net proceeds from this program are for general corporate purposes. Maturities of commercial paper can range from 1 to up to 397 days. At September 27, 2026 and September 28, 2025, we had $499 million and no amounts of commercial paper outstanding, respectively. At September 27, 2026, the weighted-average interest rate was 3.84%, which included fees paid to the commercial paper dealers, and the weighted-average remaining days to the maturity was 20 days. The carrying value of the outstanding commercial paper approximated its estimated fair value at September 27, 2026.
Revolving Credit Facility. We have a Revolving Credit Facility that provides for unsecured revolving facility loans, swing line loans and letters of credit in an aggregate amount of up to $4.0 billion, which expires on August 8, 2029. At September 27, 2026 and September 28, 2025, no amounts were outstanding under the Revolving Credit Facility.
Debt Covenants. The Revolving Credit Facility requires that we comply with certain covenants, including that we maintain an interest coverage ratio as defined in the agreement. We are not subject to any financial covenants under the notes nor any covenants that would prohibit us from incurring additional indebtedness ranking equal to the notes, paying dividends or issuing securities or repurchasing securities issued by us or our subsidiaries. At September 27, 2026, we were in compliance with the applicable covenants under the Revolving Credit Facility.
v3.26.3
Commitments and Contingencies
 12 Months Ended
Sep. 27, 2026
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
Legal and Regulatory Proceedings.
ParkerVision, Inc. v. QUALCOMM Incorporated: On May 1, 2014, ParkerVision, Inc. (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. 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. ParkerVision appealed to the United States Court of Appeals for the Federal Circuit (Federal Circuit), and 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. Following a claim construction ruling by the district court, the parties agreed to a stipulated judgment of non-infringement with respect to certain of ParkerVision’s claims (Receiver Claims). On October 2, 2025, the court entered a final judgment in our favor with respect to the Receiver Claims and severed and stayed ParkerVision’s remaining claims (Transmitter Claims), pending appeal of the court’s claim construction ruling and resulting determination of non-infringement of the Receiver Claims. ParkerVision appealed to the Federal Circuit, and on September 30, 2026, the Federal Circuit denied ParkerVision’s appeal for lack of jurisdiction and remanded the case to the district court. We intend to continue to vigorously defend ourselves in this matter.
Arm Ltd. v. QUALCOMM Incorporated: On August 31, 2022, Arm Ltd. filed a complaint against us and our subsidiaries, Qualcomm Technologies, Inc. and NuVia, Inc. (Nuvia), in the United States District Court for the District of Delaware. 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). 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. On September 30, 2025, the court entered a final judgment upholding the jury’s verdict in favor of Qualcomm, granting judgment to Nuvia, and dismissing Arm’s remaining claims. On October 1, 2025, Arm filed a notice of appeal to the United States Court of Appeals for the Third Circuit. A hearing on Arm’s appeal was held on October 21, 2026. The court has not yet issued a ruling. 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 Holdings plc f/k/a Arm Ltd., 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. 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. On January 8, 2026, we filed a substantially identical complaint against Arm Ltd., which was subsequently consolidated with the Arm Holdings plc complaint. On March 30, 2026, our complaint against Arm Ltd. was amended to include an additional claim for breach of the Qualcomm ALA based on Arm’s failure to negotiate certain license terms in good faith. A trial was held beginning on October 5, 2026, and on October 13, 2026, the jury found that (i) Arm breached the Qualcomm ALA by failing to provide certain deliverables, (ii) Arm improperly interfered with Qualcomm’s economic relationship with a customer and (iii) Arm did not breach the Qualcomm TLA as we alleged. The court also held bench trial proceedings on certain of the claims, defenses and potential remedies that will be determined by the court in the first instance. The court has not yet issued its decision on the bench trial issues.
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 September 27, 2026 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 (including matters arising in the ordinary course of our business, such as those relating to employment matters or the initiation or defense of proceedings relating to intellectual property rights, among others) 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.
Indemnifications. We generally do not indemnify our customers, licensees and suppliers for losses sustained from infringement of third-party intellectual property rights. However, we are contingently liable under certain agreements to defend and/or indemnify certain customers, licensees, and suppliers against certain types of liability and/or damages arising from the infringement of third-party intellectual property rights and to indemnify certain companies that purchased businesses we previously consolidated against certain contingent losses. Our obligations under these agreements may be limited in terms of time and/or amounts, and in some instances, we may have recourse against third parties for certain payments made by us. Claims and reimbursements under indemnification arrangements have not been material to our consolidated financial statements. We have not recorded accruals for certain claims under indemnification arrangements based on our belief that additional liabilities, while possible, are not probable. Further, any possible range of loss cannot be reasonably estimated at this time.
Purchase Obligations. We have agreements with suppliers and other parties to purchase inventory, other goods and services and long-lived assets. Such agreements include 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 the consolidated balance sheets at September 27, 2026 and September 28, 2025 were $750 million and $1.9 billion, respectively, of which $169 million and $1.5 billion were recorded in other current assets, respectively, and $581 million and $357 million were recorded in other assets, respectively. Integrated circuit product inventory obligations represent purchase commitments (including those under multi-year capacity purchase commitments to the extent such minimum amounts are both fixed and determinable) for raw materials, semiconductor die, finished goods and manufacturing services, such as wafer bump, probe, assembly and final test. Under our manufacturing relationships with our foundry suppliers and assembly and test service providers, cancellation of outstanding purchase commitments is generally allowed but would require payment of costs incurred through the date of cancellation. Also, in some cases, we may be subject to incremental fees and/or the loss of amounts paid in advance due to capacity underutilization and/or the failure to meet minimum purchase volumes under multi-year capacity purchase commitments. Obligations under our purchase agreements, which primarily relate to integrated circuit product inventory obligations, at September 27, 2026 totaled $18.6 billion of which, $13.8 billion is expected to be paid in the next 12 months.
Operating Leases. We lease certain of our land, facilities and equipment under operating leases, with terms ranging from less than one year to 20 years, some of which include options to extend for up to 20 years. At September 27, 2026 and September 28, 2025, the weighted-average remaining lease term for operating leases was eight years. Operating lease expense was $204 million for fiscal 2026 and $184 million for both fiscal 2025 and fiscal 2024. At September 27, 2026, other assets included $776 million of operating lease assets, with corresponding lease liabilities of $121 million recorded in other current liabilities and $759 million recorded in other liabilities. At September 28, 2025, other assets included $735 million of operating lease assets, with corresponding lease liabilities of $102 million recorded in other current liabilities and $730 million recorded in other liabilities.
At September 27, 2026, future lease payments under our operating leases were as follows (in millions):
2027$162 
2028157 
2029149 
2030138 
2031116 
Thereafter395 
Total future lease payments1,117 
Imputed interest(237)
Total lease liability balance$880 
v3.26.3
Segment Information
 12 Months Ended
Sep. 27, 2026
Segment Reporting [Abstract]  
Segment Information Segment Information
We are organized on the basis of products and services and have three reportable segments. Our operating segments reflect the way our businesses and management/reporting structure are organized internally and the way our Chief Operating Decision Maker (CODM), who is our CEO, reviews financial information, makes operating decisions and assesses business performance. We also consider, among other items, the way budgets and forecasts are prepared and reviewed and the basis on which executive compensation is determined, as well as the similarities and the level of centralized resource planning within our operating segments, such as the nature of products, the level of shared products, technology and other resources, production processes and customer base. 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 personal AI and compute devices and industrial, networking and robotics 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 our Data Center, QGOV (Qualcomm Government Technologies) and Modular businesses. Beginning in the first quarter of fiscal 2027, our Data Center business, which has been presented as a nonreportable segment, will be included within our QCT reportable segment, to align to how we plan to manage the business going forward.
Our CODM uses revenues and earnings (loss) before income taxes (EBT) to evaluate performance and allocate resources for our segments primarily through our budget and forecasting process. Our CODM primarily uses these metrics by comparing actual results to forecasted and prior period results. Segment EBT includes the allocation of certain corporate expenses to the segments, including depreciation and amortization expense (the majority of which is allocated to QCT). Certain income and charges are not allocated to segments in our management reports because they are not considered in evaluating the segments’ operating performance. Unallocated income and charges include certain interest expense, certain net investment income, share-based compensation, gains and losses on our deferred compensation plan liabilities and related assets and certain research and development (R&D) expenses, certain selling, general and administrative (SG&A) expenses and other expenses or income that were deemed to be not directly related to the businesses of the segments. Additionally, unallocated charges include amortization of certain intangible assets and certain other acquisition-related charges, third-party acquisition and integration services costs and certain other items, which may include major restructuring and restructuring-related costs, asset impairment charges and awards, settlements and/or damages arising from legal or regulatory matters and recognition of the step-up of inventories and property, plant and equipment to fair value. Our CODM does not evaluate our operating segments using discrete asset information.
The table below presents revenues, EBT and significant expense categories regularly provided to the CODM for reportable segments (in millions):
202620252024
QCT:
Revenues$37,208 $38,367 $33,196 
Cost of revenues19,460 19,302 16,648 
Operating expenses (R&D and SG&A)7,647 7,395 7,021 
EBT$10,101 $11,670 $9,527 
QTL:
Revenues$5,556 $5,582 $5,572 
Costs and expenses (1)1,534 1,539 1,545 
EBT$4,022 $4,043 $4,027 
QSI:
Revenues$— $— $18 
Cost of revenues— — 7 
Operating expenses11 13 12 
Investment and other income, net805 193 105 
EBT$794 $180 $104 
(1) Substantially all of QTL’s costs and expenses are comprised of operating expenses.
Consolidated revenues and EBT include the following reconciling items (in millions):
202620252024
Revenues:
Reportable segments$42,764 $43,949 $38,786 
Nonreportable segments476 192 176 
Unallocated revenues(120)143 — 
$43,120 $44,284 $38,962 
EBT:
Reportable segments$14,917 $15,893 $13,658 
Nonreportable segments(607)(39)(14)
Unallocated revenues(120)143 — 
Unallocated cost of revenues(400)(270)(229)
Unallocated research and development expenses(2,829)(2,357)(2,277)
Unallocated selling, general and administrative expenses(1,166)(783)(781)
Unallocated other expense(332)(39)(179)
Unallocated interest expense(689)(664)(697)
Unallocated investment and other income, net640 779 855 
$9,414 $12,663 $10,336 
The net book value of long-lived tangible assets located outside of the U.S. (the majority of which is located in Taiwan and the rest of the Asia-Pacific region) was $3.8 billion and $3.4 billion at September 27, 2026 and September 28, 2025, respectively. The net book value of long-lived tangible assets located in the U.S. was $3.0 billion and $2.0 billion at September 27, 2026 and September 28, 2025, respectively.
We report revenues by country based on our customer’s/licensee’s headquarters. As a result, the revenues by country presented herein are not necessarily indicative of the country in which the device containing our products and/or intellectual property are ultimately sold to consumers. Revenues by country were as follows (in millions, except percentages):
202620252024
China (including Hong Kong)$18,079 42 %$20,340 46 %$17,826 46 %
United States10,792 25 10,515 24 9,686 25 
South Korea9,467 22 9,542 21 7,995 20 
Other foreign4,782 11 3,887 9 3,455 9 
$43,120 100 %$44,284 100 %$38,962 100 %
v3.26.3
Acquisitions
 12 Months Ended
Sep. 27, 2026
Business Combination [Abstract]  
Acquisitions Acquisitions
Alphawave. On December 18, 2025 (the Alphawave Closing Date), we completed the acquisition of Alphawave IP Group plc (Alphawave) for an accounting purchase price of $2.3 billion, which primarily consisted of $1.8 billion of equity consideration from the issuance of 11 million shares of our common stock, which includes certain securities exchangeable for shares of our common stock (Exchangeable Shares), and $301 million of cash consideration. Prior to the close of the acquisition, we had agreed to restrict the use of approximately $2.3 billion of cash to be held and released upon the Alphawave Closing Date. Alphawave develops high-speed wired connectivity technologies delivering IP, custom silicon and connectivity products. The acquisition is intended to further accelerate, and provide key assets for, our expansion into data centers.
In connection with the acquisition, we issued Exchangeable Shares of Aqua ExchangeCo ULC, an indirect, wholly-owned subsidiary of QUALCOMM Incorporated, to certain Alphawave executives in exchange for their outstanding capital stock. The Exchangeable Shares (no par value; unlimited shares authorized; 4 million shares issued and outstanding as of September 27, 2026) are exchangeable for our common stock on a one-for-one basis and are substantially the economic equivalent of our common stock. The issued and outstanding Exchangeable Shares have been presented together with our common stock in our consolidated financial statements. The Exchangeable Shares had an estimated fair value of $746 million, of which $453 million is included within the $2.3 billion purchase price and the remainder is subject to a four-year service requirement post-acquisition and will be recognized as compensation expense.
The allocation of the purchase price to the assets acquired and liabilities assumed based on their fair values was as follows (in millions):
Cash$51 
Intangible assets subject to amortization251 
In-process research and development (IPR&D)120 
Goodwill2,136 
Other assets288 
Total assets2,846 
Convertible debt (1)(278)
Other liabilities(294)
Total liabilities(572)
Net assets acquired$2,274 
(1) Alphawave's outstanding unsecured convertible bonds were settled in the second quarter of fiscal 2026.
Goodwill related to this transaction was allocated to our Data Center nonreportable segment and is not deductible for tax purposes. Goodwill is primarily attributable to assembled workforce which we expect will help accelerate our expansion into data centers, and certain revenue synergies expected to arise after the acquisition such as anticipated growth from new product sales. Acquired intangible assets subject to amortization primarily consists of completed technology that will be amortized on a straight-line basis over the weighted-average useful life of five years. We valued the completed technology and IPR&D using an income approach based on significant unobservable inputs.
Modular. On July 28, 2026 (the Modular Closing Date), we completed the acquisition of Modular Inc (Modular). Total consideration transferred primarily consisted of 18 million shares issued of our common stock. This included 4 million shares that were issued to certain executives and are subject to a four-year service requirement post-acquisition, of which $342 million will be recognized as compensation expense and $325 million is included within the $2.6 billion accounting purchase price. Modular provides an open, AI-native software platform that enables AI to run efficiently across hardware architectures. The acquisition of Modular is expected to strengthen the software foundation for generative and agentic AI across data center and edge environments.
The preliminary purchase price allocation shown below could change as the fair values of the tangible and intangible assets acquired and liabilities assumed, and the related income tax effects, are finalized during the remainder of the measurement period (which will not exceed 12 months from the Modular Closing Date). The preliminary allocation of the purchase price to the assets acquired and liabilities assumed based on their fair values was as follows (in millions):
Cash and cash equivalents$77 
Intangible assets subject to amortization501 
Goodwill2,140 
Other assets7 
Total assets2,725 
Other liabilities(110)
Total liabilities(110)
Net assets acquired$2,615 
Goodwill is primarily attributable to revenue synergies expected to be realized from integrating Modular’s software into our data center solutions, and intended to further accelerate our expansion into data centers. As these benefits are expected to be realized within our Data Center business, the related goodwill has been allocated to our Data Center nonreportable segment. The goodwill is not deductible for tax purposes. Acquired intangible assets subject to amortization primarily consists of completed technology that will be amortized on a straight-line basis over the weighted-average useful life of four years. We valued the completed technology using an income approach based on significant unobservable inputs.
Other. During fiscal 2026, we acquired eight other businesses for a total accounting purchase price of $1.1 billion. These acquisitions were primarily for the purpose of executing on certain products and technology that support our QCT business, including our diversification strategy. The acquired assets primarily consisted of $313 million of intangible assets and $767 million of goodwill, with $694 million allocated to our QCT segment and $73 million allocated to our Data Center nonreportable segment, all of which is primarily attributable to assembled workforce and certain synergies expected to arise after the acquisitions.
Pro forma results of operations have not been presented because the effects of the acquisitions (including Alphawave and Modular) completed during fiscal 2026, individually and in the aggregate, were not material to our consolidated results of operations.
v3.26.3
Fair Value Measurements
 12 Months Ended
Sep. 27, 2026
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]  
Fair Value Measurements 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 September 27, 2026 (in millions):
Level 1Level 2Total
Assets:
Cash equivalents$1,250 $515 $1,765 
Marketable securities:
Corporate bonds and notes$— $1,936 $1,936 
Mortgage- and asset-backed securities— 381 381 
U.S. Treasury securities and government-related securities7 42 49 
Equity securities (1)679 — 679 
Total marketable securities686 2,359 3,045 
Derivative instruments— 39 39 
Deferred compensation plan assets1,341 — 1,341 
Total assets measured at fair value$3,277 $2,913 $6,190 
Liabilities:
Derivative instruments$— $408 $408 
Deferred compensation plan liabilities1,337 — 1,337 
Total liabilities measured at fair value$1,337 $408 $1,745 
(1) Primarily consists of equity securities in certain QSI investees that have completed initial public offerings, which remain subject to short-term lock-up restrictions on the ability to sell.
Marketable Securities. At September 27, 2026 and September 28, 2025, 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):
September 27,
2026
Years to Maturity:
Less than one year$648 
One to five years1,337 
No single maturity date381 
Total$2,366 
Debt securities with no single maturity date included mortgage- and asset-backed securities.
v3.26.3
Schedule II - Valuation and Qualifying Accounts
 12 Months Ended
Sep. 27, 2026
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]  
Schedule of Valuation and Qualifying Accounts Disclosure
SCHEDULE II
QUALCOMM Incorporated
VALUATION AND QUALIFYING ACCOUNTS

The table below details the activity of the valuation allowance on deferred tax assets for fiscal 2026, 2025 and 2024 (in millions):
Balance at
Beginning of
Period
Charged (Credited) to
Costs and
Expenses
OtherBalance at
End of
Period
Year ended September 27, 2026$8,016 $(5,586)$18 $2,448 
Year ended September 28, 20252,061 5,915 40 8,016 
Year ended September 29, 20241,803 258 — 2,061 
v3.26.3
Insider Trading Arrangements
 3 Months Ended
Sep. 27, 2026
Trading Arrangements, by Individual  
Material Terms of Trading Arrangement
During the quarter ended September 27, 2026, none of our directors or officers (as defined in Rule 16a-1(f) of the Exchange Act) adopted or terminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” as each term is defined in Item 408 of Regulation S-K.
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.26.3
Cybersecurity Risk Management and Strategy Disclosure
 12 Months Ended
Sep. 27, 2026
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block] Cybersecurity
Risk Management and Strategy
To identify, assess and manage cybersecurity risks, we maintain an IT security/cybersecurity program (Cybersecurity Program), which includes policies, procedures, processes and administrative, physical and technical controls designed to protect, defend and mitigate effects to us from cybersecurity threats and incidents. For example, we provide recurring employee cybersecurity training to help our employees better understand cybersecurity threats, our policies, actions and approach to managing this type of risk and how they can help increase our security posture.
Our Cybersecurity Program also includes an incident response process that is overseen by our Vice President of Cybersecurity and supported by an internal team of cybersecurity specialists, with involvement from business, legal and
senior management as appropriate. Cybersecurity incidents are assessed, managed and escalated to senior management, as appropriate, in accordance with that process.
We evaluate and update our cybersecurity risk profile through ongoing assessment of the cybersecurity threat landscape and security monitoring. Our cybersecurity risk profile is used as an input to identify, assess and update our Cybersecurity Program, and associated priorities are updated as new risk information becomes available. Information security, including cybersecurity, is also integrated into our overall Enterprise Risk Management (ERM) program. As part of this program, a cross-functional team including members of senior leadership evaluates risks to the enterprise and develops and monitors associated mitigation plans.
We periodically engage third-party assessors, consultants, auditors and other firms to assess our Cybersecurity Program or portions thereof, including security testing, penetration testing, and tabletop exercises in order to validate the efficacy of our security controls and response capabilities. We also utilize external advisors and specialists, as appropriate, to support cybersecurity risk management and incident response activities.
Our supplier community (including suppliers of IT services and other third-party service providers) plays a large role in Qualcomm’s success, and we believe in engaging with our suppliers to help them protect against cybersecurity threats. We operate a supplier cybersecurity assurance program, which is integrated with our procurement processes and supported by the relevant groups within the legal organization, to assess and attempt to mitigate potential cybersecurity risks across our supplier community commensurate with their cybersecurity risk. Specifically, based on a risk classification of the supplier, our third-party risk management process includes steps such as the evaluation of a supplier’s security controls, posture and maturity as well as the identification and treatment of cybersecurity-related risks.
Notwithstanding our Cybersecurity Program as described above, we cannot anticipate, detect, repel or guarantee the effectiveness of our preventative measures against all cybersecurity threats, particularly because the techniques used are increasingly sophisticated and constantly evolving. Like many companies, we have encountered intrusions and attempts to gain unauthorized access to our IT systems or other attacks and incidents, and we have had third-party service providers who have encountered intrusions. However, during fiscal 2026, we did not identify any risks from cybersecurity threats that materially affected or are reasonably anticipated to materially affect our business strategy, results of operations or financial condition. For additional information about the cybersecurity risks we face, including how such risks could affect us in the future, see “Part I, Item 1A. Risk Factors” in this Annual Report, including the Risk Factors titled “Our business and operations could suffer in the event of security breaches of our IT systems, or other misappropriation of our technology, intellectual property or other proprietary or confidential information” and “Failures in our products, or in the products of our customers or licensees, including those resulting from security vulnerabilities, defects or errors, could harm our business.”
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block] Information security, including cybersecurity, is also integrated into our overall Enterprise Risk Management (ERM) program. As part of this program, a cross-functional team including members of senior leadership evaluates risks to the enterprise and develops and monitors associated mitigation plans.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board of Directors Oversight [Text Block]
Our Board of Directors has primary responsibility for oversight of our risk management efforts, with support from its standing committees. In particular, the Audit Committee assists the Board of Directors in fulfilling its oversight responsibilities with respect to our Cybersecurity Program. As part of its oversight of IT security/cybersecurity matters, the Audit Committee receives cybersecurity updates on a quarterly basis and an IT security/cybersecurity briefing from management, typically including our Chief Information Officer (CIO) and Vice President of Cybersecurity, on at least a semi-annual basis. In addition to this regular reporting, significant cybersecurity threats or incidents may also be escalated on an as-needed basis through our organizational structure in accordance with our incident response process.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] In particular, the Audit Committee assists the Board of Directors in fulfilling its oversight responsibilities with respect to our Cybersecurity Program.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] As part of its oversight of IT security/cybersecurity matters, the Audit Committee receives cybersecurity updates on a quarterly basis and an IT security/cybersecurity briefing from management, typically including our Chief Information Officer (CIO) and Vice President of Cybersecurity, on at least a semi-annual basis.
Cybersecurity Risk Role of Management [Text Block] Key elements of our Cybersecurity Program, including defending against key cybersecurity threats and risks, are overseen by our CIO, Vice President of Cybersecurity, the Information Security and Risk Management (ISRM) organization and certain legal functions under the office of the General Counsel, which include subject matter experts focused on identifying and managing cybersecurity threats and consequences where technically feasible and commensurate with risk.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]
Key elements of our Cybersecurity Program, including defending against key cybersecurity threats and risks, are overseen by our CIO, Vice President of Cybersecurity, the Information Security and Risk Management (ISRM) organization and certain legal functions under the office of the General Counsel, which include subject matter experts focused on identifying and managing cybersecurity threats and consequences where technically feasible and commensurate with risk. Our CIO has over 30 years of experience in IT and telecommunications and previously held CIO or other IT leadership roles at other technology companies prior to joining Qualcomm. Our Vice President of Cybersecurity has over 20 years of experience in cybersecurity gained across numerous leadership roles in Qualcomm’s IT and Cybersecurity organization, including security architecture, risk and compliance, incident response, security operations and identity management. This experience is supplemented by the collective experience and expertise across the ISRM organization. Additional members of senior management, including our Chief Financial Officer and Chief Operating Officer, Chief Technology Officer, Chief Human Resources Officer and General Counsel, also support the Cybersecurity Program through regular reporting and review, and our executive leadership team receives annual updates on enterprise risks, including cybersecurity risks, as part of our ERM program.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block] Our CIO has over 30 years of experience in IT and telecommunications and previously held CIO or other IT leadership roles at other technology companies prior to joining Qualcomm. Our Vice President of Cybersecurity has over 20 years of experience in cybersecurity gained across numerous leadership roles in Qualcomm’s IT and Cybersecurity organization, including security architecture, risk and compliance, incident response, security operations and identity management.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block] As part of this program, a cross-functional team including members of senior leadership evaluates risks to the enterprise and develops and monitors associated mitigation plans.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.26.3
Significant Accounting Policies (Policies)
 12 Months Ended
Sep. 27, 2026
Accounting Policies [Abstract]  
Principles of Consolidation
Principles of Consolidation. The consolidated financial statements include the assets, liabilities and operating results of Qualcomm, its subsidiaries and any variable interest entities for which we are deemed to be the primary beneficiary. Intercompany transactions and balances have been eliminated.
Financial Statement Preparation
Financial Statement Preparation. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (GAAP) requires management to make estimates and assumptions that affect the reported amounts and the disclosure of contingent amounts in our consolidated financial statements and the accompanying notes. Examples of our significant accounting estimates and policies that may involve a higher degree of judgment and complexity than others include: the estimation of sales-based royalty revenues; the impairment of non-marketable equity investments; the valuation of inventories; the impairment of goodwill, other indefinite-lived assets and long-lived assets; the recognition, measurement and disclosure of loss contingencies related to legal and regulatory proceedings; and the calculation of our income tax provision, including the recognition and measurement of uncertain tax positions and realizability of deferred tax assets. Actual results could differ from those estimates. Certain prior year amounts have been reclassified to conform to the current year presentation.
Fiscal Year
Fiscal Year. We operate and report using a 52-53 week fiscal year ending on the last Sunday in September. Our fiscal years for 2026, 2025 and 2024 included 52 weeks, 52 weeks and 53 weeks, respectively. Our fiscal year for 2027 will include 52 weeks.
Cash Equivalents and Restricted Cash
Cash Equivalents and Restricted Cash. We consider all highly liquid investments with original maturities of 90 days or less to be cash equivalents. Cash equivalents may be comprised of money market funds, certificates of deposit, commercial paper, corporate bonds and notes and certain bank time deposits, U.S. Treasury securities and government-related securities. The carrying amounts approximate fair value due to the short maturities of these instruments. Restricted cash includes cash that is legally restricted as to withdrawal or usage (Note 9).
Marketable Securities
Marketable Securities. Marketable securities include marketable equity securities and available-for-sale debt securities. We classify marketable securities as current or noncurrent based on the nature of the securities and their availability for use in current operations. Marketable securities are stated at fair value with all realized and unrealized gains and losses on investments in marketable equity securities and realized gains and losses on available-for-sale debt securities recognized in investment and other income, net. Debt securities are classified as available-for-sale or held-to-maturity at the time of purchase and reevaluated at each balance sheet date. The realized and unrealized gains and losses on marketable securities are determined using the specific identification method.
If a debt security has an unrealized loss and we either intend to sell the security or it is more likely than not that we will be required to sell the security before its anticipated recovery, we record an impairment charge to investment and other income, net for the entire amount of the unrealized loss and adjust the amortized cost basis of the security. For the remaining debt securities, if an unrealized loss exists, we separate the impairment into the portion of the loss related to credit factors and the portion of the loss that is not related to credit factors. Unrealized gains or unrealized losses that are not related to credit factors on available-for-sale debt securities are recorded as a component of accumulated other comprehensive income, net of income taxes. Unrealized losses that are related to credit loss factors on available-for-sale debt securities and subsequent adjustments to the credit loss are recorded as an allowance for credit losses, which is included in investment and other income, net. In evaluating whether a credit loss exists, we consider a variety of factors, including the significance of the decline in value as compared to the cost basis; underlying factors contributing to a decline in the prices of securities in a single asset class; the security’s relative performance versus its peers, sector or asset class; the market and economy in general; views of external investment managers; news or financial information that has been released specific to the investee; and the outlook for the overall industry in which the investee operates.
Equity Method Investments
Equity Method and Non-marketable Equity Investments. Equity investments in common stock or in-substance common stock for which we have significant influence, but not control, over the investee and are not the primary beneficiary of the investee’s activities are accounted for under the equity method. Our share of gains and losses in equity method investments are recorded in investment and other income, net. We eliminate unrealized profit or loss related to transactions with equity method investees in relation to our ownership interest in the investee, which is recorded as a component of investment and other income, net. Non-marketable equity investments that are neither consolidated nor accounted for under the equity method and do not have a readily determinable fair value are generally measured at initial cost, less any impairment, plus or minus observable price changes in orderly transactions for identical or similar securities, if any. All gains and losses on these investments in non-marketable equity securities, realized and unrealized, are recognized in investment and other income, net. We monitor equity method and non-marketable equity investments for events or circumstances that could indicate the
investments are impaired, such as a deterioration in the investee’s financial condition and business forecasts and lower valuations in recently completed or anticipated financings, and recognize a charge to investment and other income, net for the difference between the estimated fair value and the carrying value. For equity method investments, we record impairment losses in earnings only when impairments are considered other-than-temporary.
Non-marketable Equity Investments
Equity Method and Non-marketable Equity Investments. Equity investments in common stock or in-substance common stock for which we have significant influence, but not control, over the investee and are not the primary beneficiary of the investee’s activities are accounted for under the equity method. Our share of gains and losses in equity method investments are recorded in investment and other income, net. We eliminate unrealized profit or loss related to transactions with equity method investees in relation to our ownership interest in the investee, which is recorded as a component of investment and other income, net. Non-marketable equity investments that are neither consolidated nor accounted for under the equity method and do not have a readily determinable fair value are generally measured at initial cost, less any impairment, plus or minus observable price changes in orderly transactions for identical or similar securities, if any. All gains and losses on these investments in non-marketable equity securities, realized and unrealized, are recognized in investment and other income, net. We monitor equity method and non-marketable equity investments for events or circumstances that could indicate the
investments are impaired, such as a deterioration in the investee’s financial condition and business forecasts and lower valuations in recently completed or anticipated financings, and recognize a charge to investment and other income, net for the difference between the estimated fair value and the carrying value. For equity method investments, we record impairment losses in earnings only when impairments are considered other-than-temporary.
Derivatives
Derivatives. Our primary objectives for holding derivative instruments are to manage foreign exchange risk for certain foreign currency revenues, operating expenses, receivables and payables and to manage interest rate risk associated with our cash equivalents, marketable securities and term debt. Derivative instruments are recorded at fair value and included in other current or noncurrent assets or liabilities based on their maturity dates. Counterparties to these derivative instruments are all major banking institutions. At September 27, 2026, the aggregate fair value of our derivative instruments recorded in total assets and in total liabilities were $39 million and $408 million, respectively. At September 28, 2025, the aggregate fair value of our derivative instruments recorded in total assets and in total liabilities were $59 million and $163 million, respectively.
Foreign Currency Hedges: We manage our exposure to foreign exchange market risks, when deemed appropriate, through the use of derivative instruments, including foreign currency forward and option contracts with financial counterparties, that may or may not be designated as hedging instruments. These derivative instruments generally have maturity dates between one and 24 months. Gains and losses arising from such contracts that are designated as cash flow hedging instruments are recorded as a component of accumulated other comprehensive income as gains and losses on derivative instruments, net of income taxes. The hedging gains and losses in accumulated other comprehensive income are subsequently reclassified to revenues or costs and expenses, as applicable, in the consolidated statements of operations in the same period in which the underlying transactions affect our earnings. For foreign currency forward contracts not designated as hedging instruments, the changes in fair value are recorded in investment and other income, net in the period of change.
The cash flows associated with such derivative instruments are classified as cash flows from operating activities in the consolidated statements of cash flows, which is the same category as the hedged transaction.
Interest Rate Swaps: From time to time, we enter into interest rate swap agreements that allow us to effectively convert fixed-rate payments into floating-rate payments on portions of our outstanding term debt. We enter into these agreements 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. These transactions are designated as fair value hedges, and the gains and losses related to changes in the fair value of the interest rate swaps substantially offset changes in the fair value of the hedged portion of the underlying debt that are attributable to changes in the market interest rates. The net gains and losses on the interest rate swaps, as well as the offsetting gains or losses on the related fixed-rate debt attributable to the hedged risks, are recognized as interest expense in the current period. The interest settlement payments associated with the interest rate swap agreements are classified as cash flows from operating activities in the consolidated statements of cash flows.
From time to time, we also enter into forward-starting interest rate swaps to hedge the variability of forecasted interest payments on certain anticipated debt issuances. These swaps are designated as cash flow hedges of forecasted transactions. The gains and losses arising from such contracts are recorded as a component in accumulated other comprehensive income as gains and losses on derivative instruments. When the anticipated debt is issued, any associated swaps are terminated, and the hedging gains and losses in accumulated other comprehensive income are recorded to interest expense over the term of the hedged portions of the related debt issued.
Gross Notional Amounts: The gross notional amounts of our foreign currency and interest rate derivatives by instrument type were as follows (in millions):
September 27,
2026		September 28,
2025
Forwards$4,381 $3,828 
Options527 562 
Swaps5,000 3,550 
$9,908 $7,940 
The gross notional amounts of our derivatives by currency were as follows (in millions):
September 27,
2026		September 28,
2025
Chinese renminbi$1,530 $1,396 
Indian rupee2,254 1,989 
United States dollar5,165 3,789 
Other959 766 
$9,908 $7,940 
Fair Value Measurements
Fair Value Measurements. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants as of the measurement date. Applicable accounting guidance provides an established hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs that market participants would use in valuing the asset or liability and are developed based on market data obtained from sources independent of us. Unobservable inputs are inputs that reflect our assumptions about the factors that market participants would use in valuing the asset or liability. There are three levels of input that may be used to measure fair value:
•Level 1: quoted market prices for identical assets or liabilities available in active markets.
•Level 2: observable inputs other than quoted prices included within Level 1.
•Level 3: one or more significant, unobservable inputs to derive fair value from valuation techniques.
Assets and liabilities measured at fair value are classified based on the lowest level of input that is significant to the fair value measurement. We review the fair value hierarchy classification on a quarterly basis. Changes in the observability of valuation inputs may result in a reclassification of levels for certain securities within the fair value hierarchy. We recognize transfers into and out of levels within the fair value hierarchy at the end of the fiscal month in which the actual event or change in circumstances that caused the transfer to occur.
Cash Equivalents and Marketable Securities: We obtain pricing information from quoted market prices, pricing vendors or quotes from brokers/dealers. We conduct reviews of our primary pricing vendors to determine whether the inputs used in the vendor’s pricing processes are deemed to be observable. Contractual sale restrictions are not considered in measuring the fair value of marketable equity securities. The fair value for interest-bearing securities includes accrued interest. The fair value of our marketable securities is generally determined using standard observable inputs, including reported trades, market based quotes, benchmark yields, broker/dealer quotes, issuer spreads, two-sided markets and/or benchmark securities.
Derivative Instruments: Derivative instruments that are traded on an exchange are valued using quoted market prices and are included in Level 1. Derivative instruments that are not traded on an exchange are valued using conventional calculations/models that are primarily based on observable inputs, such as foreign currency exchange rates, volatilities and interest rates, and therefore, such derivative instruments are included in Level 2.
Deferred Compensation Plan Assets and Liabilities: Our deferred compensation plan liabilities and related assets included in Level 1 consist of mutual funds and are included in other current assets and other assets. Gains and losses on the revaluation of our deferred compensation plan assets are recorded in investment and other income, net. Corresponding offsetting amounts related to the revaluation of our deferred compensation plan liabilities are included in operating expenses.
Nonrecurring Fair Value Measurements: We measure certain assets and liabilities at fair value on a nonrecurring basis. These assets and liabilities include equity method and non-marketable equity investments, assets acquired and liabilities assumed in an acquisition, and property, plant and equipment and intangible assets that are written down to fair value when they are held for sale or determined to be impaired, all of which are generally measured based on unobservable inputs using an income or market approach.
Inventories
Inventories. Inventories are valued at the lower of cost and net realizable value using the first-in, first-out method. Recoverability of inventories is assessed based on review of future customer demand that considers multiple factors, including committed purchase orders from customers as well as purchase commitment projections provided by customers and our own forecasts of customer demand, among other factors. This valuation also requires us to make judgments and assumptions based on information currently available about market conditions, including competition, anticipated technological changes, internal product life cycle and development plans, product pricing and other broader market conditions that may impact customer demand, such as the impact of the macroeconomic environment and global trade policies. We generally place binding purchase orders with our suppliers in advance of receiving contractually binding forecasts and/or purchase orders from our customers. The time period between placing purchase orders with our suppliers and receiving contractually binding forecasts and/or purchase orders from our customers has increased and may continue to increase as a result of extended manufacturing lead-times, driven in part by a continued transition to leading-edge technologies and/or increased complexity in the manufacturing process of our products. If we overestimate demand for our products, the amount of our loss will be impacted by our ability to reduce inventory purchases from our suppliers. Further, if our customers cancel purchase orders or alter forecasts this may result in excess inventory on hand. Our assumptions of future product demand are inherently uncertain, and changes in our estimates and assumptions may cause us to record additional write-downs in the future if demand forecasted for specific products is greater than actual demand.
Property, Plant and Equipment
Property, Plant and Equipment. Property, plant and equipment are recorded at cost and depreciated or amortized using the straight-line method over their estimated useful lives. Upon the retirement or disposition of property, plant and equipment, the related cost and accumulated depreciation or amortization are removed, and a gain or loss is recorded, when appropriate. Buildings on owned land are depreciated over 30 years, and building improvements are depreciated over 15 years. Leasehold improvements and buildings on leased land are amortized over the shorter of their estimated useful lives, not to exceed 15 years and 30 years, respectively, or the remaining term of the related lease. Other property, plant and equipment (which primarily relates to machinery and equipment) have useful lives ranging from 2 to 15 years. Maintenance, repairs and minor renewals or betterments are charged to expense as incurred.
Operating Leases
Operating Leases. Operating lease assets and liabilities are recognized for leases with lease terms greater than 12 months based on the present value of the future lease payments over the lease term at the commencement date. Operating leases are included in other assets, other current liabilities and other liabilities on our consolidated balance sheet. Our lease terms include options to extend or terminate the lease when it is reasonably certain that we will exercise such option. We account for substantially all lease and related non-lease components together as a single lease component. Operating lease expense is recognized on a straight-line basis over the lease term.
We lease certain of our land, facilities and equipment under operating leases, with terms ranging from less than one year to 20 years, some of which include options to extend for up to 20 years.
Goodwill and Other Intangible Assets
Goodwill and Other Intangible Assets. Goodwill represents the excess of purchase price over the value assigned to the net tangible and identifiable intangible assets of businesses acquired. Acquired intangible assets other than goodwill are amortized over their useful lives unless the lives are determined to be indefinite. For intangible assets purchased in a business combination, the estimated fair values of the assets acquired are used to establish their recorded values. Valuation techniques consistent with the market approach, income approach and/or cost approach are used to measure fair value. An estimate of fair value can be affected by many assumptions that require significant judgment. For example, the income approach generally requires us to use assumptions to estimate the present value of future cash flows, including those related to total addressable market, pricing and share forecasts, competition, technology obsolescence, future tax rates and discount rates. Our estimate of the fair value of certain assets may differ materially from that determined by others who use different assumptions or utilize different business models and from the future cash flows actually realized.
Impairment of Goodwill, Other Indefinite-Lived Assets and Long-Lived Assets
Impairment of Goodwill, Other Indefinite-Lived Assets and Long-Lived Assets. Goodwill and other indefinite-lived intangible assets are tested annually for impairment in the fourth fiscal quarter, and in interim periods if events or changes in circumstances indicate that the assets may be impaired. If a qualitative assessment is used and we determine that the fair value of a reporting unit or indefinite-lived intangible asset is more likely than not (i.e., a likelihood of more than 50%) less than its carrying amount, a quantitative impairment test will be performed. If goodwill is quantitatively assessed for impairment and a reporting unit’s carrying value exceeds its fair value, the difference is recorded as an impairment. Other indefinite-lived intangible assets are quantitatively assessed for impairment, if necessary, by comparing their estimated fair values to their carrying values. If the carrying value exceeds the fair value, the difference is recorded as an impairment. Our judgments regarding the existence of impairment indicators and future cash flows related to goodwill, other indefinite-lived assets and long-lived assets may be based on operational performance of our businesses, market conditions, expected selling price and/or other factors. Although there are inherent uncertainties in this assessment process, the estimates and assumptions we use, including estimates of future cash flows and discount rates, are consistent with our internal planning, when appropriate. If these estimates or their related assumptions change in the future, we may be required to record an impairment charge on a portion or all of such assets. Furthermore, we cannot predict the occurrence of future impairment-triggering events nor the impact such events might have on our reported asset values.
Long-lived assets, such as property, plant and equipment and intangible assets subject to amortization, are reviewed for impairment when there is evidence that events or changes in circumstances indicate that the carrying amount of an asset or asset group may not be recoverable. Recoverability of assets to be held and used is measured by comparing the carrying amount of an asset or asset group to estimated undiscounted future cash flows expected to be generated by the asset or asset group. If the carrying amount of an asset or asset group exceeds its estimated future cash flows, an impairment charge is recognized for the amount by which the carrying amount of the asset or asset group exceeds the estimated fair value of the asset or asset group. Long-lived assets to be disposed of by sale are reported at the lower of their carrying amounts or their estimated fair values less costs to sell and are not depreciated.
Revenue Recognition
Revenue Recognition. We derive revenues principally from sales of integrated circuit products and licensing of our intellectual property. We also generate revenues from licensing system software and by performing development and other services and from other product sales. The timing of revenue recognition and the amount of revenue actually recognized in each case depends upon a variety of factors, including the specific terms of each arrangement and the nature of our performance obligations.
Revenues from sales of our products are recognized upon transfer of control to the customer, which is generally at the time of shipment. Revenues from providing services are typically recognized over time as our performance obligation is satisfied. Revenues from providing services and licensing system software were each less than 5% of total revenues for all periods presented.
We grant licenses or otherwise provide rights to use portions of our intellectual property portfolio, which, among other rights, includes certain patent rights essential to and/or useful in the manufacture, sale or use of certain wireless products. License agreements contain a single performance obligation that represents ongoing access to a portfolio of intellectual property over the license term since such agreements provide the licensee the right to access a portfolio of intellectual property that exists at inception of the license agreement and to updates and new intellectual property that is added to the licensed portfolio during the term of the agreement that are highly interdependent or interrelated.
Licensees primarily pay per-unit royalties based on their sales of products incorporating or using our licensed intellectual property. Per-unit royalties are generally based upon a percentage of the wholesale (i.e., licensee’s) selling price of complete licensed products, net of certain permissible deductions (including transportation, insurance, packing costs and other items), with certain products subject to per unit minimums and/or per unit caps. Certain products may also have a fixed royalty amount per unit. We estimate and recognize sales-based royalties on such licensed products in the period in which the associated sales occur, considering all relevant information (historical, current and forecasted) that is reasonably available to us. Our estimates of sales-based royalties are based largely on preliminary royalty estimates provided by our licensees and, to
a lesser extent, an assessment of the volume of devices supplied into the market that incorporate or use our licensed intellectual property, combined with an estimate of the mix of such sales on a licensee-by-licensee basis, as well as the licensees’ average wholesale prices of such products. We also consider in our estimates of sales-based royalties any changes in pricing we plan or expect to make and certain constraints on our ability to estimate such royalties. As a result of this estimation, adjustments to revenues are required in subsequent periods to reflect changes in estimates as new information becomes available. In the periods presented, such adjustments result primarily from immaterial differences between preliminary royalty estimates provided to us by licensees and actual amounts reported and paid by licensees, which are generally received the following quarter.
We account for a contract with a customer/licensee when it is legally enforceable, the parties are committed to perform their respective obligations, the rights of the parties regarding the goods and/or services to be transferred are identified, payment terms are identified, the contract has commercial substance and collectability of substantially all of the consideration is probable, which for product sales, is generally when we have a committed customer purchase order, and for licensing revenues, is generally upon execution of a license agreement. If all such conditions are not met, revenues and any associated receivables are generally not recognized until such time that the required conditions are met. Cash collected from customers prior to a contract existing is recorded to other customer-related liabilities in other current liabilities.
From time to time, companies initiate various strategies in an attempt to negotiate, renegotiate, reduce and/or eliminate their need to pay royalties to us for the use of our intellectual property, which may include disputing, underreporting, underpaying, not reporting and/or not paying royalties owed to us under their license agreements with us, or reporting to us in a manner that is not in compliance with their contractual obligations. In such cases, we estimate and recognize licensing revenues only when we have a contract, as defined in the revenue recognition guidance, which includes, among other items, evaluating whether our license agreements remain valid and enforceable and evaluating licensees’ conduct and whether they remain committed to perform their respective obligations. We also estimate and recognize licensing revenues only to the extent it is probable that a significant reversal of cumulative revenues recognized will not occur, which includes, among other items, determining the expected impact, if any, to revenues of any license agreements that may be renegotiated and/or are newly entered into. We analyze the risk of a significant revenue reversal considering both the likelihood and magnitude of the reversal and, if necessary, constrain the amount of estimated revenues recognized in order to mitigate this risk, which may result in recognizing revenues less than amounts contractually owed to us. These aforementioned estimates may require significant judgment.
We measure revenues (including our estimates of sales-based royalties) based on the amount of consideration we expect to receive in exchange for products or services. We record reductions to revenues for customer incentive arrangements, including volume-related and other pricing rebates and cost reimbursements for marketing and other activities involving certain of our products and technologies, in the period that the related revenues are earned. For certain QCT (Qualcomm CDMA Technologies) customer incentive arrangements, there is complexity in applying certain contractual terms to determine the amount recorded as a reduction to revenues. For the periods presented, no significant reversals of revenues have been made related to such amounts previously recorded. The amounts accrued for customer incentive arrangements are recorded as a reduction to accounts receivable, net or as other current liabilities based on whether we have the intent and enforceable right of offset. Certain amounts recorded as a reduction to revenues for customer incentive arrangements are considered variable consideration and are included in the transaction price primarily based on estimating the most likely amount expected to be provided to the customer/licensee.
Adjustments made to revenues in subsequent periods to reflect changes in estimates as new information becomes available are included in our disclosure of revenues recognized from previously satisfied performance obligations (Note 2).
Revenues recognized from sales of our products and sales-based royalties are generally included in accounts receivable, net (including unbilled receivables) based on our unconditional right to payment for satisfied or partially satisfied performance obligations. Our payment terms are generally short-term in duration, with payment due shortly after delivery for product sales and within the following quarter for QTL (Qualcomm Technology Licensing) sales-based royalties.
Share-Based Compensation
Share-Based Compensation. Share-based compensation expense for equity-classified awards, principally related to restricted stock units (RSUs), is measured at the grant date, or at the acquisition date for awards assumed in business combinations, based on the estimated fair value of the award and is recognized over the employee’s requisite service period. The fair values of RSUs are estimated based on the fair market values of the underlying stock on the dates of grant or dates the RSUs are assumed. Share-based compensation expense is adjusted to exclude amounts related to share-based awards that are expected to be forfeited.
Legal and Regulatory Proceedings
Legal and Regulatory Proceedings. We are currently involved in certain legal and regulatory proceedings. Litigation and investigations are inherently uncertain, and we face difficulties in evaluating or estimating likely outcomes or ranges of possible loss in antitrust and trade regulation investigations in particular. Investigations by antitrust and trade regulation agencies are not conducted in a consistent manner across jurisdictions. Further, each country and agency have different sets of laws, rules and regulations, both substantive and procedural, as well as different legal principles, theories and potential remedies, and some agencies may seek to use the investigation to advance domestic policy goals. Depending on the jurisdiction, these investigations can involve non-transparent procedures under which we may not receive access to evidence relied upon by the enforcement agency or that may be exculpatory and may not be informed of the specific legal theories or evidence considered or relied upon by the agency. Unlike in civil litigation in the United States, in foreign proceedings, we may not be entitled to discovery or depositions, allowed to cross-examine witnesses or confront our accusers. As a result, we
may not be aware of, and may not be entitled to know, all allegations against us, or the information or documents provided to, or discovered or prepared by the agency. Accordingly, we may have little or no idea what an agency’s intent is with respect to liability, penalties or the timing of a decision. In many cases the agencies are given significant discretion, and any available precedent may have limited, if any, predictive value in their jurisdictions or other jurisdictions. Accordingly, we cannot predict the outcome of these matters. A broad range of remedies with respect to our business practices that are deemed to violate applicable laws are potentially available. These remedies may include, among others, injunctions, monetary damages or fines or other orders to pay money and the issuance of orders to cease certain conduct and/or to modify our business practices.
If there is at least a reasonable possibility that a material loss may have been incurred associated with pending legal and regulatory proceedings, we disclose such fact, and if reasonably estimable, we provide an estimate of the possible loss or range of possible loss. We record our best estimate of a loss related to pending legal and regulatory proceedings when the loss is considered probable and the amount can be reasonably estimated. Where a range of loss can be reasonably estimated with no best estimate in the range, we record the minimum estimated liability. As additional information becomes available, we assess the potential liability related to pending legal and regulatory proceedings and revise our estimates and update our disclosures accordingly. Significant judgment is required in both the determination of probability and the determination as to whether a loss is reasonably estimable. Our legal costs associated with defending ourselves are recorded to expense as incurred.
Legal Costs, Policy Significant judgment is required in both the determination of probability and the determination as to whether a loss is reasonably estimable. Our legal costs associated with defending ourselves are recorded to expense as incurred.
Foreign Currency
Foreign Currency. Certain foreign subsidiaries use a local currency as the functional currency. Resulting translation gains or losses are recorded as a component of accumulated other comprehensive income. Transaction gains or losses related to balances denominated in a currency other than the functional currency of the entity involved are recognized in the consolidated statements of operations.
Income Taxes
Income Taxes. The asset and liability approach is used to recognize deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the carrying amounts and the tax bases of assets and liabilities. Tax law and rate changes are reflected in income in the period such changes are enacted. We record a valuation allowance to reduce deferred tax assets to the amount that is more likely than not to be realized. We include interest and penalties related to income taxes, including unrecognized tax benefits, within income tax expense. We classify all deferred tax assets and liabilities as noncurrent in the consolidated balance sheets. We recognize excess tax benefits and shortfall tax detriments associated with share-based awards in the consolidated statements of operations, as a component of income tax expense, when realized.
Our income tax returns are based on calculations and assumptions that are subject to examination by the Internal Revenue Service (IRS) and other tax authorities. In addition, the calculation of our tax liabilities involves dealing with uncertainties in the application of complex tax regulations. We recognize liabilities for uncertain tax positions based on a two-step process. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained on audit, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount that is more than 50% likely of being realized upon settlement. We continually assess the likelihood and amount of potential adjustments and adjust the income tax provision, income taxes payable and deferred taxes in the period in which the facts that give rise to a revision become known. We account for accrued interest and penalties related to uncertain tax benefits as a component of income tax expense.
We are subject to income taxes in the United States and numerous foreign jurisdictions, and the assessment of our income tax positions involves dealing with uncertainties in the application of complex tax laws and regulations in various taxing jurisdictions. In addition, the application of tax laws and regulations is subject to legal and factual interpretation, judgment and uncertainty. Tax laws and regulations themselves are subject to change as a result of changes in fiscal policy, changes in legislation, the evolution of regulations and court rulings. Significant judgments and estimates are required in determining our provision for income taxes, including those related to special deductions such as FDDEI (foreign-derived deduction eligible income formerly known as foreign-derived intangible income or FDII), tax incentives, intercompany research and development cost-sharing arrangements, transfer pricing, tax credits and the realizability of deferred tax assets. While we believe we have appropriate support for the positions we have taken or that we plan to take on our tax returns, we regularly assess the potential outcomes of examinations by taxing authorities in determining the adequacy of our provision for income taxes. Therefore, the actual liability for U.S. or foreign taxes may be materially different from our estimates, which could result in the need to record additional tax liabilities or potentially reverse previously recorded tax liabilities.
Stock Repurchases
Stock Repurchases. To reflect share repurchases in the consolidated balance sheet, we (i) reduce common stock for the par value of the shares, (ii) reduce paid-in capital for the amount in excess of par to zero during the quarter in which the shares are repurchased and (iii) record the residual amount, if any, to retained earnings.
Earnings Per Share
Earnings Per 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, primarily comprised of shares issuable under our equity compensation plans and customer warrant, during the reporting period, using the treasury stock method.
The following table provides information about the diluted earnings per share calculation (in millions):
202620252024
Dilutive common share equivalents included in diluted shares9 9 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 period9 2 4 
Recent Accounting Pronouncements
Recently Adopted Accounting Pronouncement.
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 adopted the new requirements in our annual reporting for fiscal 2026 on a prospective basis (Note 3).
Recent Accounting Pronouncements Not Yet Adopted.
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 starting in fiscal 2028 on a prospective basis.
Segment Reporting, Policy We are organized on the basis of products and services and have three reportable segments.
Segment Reporting EBT Policy
Our CODM uses revenues and earnings (loss) before income taxes (EBT) to evaluate performance and allocate resources for our segments primarily through our budget and forecasting process. Our CODM primarily uses these metrics by comparing actual results to forecasted and prior period results. Segment EBT includes the allocation of certain corporate expenses to the segments, including depreciation and amortization expense (the majority of which is allocated to QCT). Certain income and charges are not allocated to segments in our management reports because they are not considered in evaluating the segments’ operating performance. Unallocated income and charges include certain interest expense, certain net investment income, share-based compensation, gains and losses on our deferred compensation plan liabilities and related assets and certain research and development (R&D) expenses, certain selling, general and administrative (SG&A) expenses and other expenses or income that were deemed to be not directly related to the businesses of the segments. Additionally, unallocated charges include amortization of certain intangible assets and certain other acquisition-related charges, third-party acquisition and integration services costs and certain other items, which may include major restructuring and restructuring-related costs, asset impairment charges and awards, settlements and/or damages arising from legal or regulatory matters and recognition of the step-up of inventories and property, plant and equipment to fair value. Our CODM does not evaluate our operating segments using discrete asset information.
v3.26.3
Significant Accounting Policies (Tables)
 12 Months Ended
Sep. 27, 2026
Accounting Policies [Abstract]  
Notional Amounts of Outstanding Derivative Positions
Gross Notional Amounts: The gross notional amounts of our foreign currency and interest rate derivatives by instrument type were as follows (in millions):
September 27,
2026		September 28,
2025
Forwards$4,381 $3,828 
Options527 562 
Swaps5,000 3,550 
$9,908 $7,940 
The gross notional amounts of our derivatives by currency were as follows (in millions):
September 27,
2026		September 28,
2025
Chinese renminbi$1,530 $1,396 
Indian rupee2,254 1,989 
United States dollar5,165 3,789 
Other959 766 
$9,908 $7,940 
Schedule of diluted earnings per share
The following table provides information about the diluted earnings per share calculation (in millions):
202620252024
Dilutive common share equivalents included in diluted shares9 9 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 period9 2 4 
v3.26.3
Composition of Certain Financial Statement Items (Tables)
 12 Months Ended
Sep. 27, 2026
Balance Sheet Related Disclosures [Abstract]  
Accounts Receivable
Accounts Receivable (in millions)
September 27,
2026		September 28,
2025
Trade, net of allowances for doubtful accounts $2,671 $2,855 
Unbilled1,504 1,443 
Other24 17 
$4,199 $4,315 
Inventories
Inventories (in millions)
September 27,
2026		September 28,
2025
Raw materials$657 $336 
Work-in-process5,450 3,985 
Finished goods2,533 2,205 
$8,640 $6,526 
Property, Plant, and Equipment
Property, Plant and Equipment (in millions)
September 27,
2026		September 28,
2025
Land$167 $168 
Buildings and improvements1,864 1,915 
Computer equipment and software3,024 2,165 
Machinery and equipment10,119 9,360 
Furniture and office equipment156 148 
Leasehold improvements630 594 
Construction in progress224 154 
16,184 14,504 
Less accumulated depreciation and amortization(10,080)(9,814)
$6,104 $4,690 
Goodwill The following table presents the goodwill allocated to our reportable and nonreportable segments, as described in Note 8, as well as the changes in the carrying amounts of goodwill during fiscal 2026 and 2025 (in millions):
QCTQTLNonreportable SegmentsTotal
Balance at September 29, 2024$10,065 $734 $— $10,799 
Acquisitions526 — — 526 
Foreign currency translation adjustments32 1 — 33 
Balance at September 28, 2025 (1)10,623 735 — 11,358 
Acquisitions694 — 4,349 5,043 
Foreign currency translation adjustments(30)(1)4 (27)
Balance at September 27, 2026 (1)$11,287 $734 $4,353 $16,374 
(1) Cumulative goodwill impairments were $812 million at both September 27, 2026 and September 28, 2025.
Intangible Assets
The components of other intangible assets, net were as follows (in millions):
September 27, 2026September 28, 2025
Gross Carrying
Amount		Accumulated
Amortization		Weighted-average amortization period
(years)		Gross Carrying
Amount		Accumulated
Amortization		Weighted-average amortization period
(years)
Technology-based$3,447 $(1,542)8$2,553 $(1,421)9
Other88 (68)1070 (54)11
$3,535 $(1,610)8$2,623 $(1,475)9
Equity Method and Non-marketable Equity Investments The carrying values of our equity method and non-marketable equity investments are recorded in other assets and were as follows (in millions):
September 27,
2026		September 28,
2025
Equity method investments$408 $163 
Non-marketable equity investments (1)1,574 1,216 
$1,982 $1,379 
(1) Cumulative unrealized gains were $548 million and $394 million at September 27, 2026 and September 28, 2025, respectively. Cumulative unrealized losses, including impairments, were $395 million and $457 million at September 27, 2026 and September 28, 2025, respectively.
Other Current Liabilities
Other Current Liabilities (in millions)
September 27,
2026		September 28,
2025
Customer incentives and other customer-related liabilities$2,644 $1,948 
Income taxes payable581 1,007 
Unearned revenues200 358 
Other1,130 1,201 
$4,555 $4,514 
QCT Revenues Disaggregated
QCT revenue streams were as follows (in millions):
202620252024
Handsets (1)$24,072 $27,793 $24,863 
Automotive (2)6,004 3,957 2,910 
IoT (internet of things) (3)7,132 6,617 5,423 
Total QCT revenues$37,208 $38,367 $33,196 
(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 ADAS/AD.
(3) Primarily includes products sold for use in the following industries and applications: personal AI and compute (including personal computers (PCs), extended reality (XR) and other personal computing devices) and industrial, networking and robotics (including mobile broadband, wireless access points, handhelds, retail, tracking and logistics, and other commercial and home applications).
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 QTL royalty revenues recognized related to devices sold in prior periods (including revenues resulting from certain settlements and adjustments to prior period royalty estimates, which includes the impact of the reporting by our licensees of actual royalties due) and were as follows (in millions):
202620252024
Revenues recognized from previously satisfied performance obligations$533 $783 $558 
Concentrations Revenues from each customer/licensee that were 10% or greater of total revenues were as follows:
202620252024
Customer/licensee (x)22%21%22%
Customer/licensee (y)202019
Customer/licensee (z)*1312
* Less than 10%
Investment and Other Income, net
Investment and Other Income, Net (in millions)
202620252024
Interest and dividend income$424 $639 $675 
Net gains on marketable securities (1)386 254 14 
Net gains on other investments252 44 175 
Net gains on deferred compensation plan assets176 127 198 
Impairment losses on other investments(88)(113)(79)
Net gains (losses) on equity method investments258 12 (10)
Other37 9 (11)
$1,445 $972 $962 
(1) Primarily consist of net unrealized gains related to certain marketable equity securities.
v3.26.3
Income Taxes (Tables)
 12 Months Ended
Sep. 27, 2026
Income Tax Disclosure [Abstract]  
Income before Income Tax, Domestic and Foreign
The components of income from continuing operations before income taxes by U.S. and foreign jurisdictions were as follows (in millions):
202620252024
United States$6,990 $11,174 $9,169 
Foreign2,424 1,489 1,167 
$9,414 $12,663 $10,336 
Components of Income Tax Expense (Benefit)
The components of the income tax provision from continuing operations were as follows (in millions):
202620252024
Current provision:
Federal$405 $1,682 $1,306 
State14 7 3 
Foreign (1)431 981 805 
850 2,670 2,114 
Deferred (benefit) provision:
Federal(5,118)4,373 (1,553)
State— (5)(4)
Foreign (1)54 84 (331)
(5,064)4,452 (1,888)
$(4,214)$7,122 $226 
(1) The foreign component of the income tax provision included foreign withholding taxes on royalty revenues included in U.S. earnings.
Effective Income Tax Rate Reconciliation
The following is a reconciliation of the expected statutory federal income tax provision to our actual income tax provision from continuing operations for fiscal 2026 (in millions, except percentages). A significant portion of our U.S. income qualifies for preferential treatment as FDDEI at a 13% effective tax rate.
2026
Expected income tax provision at federal statutory tax rate (1)$1,977 21%
Foreign tax effects (2):
China230 2%
Singapore(195)(2%)
South Korea173 2%
Other foreign jurisdictions167 2%
Effect of cross-border tax laws:
Benefit from foreign-derived deduction eligible income (FDDEI)(368)(4%)
Income from branches360 4%
Other124 1%
Tax credits:
Foreign tax credit(752)(8%)
Research and development credits(229)(2%)
Changes in valuation allowance(5,781)(61%)
Nontaxable or nondeductible items176 2%
Other(96)(1%)
$(4,214)(45%)
(1) Percentages may not sum due to rounding.
(2) Foreign tax effects in China and South Korea primarily relate to withholding tax and in Singapore primarily relate to non-resident source investment income.
The following is a reconciliation of the expected statutory federal income tax provision to our actual income tax provision from continuing operations for fiscal 2025 and 2024 (in millions):
20252024
Expected income tax provision at federal statutory tax rate$2,659 $2,171 
Change in valuation allowance on federal deferred tax assets
5,724 — 
Benefit from FDDEI deduction(1,227)(1,181)
Benefit related to research and development tax credits(237)(259)
Excess tax (benefit) deficiency associated with share-based awards(120)(176)
Benefit related to the transfer of intellectual property between foreign subsidiaries(8)(317)
Other331 (12)
$7,122 $226 
Effective tax rate56%2%
Schedule of Cash Flow, Supplemental Disclosures
Our cash paid for income taxes, net of refunds received, for fiscal 2026 was as follows (in millions):
2026
Federal$826 
State19 
Foreign799 
Cash paid for income taxes, net of refunds received$1,644 
Deferred Tax Assets and Liabilities
We had deferred tax assets and deferred tax liabilities as follows (in millions):
September 27,
2026		September 28,
2025
Capitalized research and development expenditures$3,737 $4,194 
Unused tax credits2,912 2,527 
Customer incentives620 790 
Accrued liabilities and reserves425 410 
Unused net operating losses342 708 
Other1,417 1,069 
Total gross deferred tax assets9,453 9,698 
Valuation allowance(2,448)(8,016)
Total net deferred tax assets7,005 1,682 
Intangible assets(425)(367)
Unrealized gains on other investments and marketable securities(388)(212)
Operating lease assets(275)(256)
Other(283)(235)
Total deferred tax liabilities(1,371)(1,070)
Net deferred tax assets$5,634 $612 
Reported as:
Non-current deferred tax assets$5,783 $743 
Non-current deferred tax liabilities (1)(149)(131)
$5,634 $612 
(1) Non-current deferred tax liabilities were included in other liabilities in the consolidated balance sheets.
Unrecognized Tax Benefits Roll Forward
A summary of the changes in the amount of unrecognized tax benefits for fiscal 2026, 2025 and 2024 follows (in millions):
202620252024
Beginning balance of unrecognized tax benefits$2,668 $2,450 $2,296 
Additions based on prior year tax positions145 158 2 
Reductions for prior year tax positions and lapse in statute of limitations— (93)(1)
Additions for current year tax positions180 153 153 
Ending balance of unrecognized tax benefits$2,993 $2,668 $2,450 
v3.26.3
Capital Stock Shares Outstanding (Tables)
 12 Months Ended
Sep. 27, 2026
Shares Outstanding [Abstract]  
Schedule of Capital Units [Table Text Block]
Shares Outstanding. Shares of common stock outstanding at September 27, 2026 were as follows (in millions):
Balance at September 28, 20251,074 
Issued46 
Repurchased(48)
Balance at September 27, 20261,072
Schedule of Warrants Valuation Assumptions
The following is a summary of assumptions used to calculate the fair value of the Warrant Shares on the date of issuance using the Black-Scholes option pricing model:
Expected volatility38.0%
Expected term (in years)10
Risk-free interest rate4.7%
Expected dividend yield2.2%
v3.26.3
Employee Benefit Plans (Tables)
 12 Months Ended
Sep. 27, 2026
Employee Benefit and Share-Based Payment Arrangement, Noncash Expense [Abstract]  
Share-based Compensation Arrangements by Share-based Payment Award
The following is a summary of employee RSU transactions that contain only service requirements to vest:
Number of Shares
(in millions)		Weighted-Average
Grant Date Fair Value
RSUs outstanding at September 28, 202528 $151.75 
RSUs granted23 176.02 
RSUs assumed in acquisition1 169.56 
RSUs canceled/forfeited(3)165.88 
RSUs vested(19)152.52 
RSUs outstanding at September 27, 202630 169.02 
Share-based Compensation Expense Total share-based compensation expense, related to all of our share-based awards, was comprised as follows (in millions):
202620252024
Cost of revenues$101 $89 $89 
Research and development2,569 2,141 2,024 
Selling, general and administrative782 553 535 
Share-based compensation expense before income taxes3,452 2,783 2,648 
Related income tax benefit(441)(616)(662)
$3,011 $2,167 $1,986 
v3.26.3
Debt (Tables)
 12 Months Ended
Sep. 27, 2026
Debt Disclosure [Abstract]  
Term Debt The following table provides a summary of our term debt:
September 27, 2026September 28, 2025
MaturitiesAmount
(in millions)		Effective RateMaturitiesAmount
(in millions)		Effective Rate
Fixed-rate notes
2027 - 2053
$15,107 
2.63% - 6.06%
2027 - 2053
$15,107 
2.39% - 5.12%
Total principal15,107 15,107 
Unamortized discount, including debt issuance costs(175)(201)
Hedge accounting adjustments(319)(95)
Total term debt$14,613 $14,811 
Reported as:
Short-term debt$1,993 $— 
Long-term debt12,620 14,811 
 Total$14,613 $14,811 
Schedule of Maturities of Term Debt
At September 27, 2026, future principal payments of our term debt were as follows (in millions):
2027$2,000 
2028962 
2029— 
20301,700 
2031— 
Thereafter10,445 
Total$15,107 
v3.26.3
Commitments and Contingencies (Tables)
 12 Months Ended
Sep. 27, 2026
Commitments and Contingencies Disclosure [Abstract]  
Lessee, Operating Lease, Liability, Maturity
At September 27, 2026, future lease payments under our operating leases were as follows (in millions):
2027$162 
2028157 
2029149 
2030138 
2031116 
Thereafter395 
Total future lease payments1,117 
Imputed interest(237)
Total lease liability balance$880 
v3.26.3
Segment Information (Tables)
 12 Months Ended
Sep. 27, 2026
Segment Reporting [Abstract]  
Revenues, EBT, and Assets for reportable segments
The table below presents revenues, EBT and significant expense categories regularly provided to the CODM for reportable segments (in millions):
202620252024
QCT:
Revenues$37,208 $38,367 $33,196 
Cost of revenues19,460 19,302 16,648 
Operating expenses (R&D and SG&A)7,647 7,395 7,021 
EBT$10,101 $11,670 $9,527 
QTL:
Revenues$5,556 $5,582 $5,572 
Costs and expenses (1)1,534 1,539 1,545 
EBT$4,022 $4,043 $4,027 
QSI:
Revenues$— $— $18 
Cost of revenues— — 7 
Operating expenses11 13 12 
Investment and other income, net805 193 105 
EBT$794 $180 $104 
(1) Substantially all of QTL’s costs and expenses are comprised of operating expenses.
Reconciling items for reportable segments - revenues
Consolidated revenues and EBT include the following reconciling items (in millions):
202620252024
Revenues:
Reportable segments$42,764 $43,949 $38,786 
Nonreportable segments476 192 176 
Unallocated revenues(120)143 — 
$43,120 $44,284 $38,962 
EBT:
Reportable segments$14,917 $15,893 $13,658 
Nonreportable segments(607)(39)(14)
Unallocated revenues(120)143 — 
Unallocated cost of revenues(400)(270)(229)
Unallocated research and development expenses(2,829)(2,357)(2,277)
Unallocated selling, general and administrative expenses(1,166)(783)(781)
Unallocated other expense(332)(39)(179)
Unallocated interest expense(689)(664)(697)
Unallocated investment and other income, net640 779 855 
$9,414 $12,663 $10,336 
Reconciling items for reportable segments - EBT
Consolidated revenues and EBT include the following reconciling items (in millions):
202620252024
Revenues:
Reportable segments$42,764 $43,949 $38,786 
Nonreportable segments476 192 176 
Unallocated revenues(120)143 — 
$43,120 $44,284 $38,962 
EBT:
Reportable segments$14,917 $15,893 $13,658 
Nonreportable segments(607)(39)(14)
Unallocated revenues(120)143 — 
Unallocated cost of revenues(400)(270)(229)
Unallocated research and development expenses(2,829)(2,357)(2,277)
Unallocated selling, general and administrative expenses(1,166)(783)(781)
Unallocated other expense(332)(39)(179)
Unallocated interest expense(689)(664)(697)
Unallocated investment and other income, net640 779 855 
$9,414 $12,663 $10,336 
Revenue from external customers attributed to foreign countries by geographic area
We report revenues by country based on our customer’s/licensee’s headquarters. As a result, the revenues by country presented herein are not necessarily indicative of the country in which the device containing our products and/or intellectual property are ultimately sold to consumers. Revenues by country were as follows (in millions, except percentages):
202620252024
China (including Hong Kong)$18,079 42 %$20,340 46 %$17,826 46 %
United States10,792 25 10,515 24 9,686 25 
South Korea9,467 22 9,542 21 7,995 20 
Other foreign4,782 11 3,887 9 3,455 9 
$43,120 100 %$44,284 100 %$38,962 100 %
v3.26.3
Acquisitions (Tables)
 12 Months Ended
Sep. 27, 2026
Business Combination [Abstract]  
Preliminary allocation of purchase price
The allocation of the purchase price to the assets acquired and liabilities assumed based on their fair values was as follows (in millions):
Cash$51 
Intangible assets subject to amortization251 
In-process research and development (IPR&D)120 
Goodwill2,136 
Other assets288 
Total assets2,846 
Convertible debt (1)(278)
Other liabilities(294)
Total liabilities(572)
Net assets acquired$2,274 
(1) Alphawave's outstanding unsecured convertible bonds were settled in the second quarter of fiscal 2026.
The preliminary allocation of the purchase price to the assets acquired and liabilities assumed based on their fair values was as follows (in millions):
Cash and cash equivalents$77 
Intangible assets subject to amortization501 
Goodwill2,140 
Other assets7 
Total assets2,725 
Other liabilities(110)
Total liabilities(110)
Net assets acquired$2,615 
v3.26.3
Fair Value Measurements (Tables)
 12 Months Ended
Sep. 27, 2026
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [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 September 27, 2026 (in millions):
Level 1Level 2Total
Assets:
Cash equivalents$1,250 $515 $1,765 
Marketable securities:
Corporate bonds and notes$— $1,936 $1,936 
Mortgage- and asset-backed securities— 381 381 
U.S. Treasury securities and government-related securities7 42 49 
Equity securities (1)679 — 679 
Total marketable securities686 2,359 3,045 
Derivative instruments— 39 39 
Deferred compensation plan assets1,341 — 1,341 
Total assets measured at fair value$3,277 $2,913 $6,190 
Liabilities:
Derivative instruments$— $408 $408 
Deferred compensation plan liabilities1,337 — 1,337 
Total liabilities measured at fair value$1,337 $408 $1,745 
(1) Primarily consists of equity securities in certain QSI investees that have completed initial public offerings, which remain subject to short-term lock-up restrictions on the ability to sell.
Investments Classified by Contractual Maturity Date
The contractual maturities of available-for-sale debt securities were as follows (in millions):
September 27,
2026
Years to Maturity:
Less than one year$648 
One to five years1,337 
No single maturity date381 
Total$2,366 
v3.26.3
Schedule II - Valuation and Qualifying Accounts (Tables)
 12 Months Ended
Sep. 27, 2026
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]  
Summary of Valuation Allowance
The table below details the activity of the valuation allowance on deferred tax assets for fiscal 2026, 2025 and 2024 (in millions):
Balance at
Beginning of
Period
Charged (Credited) to
Costs and
Expenses
OtherBalance at
End of
Period
Year ended September 27, 2026$8,016 $(5,586)$18 $2,448 
Year ended September 28, 20252,061 5,915 40 8,016 
Year ended September 29, 20241,803 258 — 2,061 
v3.26.3
Significant Accounting Policies Derivatives and Other Hedging Activities (Details) - USD ($)
$ in Millions
Sep. 27, 2026
Sep. 28, 2025
Derivative    
Derivative Asset, Fair Value Recorded in Assets $ 39 $ 59
Derivative Liability, Fair Value Recorded in Liabilities 408 163
Derivative, Notional Amount 9,908 7,940
Chinese renminbi    
Derivative    
Derivative, Notional Amount 1,530 1,396
Indian rupee    
Derivative    
Derivative, Notional Amount 2,254 1,989
United States dollar    
Derivative    
Derivative, Notional Amount 5,165 3,789
Other    
Derivative    
Derivative, Notional Amount 959 766
Forwards    
Derivative    
Derivative, Notional Amount 4,381 3,828
Options    
Derivative    
Derivative, Notional Amount 527 562
Swaps    
Derivative    
Derivative, Notional Amount $ 5,000 $ 3,550
Minimum | Foreign Currency Hedges [Member]    
Derivative    
Derivative, Remaining Maturity 1 month 1 month
Maximum | Foreign Currency Hedges [Member]    
Derivative    
Derivative, Remaining Maturity 24 months 24 months
v3.26.3
Significant Accounting Policies Property, Plant and Equipment (Details)
Sep. 27, 2026
Building  
Property, Plant, and Equipment  
Property, Plant, and Equipment, Useful Life 30 years
Building | Maximum  
Property, Plant, and Equipment  
Property, Plant, and Equipment, Useful Life 30 years
Building Improvements  
Property, Plant, and Equipment  
Property, Plant, and Equipment, Useful Life 15 years
Leasehold Improvements | Maximum  
Property, Plant, and Equipment  
Property, Plant, and Equipment, Useful Life 15 years
Property, Plant and Equipment, Other Types | Minimum  
Property, Plant, and Equipment  
Property, Plant, and Equipment, Useful Life 2 years
Property, Plant and Equipment, Other Types | Maximum  
Property, Plant, and Equipment  
Property, Plant, and Equipment, Useful Life 15 years
v3.26.3
Significant Accounting Policies Revenue Recognition (Details)
 12 Months Ended
Sep. 27, 2026
Sep. 28, 2025
Sep. 29, 2024
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue      
Revenue, Performance Obligation, Description of Payment Terms Our payment terms are generally short-term in duration, with payment due shortly after delivery for product sales and within the following quarter for QTL (Qualcomm Technology Licensing) sales-based royalties.    
Service, Other      
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue      
Revenues from providing services and licensing system software, percentage 5.00% 5.00% 5.00%
v3.26.3
Significant Accounting Policies Earnings Per Common Share (Details) - shares
shares in Millions
 12 Months Ended
Sep. 27, 2026
Sep. 28, 2025
Sep. 29, 2024
Incremental Dilutive Common Share Equivalents      
Dilutive common share equivalents included in diluted shares 9 9 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 9 2 4
v3.26.3
Composition of Certain Financial Statement Items Accounts Receivable (Details) - USD ($)
$ in Millions
Sep. 27, 2026
Sep. 28, 2025
Accounts Receivable, after Allowance for Credit Loss [Abstract]    
Trade, net of allowances for doubtful accounts $ 2,671 $ 2,855
Unbilled 1,504 1,443
Other 24 17
Accounts receivable, net $ 4,199 $ 4,315
v3.26.3
Composition of Certain Financial Statement Items Inventories (Details) - USD ($)
$ in Millions
Sep. 27, 2026
Sep. 28, 2025
Inventory, Net [Abstract]    
Raw materials $ 657 $ 336
Work-in-process 5,450 3,985
Finished goods 2,533 2,205
Inventories $ 8,640 $ 6,526
v3.26.3
Composition of Certain Financial Statement Items Property, Plant and Equipment (Details) - USD ($)
$ in Millions
 12 Months Ended
Sep. 27, 2026
Sep. 28, 2025
Sep. 29, 2024
Property, Plant, and Equipment [Abstract]      
Land $ 167 $ 168  
Buildings and improvements 1,864 1,915  
Computer equipment and software 3,024 2,165  
Machinery and equipment 10,119 9,360  
Furniture and office equipment 156 148  
Leasehold improvements 630 594  
Construction in progress 224 154  
Property, plant and equipment, gross 16,184 14,504  
Less accumulated depreciation and amortization (10,080) (9,814)  
Property, plant and equipment, net 6,104 4,690  
Depreciation and amortization expense $ 1,200 $ 1,300 $ 1,400
v3.26.3
Composition of Certain Financial Statement Items Goodwill (Details) - USD ($)
$ in Millions
 12 Months Ended
Sep. 27, 2026
Sep. 28, 2025
Goodwill [Roll Forward]    
Beginning balance $ 11,358 [1] $ 10,799
Acquisitions 5,043 526
Foreign currency translation adjustments (27) 33
Ending balance [1] 16,374 11,358
Cumulative goodwill impairments 812 812
QCT    
Goodwill [Roll Forward]    
Beginning balance 10,623 [1] 10,065
Acquisitions 694 526
Foreign currency translation adjustments (30) 32
Ending balance [1] 11,287 10,623
QTL    
Goodwill [Roll Forward]    
Beginning balance 735 [1] 734
Acquisitions 0 0
Foreign currency translation adjustments (1) 1
Ending balance [1] 734 735
Nonreportable Segments    
Goodwill [Roll Forward]    
Beginning balance 0 [1] 0
Acquisitions 4,349 0
Foreign currency translation adjustments 4 0
Ending balance [1] $ 4,353 $ 0
[1] Cumulative goodwill impairments were $812 million at both September 27, 2026 and September 28, 2025.
v3.26.3
Composition of Certain Financial Statement Items Other Intangible Assets (Details) - USD ($)
$ in Millions
 12 Months Ended
Sep. 27, 2026
Sep. 28, 2025
Sep. 29, 2024
Other intangible assets      
Gross Carrying Amount $ 3,535 $ 2,623  
Accumulated Amortization $ (1,610) $ (1,475)  
Weighted-average amortization period (years) 8 years 9 years  
In-process research and development (IPR&D) $ 280 $ 0  
Amortization of intangible assets 423 321 $ 311
Amortization expense, Fiscal 2026 475    
Amortization expense, Fiscal 2027 457    
Amortization expense, Fiscal 2028 406    
Amortization expense, Fiscal 2029 329    
Amortization expense, Fiscal 2030 138    
Amortization expense, thereafter 120    
Technology-based      
Other intangible assets      
Gross Carrying Amount 3,447 2,553  
Accumulated Amortization $ (1,542) $ (1,421)  
Weighted-average amortization period (years) 8 years 9 years  
Other      
Other intangible assets      
Gross Carrying Amount $ 88 $ 70  
Accumulated Amortization $ (68) $ (54)  
Weighted-average amortization period (years) 10 years 11 years  
v3.26.3
Composition of Certain Financial Statement Items Equity Method and Non-marketable Equity Investments (Details) - USD ($)
$ in Millions
Sep. 27, 2026
Sep. 28, 2025
Equity Method and Non-Marketable Equity Investments [Abstract]    
Equity method investments $ 408 $ 163
Non-marketable equity investments [1] 1,574 1,216
Carrying value of equity method and non-marketable equity investments 1,982 1,379
Equity Securities without Readily Determinable Fair Value, Upward Price Adjustment, Cumulative Amount 548 394
Equity Securities without Readily Determinable Fair Value, Downward Price Adjustment, Cumulative Amount $ 395 $ 457
[1] Cumulative unrealized gains were $548 million and $394 million at September 27, 2026 and September 28, 2025, respectively. Cumulative unrealized losses, including impairments, were $395 million and $457 million at September 27, 2026 and September 28, 2025, respectively.
v3.26.3
Composition of Certain Financial Statement Items Other Current Liabilities (Details) - USD ($)
$ in Millions
Sep. 27, 2026
Sep. 28, 2025
Other Liabilities, Current [Abstract]    
Customer incentives and other customer-related liabilities $ 2,644 $ 1,948
Income taxes payable 581 1,007
Unearned revenues 200 358
Other 1,130 1,201
Other current liabilities $ 4,555 $ 4,514
v3.26.3
Composition of Certain Financial Statement Items Revenues (Details) - USD ($)
$ in Millions
 12 Months Ended
Sep. 27, 2026
Sep. 28, 2025
Sep. 29, 2024
Revenues      
Revenues $ 43,120 $ 44,284 $ 38,962
Contract with Customer, Performance Obligation Satisfied in Previous Period $ 533 783 558
Minimum      
Revenues      
Patent license agreement expiration period 2030    
Maximum      
Revenues      
Patent license agreement expiration period 2033    
QCT      
Revenues      
Revenues $ 37,208 38,367 33,196
QCT | Handsets      
Revenues      
Revenues [1] 24,072 27,793 24,863
QCT | Automotive      
Revenues      
Revenues [2] 6,004 3,957 2,910
QCT | IoT (internet of things)      
Revenues      
Revenues [3] $ 7,132 $ 6,617 $ 5,423
[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 ADAS/AD.
[3] Primarily includes products sold for use in the following industries and applications: personal AI and compute (including personal computers (PCs), extended reality (XR) and other personal computing devices) and industrial, networking and robotics (including mobile broadband, wireless access points, handhelds, retail, tracking and logistics, and other commercial and home applications).
v3.26.3
Composition of Certain Financial Statement Items Concentrations (Details) - Customer Concentration Risk - Revenue Benchmark
 12 Months Ended
Sep. 27, 2026
Sep. 28, 2025
Sep. 29, 2024
Customer/licensee (x)      
Concentration Risk      
Percentage of total 22.00% 21.00% 22.00%
Customer/licensee (y)      
Concentration Risk      
Percentage of total 20.00% 20.00% 19.00%
Customer/licensee (z)      
Concentration Risk      
Percentage of total   13.00% 12.00%
v3.26.3
Composition of Certain Financial Statement Items Investment and Other Income, Net (Details) - USD ($)
$ in Millions
 12 Months Ended
Sep. 27, 2026
Sep. 28, 2025
Sep. 29, 2024
Investment Income, Net [Abstract]      
Interest and dividend income $ 424 $ 639 $ 675
Net gains on marketable securities (1) [1] 386 254 14
Net gains on other investments 252 44 175
Net gains on deferred compensation plan assets 176 127 198
Impairment losses on other investments without readily determinable fair value (88) (113) (79)
Other 37 9 (11)
Investment and other income, net 1,445 972 962
Income (Loss) from Equity Method Investments $ 258 $ 12 $ (10)
[1] Primarily consist of net unrealized gains related to certain marketable equity securities
v3.26.3
Income Taxes (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Mar. 29, 2026
Sep. 27, 2026
Sep. 28, 2025
Sep. 29, 2024
Components of income before income taxes        
United States   $ 6,990 $ 11,174 $ 9,169
Foreign   2,424 1,489 1,167
Income from continuing operations before income taxes   9,414 12,663 10,336
Current provision (benefit):        
Federal   405 1,682 1,306
State   14 7 3
Foreign [1]   431 981 805
Current Income tax provision   850 2,670 2,114
Deferred (benefit) provision:        
Federal   (5,118) 4,373 (1,553)
State   0 (5) (4)
Foreign [1]   54 84 (331)
Deferred provision (benefit)   (5,064) 4,452 (1,888)
Effective Income Tax Rate Reconciliation, Amount [Abstract]        
Expected income tax provision at federal statutory tax rate   $ 1,977 [2] 2,659 2,171
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent [2]   21.00%    
Benefit from FDDEI deduction   $ (368) (1,227) (1,181)
Effective Income Tax Rate Reconciliation, FDDEI, Percent   4.00%    
Effective Income Tax Rate Reconciliation, Cross-Border, Income From Branches, Amount   $ 360    
Effective Income Tax Rate Reconciliation, Cross-Border, Income From Branches, Percent   4.00%    
Effective Income Tax Rate Reconciliation, Cross-Border, Other, Amount   $ 124    
Effective Income Tax Rate Reconciliation, Cross-Border, Other, Percent   1.00%    
Change in valuation allowance on federal deferred tax assets     5,724 0
Benefit related to research and development tax credits   $ (229) (237) (259)
Effective Income Tax Rate Reconciliation, Tax Credit, Research, Percent   (2.00%)    
Benefit from releasing valuation allowance on unutilized foreign loss carryforwards   $ (5,781)    
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Percent   (61.00%)    
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Amount   $ 176    
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Percent   2.00%    
Other   $ (96) 331 (12)
Effective Income Tax Rate Reconciliation, Other Adjustments, Percent   (1.00%)    
Excess tax (benefit) deficiency associated with share-based awards     (120) (176)
Benefit related to the transfer of intellectual property between foreign subsidiaries     (8) (317)
Income Tax Expense (Benefit)   $ (4,214) $ 7,122 $ 226
Effective tax rate   (45.00%) 56.00% 2.00%
Income Taxes Receivable, Noncurrent   $ 2,700 $ 2,200  
Liability for Uncertainty in Income Taxes, Noncurrent   3,000 2,600  
Deferred Tax Assets        
Capitalized research and development expenditures   3,737 4,194  
Unused tax credits   2,912 2,527  
Customer incentives   620 790  
Accrued liabilities and reserves   425 410  
Unused net operating losses   342 708  
Other   1,417 1,069  
Total gross deferred tax assets   9,453 9,698  
Valuation allowance   (2,448) (8,016)  
Total net deferred tax assets   7,005 1,682  
Non-current deferred tax assets   5,783 743  
Deferred Tax Liabilities        
Intangible assets   (425) (367)  
Unrealized gains on other investments and marketable securities   (388) (212)  
Operating lease assets   (275) (256)  
Other   (283) (235)  
Total deferred tax liabilities   (1,371) (1,070)  
Net deferred tax assets   5,634 612  
Changes in the amount of unrecognized tax benefits: [Roll Forward]        
Beginning balance of unrecognized tax benefits   2,668 2,450 $ 2,296
Additions based on prior year tax positions   145 158 2
Reductions for prior year tax positions and lapse in statute of limitations   0 (93) (1)
Additions for current year tax positions   180 153 153
Ending balance of unrecognized tax benefits   2,993 2,668 2,450
Unrecognized Tax Benefits that Would Impact Effective Tax Rate   186    
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued   501    
Income Taxes Receivable   372    
Income Tax Paid, after Refund Received [Abstract]        
Income Tax Paid, Federal, after Refund Received   826    
Income Tax Paid, State and Local, after Refund Received   19    
Income Tax Paid, Foreign, after Refund Received   799    
Cash paid for income taxes, net of refunds received   $ 1,644 3,100 $ 3,300
Tax Jurisdiction of Domicile [Extensible Enumeration]   UNITED STATES    
U.S. Federal        
Deferred Tax Assets        
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount $ (5,700)   5,700  
Balance Sheet Location [Axis]: us-gaap:OtherLiabilities        
Deferred Tax Liabilities        
Non-current deferred tax liabilities (1) [3]   $ (149) $ (131)  
Changes in the amount of unrecognized tax benefits: [Roll Forward]        
Ending balance of unrecognized tax benefits   $ 2,600    
FDDEI Effective Tax Rate (renamed from FDII)        
Effective Income Tax Rate Reconciliation, Amount [Abstract]        
Effective Income Tax Rate Reconciliation, FDDEI, Percent   13.00%    
Internal Revenue Service (IRS) [Member]        
Components of Deferred Tax Assets [Abstract]        
Operating Loss Carryforwards, Not Subject to Expiration   $ 65    
Operating Loss Carryforwards, Subject to Expiration   70    
Operating Loss Carryforwards   135    
Unused Income Tax Credits   485    
Foreign Tax Authority [Member]        
Effective Income Tax Rate Reconciliation, Amount [Abstract]        
Effective Income Tax Rate Reconciliation, Tax Credit, Foreign, Amount   $ (752)    
Effective Income Tax Rate Reconciliation, Tax Credit, Percent   (8.00%)    
Deferred Tax Assets        
Valuation allowance   $ (92)    
Components of Deferred Tax Assets [Abstract]        
Operating Loss Carryforwards, Not Subject to Expiration   1,000    
Unused Income Tax Credits   106    
Income Tax Jurisdiction, Domestic State and Local [Member]        
Components of Deferred Tax Assets [Abstract]        
Operating Loss Carryforwards, Subject to Expiration   749    
Unused Income Tax Credits   2,300    
Tax credit, Valuation allowance   2,300    
Operating losses, Valuation allowance   43    
State Administration of Taxation, China        
Effective Income Tax Rate Reconciliation, Amount [Abstract]        
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Amount [4]   $ 230    
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Percent [4]   2.00%    
Inland Revenue, Singapore (IRAS)        
Effective Income Tax Rate Reconciliation, Amount [Abstract]        
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Amount [4]   $ (195)    
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Percent [4]   (2.00%)    
KOREA, REPUBLIC OF        
Effective Income Tax Rate Reconciliation, Amount [Abstract]        
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Amount [4]   $ 173    
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Percent [4]   2.00%    
Income Tax Jurisdiction, Foreign, Other        
Effective Income Tax Rate Reconciliation, Amount [Abstract]        
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Amount   $ 167    
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Percent   2.00%    
[1] The foreign component of the income tax provision included foreign withholding taxes on royalty revenues included in U.S. earnings.
[2] Percentages may not sum due to rounding.
[3] Non-current deferred tax liabilities were included in other liabilities in the consolidated balance sheets.
[4] Foreign tax effects in China and South Korea primarily relate to withholding tax and in Singapore primarily relate to non-resident source investment income
v3.26.3
Capital Stock Stock Repurchase Program (Details) - USD ($)
$ in Billions
Sep. 27, 2026
Mar. 17, 2026
Nov. 06, 2024
$15B stock repurchase program announced November 6, 2024      
Stock Repurchase Program      
Authorized Amount     $ 15.0
$20B stock repurchase program announced March 17, 2026      
Stock Repurchase Program      
Authorized Amount   $ 20.0  
Remaining authorized amount $ 19.6    
v3.26.3
Capital Stock Shares Outstanding (Details) - shares
shares in Millions
 12 Months Ended
Sep. 27, 2026
Sep. 28, 2025
Shares Outstanding [Abstract]    
Common Stock, Shares, Outstanding, Beginning Balance 1,074  
Issued 46  
Repurchased (48)  
Common Stock, Shares, Outstanding, Ending Balance 1,072  
Common Stock, Shares, Issued 1,072 1,074
v3.26.3
Capital Stock Warrant Shares (Details)
$ / shares in Units, shares in Millions, $ in Billions
 12 Months Ended
Sep. 27, 2026
USD ($)
$ / shares
shares
Income Statement [Abstract]  
Class of Warrant or Right, Number of Securities Called by Warrants or Rights 25
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares $ 161.26
Warrants and Rights Outstanding, Term 10 years
Class of Warrant or Rights, Grant Date Fair Value | $ / shares $ 71.57
Warrants and Rights Outstanding | $ $ 1.8
Warrant Shares, Fair Value Assumptions, Expected Volatility Rate 38.00%
Warrant Shares, Fair Value Assumptions, Expected Term 10 years
Warrant Shares, Fair Value Assumptions, Risk Free Interest Rate 4.70%
Warrant Shares, Fair Value Assumptions, Range of Dividends Used 2.20%
Class of warrant or rights, vesting condition | $ $ 60.0
Customer Warrants  
Income Statement [Abstract]  
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period 4
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Outstanding, Number 25
Share-based Compensation Arrangement by Share-based Payment Award  
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period 4
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Outstanding, Number 25
v3.26.3
Employee Benefit Plans Equity Compensation Plans (Details) - shares
shares in Millions
Mar. 17, 2026
Sep. 27, 2026
Equity Compensation Plans    
Share reserve approved 24  
Share-based Payment Arrangement [Member]    
Equity Compensation Plans    
Number of shares available for grant   64
v3.26.3
Employee Benefit Plans Restricted Stock Units (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 12 Months Ended
Sep. 27, 2026
Sep. 28, 2025
Sep. 29, 2024
Restricted Stock Units [Member]      
Share-based Compensation Arrangement by Share-based Payment Award      
Vesting period 3 years    
Summary of Restricted Stock Units [Roll Forward]      
RSUs outstanding at beginning of the period 28    
RSUs granted 23    
RSUs assumed in acquisition 1    
RSUs canceled/forfeited (3)    
RSUs vested (19)    
RSUs outstanding at end of the period 30 28  
RSUs outstanding at beginning of the period, weighted average grant date fair value $ 151.75    
RSUs granted, weighted average grant date fair value 176.02 $ 163.17 $ 134.31
RSUs assumed, weighted average grant date fair value 169.56    
RSUs cancelled/forfeited, weighted average grant date fair value 165.88    
RSUs vested, weighted average grant date fair value 152.52    
RSUs outstanding at end of the period, weighted average grant date fair value $ 169.02 $ 151.75  
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Pre-vesting Forfeiture Rate 6.00% 6.00% 6.00%
Unrecognized compensation expense related to non-vested awards $ 4,100    
Weighted-average period over which the total unrecognized compensation expense is expected to be recognized 1 year 10 months 24 days    
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value $ 3,300 $ 3,300 $ 4,000
Shares withheld to satisfy statutory tax withholding 7 7 6
Share-based Payment Arrangement, Option [Member]      
Summary of Restricted Stock Units [Roll Forward]      
Share-based Payment Arrangement, Exercise of Option, Tax Benefit $ 698 $ 683 $ 840
v3.26.3
Employee Benefit Plans Employee Stock Purchase Plan (Details) - Employee Stock Purchase Plans [Member] - USD ($)
shares in Millions, $ in Millions
 12 Months Ended
Sep. 27, 2026
Sep. 28, 2025
Sep. 29, 2024
Share-based Compensation Arrangement by Share-based Payment Award      
Percentage applied to fair market value of the Company's common stock to determine purchase price 85.00%    
Shares reserved for future issuances 10    
Cash received from the exercise of purchase rights $ 222 $ 402 $ 379
v3.26.3
Compensation Related Costs, Share Based Payments (Details) - USD ($)
$ in Millions
 12 Months Ended
Sep. 27, 2026
Sep. 28, 2025
Sep. 29, 2024
Share-based Payment Arrangement, Expensed and Capitalized, Amount      
Share-based compensation expense before income taxes $ 3,452 $ 2,783 $ 2,648
Related income tax benefit (441) (616) (662)
Share-based compensation expense, net of income taxes 3,011 2,167 1,986
Income Statement Location [Axis]: us-gaap:CostOfRevenue      
Share-based Payment Arrangement, Expensed and Capitalized, Amount      
Share-based compensation expense before income taxes 101 89 89
Income Statement Location [Axis]: us-gaap:ResearchAndDevelopmentExpense      
Share-based Payment Arrangement, Expensed and Capitalized, Amount      
Share-based compensation expense before income taxes 2,569 2,141 2,024
Income Statement Location [Axis]: us-gaap:SellingGeneralAndAdministrativeExpense      
Share-based Payment Arrangement, Expensed and Capitalized, Amount      
Share-based compensation expense before income taxes $ 782 $ 553 $ 535
v3.26.3
Debt Long-term Debt (Details) - USD ($)
$ in Millions
 12 Months Ended
Sep. 27, 2026
Sep. 28, 2025
Sep. 29, 2024
Long-term Debt [Abstract]      
Long-term debt, Principal amount $ 15,107 $ 15,107  
Unamortized discount including debt issuance costs (175) (201)  
Hedge accounting adjustments (319) (95)  
Debt, Long-term and Short-term, Combined Amount 14,613 14,811  
Long-term debt, Current Maturities 1,993 0  
Long-term Debt, Excluding Current Maturities 12,620 14,811  
Future principal payments, Fiscal 2027 2,000    
Future principal payments, Fiscal 2028 962    
Future principal payments, Fiscal 2029 0    
Future principal payments, Fiscal 2030 1,700    
Future principal payments, Fiscal 2031 0    
Future principal payments, after Fiscal 2031 10,445    
Long-term Debt, Fair value 13,300    
Interest paid related to commercial paper and long-term debt, net of cash received from the related interest rate swaps 642 614 $ 656
Fixed rate notes      
Long-term Debt [Abstract]      
Long-term debt, Principal amount $ 15,107 $ 15,107  
Debt Instrument Maturity Date Range Start 2027 2027  
Debt Instrument Maturity Date Range End 2053 2053  
Fixed rate notes | Minimum      
Long-term Debt [Abstract]      
Long-term debt, Effective Interest Rate 2.63% 2.39%  
Fixed rate notes | Maximum      
Long-term Debt [Abstract]      
Long-term debt, Effective Interest Rate 6.06% 5.12%  
v3.26.3
Interest Rate Swap (Details) - USD ($)
$ in Millions
Sep. 27, 2026
Sep. 28, 2025
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Derivative, Notional Amount $ 9,908 $ 7,940
Interest Rate Swap    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Derivative, Notional Amount $ 5,000 $ 3,600
v3.26.3
Debt Credit Facilities (Details) - USD ($)
$ in Millions
 12 Months Ended
Sep. 27, 2026
Sep. 28, 2025
Commercial Paper [Member]    
Line of Credit Facility [Abstract]    
Credit Facility, Maximum Borrowing Capacity $ 4,500  
Outstanding Commercial Paper Classified as Short-Term debt $ 499 $ 0
Short-Term Debt, Weighted Average Interest Rate, at Point in Time 3.84%  
Short Term Debt Instrument, Remaining Term 20 days  
Commercial Paper [Member] | Minimum    
Line of Credit Facility [Abstract]    
Debt Instrument, Term 1 day  
Commercial Paper [Member] | Maximum    
Line of Credit Facility [Abstract]    
Debt Instrument, Term 397 days  
Revolving Credit Facility [Member]    
Line of Credit Facility [Abstract]    
Credit Facility, Maximum Borrowing Capacity $ 4,000  
Line of Credit Facility, Fair Value of Amount Outstanding $ 0  
Line of Credit Facility, Covenant Compliance we were in compliance with the applicable covenants  
v3.26.3
Commitments and Contingencies Legal and Regulatory Proceedings (Details)
$ in Millions
Sep. 27, 2026
USD ($)
Loss Contingencies  
Loss Contingency, Estimate of Possible Loss $ 0
v3.26.3
Commitments and Contingencies Purchase Obligations (Details) - USD ($)
$ in Millions
Sep. 27, 2026
Sep. 28, 2025
Long-Term Purchase Commitment [Line Items]    
Advance payment related to multi-year capacity commitments $ 750 $ 1,900
Total - Purchase obligation 18,600  
Purchase Obligation, to be paid in the next twelve months 13,800  
Balance Sheet Location [Axis]: us-gaap:OtherAssetsCurrent    
Long-Term Purchase Commitment [Line Items]    
Advance payment related to multi-year capacity commitments 169 1,500
Balance Sheet Location [Axis]: us-gaap:OtherAssetsNoncurrent    
Long-Term Purchase Commitment [Line Items]    
Advance payment related to multi-year capacity commitments $ 581 $ 357
v3.26.3
Commitments and Contingencies Operating Leases (Details) - USD ($)
$ in Millions
 12 Months Ended
Sep. 27, 2026
Sep. 28, 2025
Sep. 29, 2024
Leases [Abstract]      
Operating Lease, Weighted Average Remaining Lease Term 8 years 8 years  
Operating Lease, Expense $ 204 $ 184 $ 184
Operating Lease, Right-of-Use Asset $ 776 $ 735  
Operating Lease, Right-of-Use Asset Other current assets Other current assets  
Operating Lease, Liability, Current $ 121 $ 102  
Operating Lease, Liability, Current Other current liabilities Other current liabilities  
Operating Lease, Liability, Noncurrent $ 759 $ 730  
Operating Lease, Liability, Noncurrent Other liabilities Other liabilities  
Year 1 - future lease payments $ 162    
Year 2 - future lease payments 157    
Year 3 - future lease payments 149    
Year 4 - future lease payments 138    
Year 5 - future lease payments 116    
Thereafter - future lease payments 395    
Total future lease payments 1,117    
Imputed interest (237)    
Total lease liability balance $ 880    
Lessee, Lease, Description      
Lessee, Operating Lease, Renewal Term 20 years    
Operating Lease, Liability, Noncurrent $ 759 $ 730  
Minimum      
Lessee, Lease, Description      
Lessee, Operating Lease, Term of Contract 1 year    
Maximum      
Lessee, Lease, Description      
Lessee, Operating Lease, Term of Contract 20 years    
v3.26.3
Segment Information (Details)
$ in Millions
 12 Months Ended
Sep. 27, 2026
USD ($)
numberOfBusinesses
Sep. 28, 2025
USD ($)
Sep. 29, 2024
USD ($)
Segment Reporting      
Revenues $ 43,120 $ 44,284 $ 38,962
Cost of revenues 20,222 19,738 17,060
Investment and other income, net 1,445 972 962
Costs and Expenses 34,462 31,929 28,891
Research and development expense (10,207) (9,042) (8,893)
Selling, general and administrative expense (3,701) (3,110) (2,759)
Other expense (332) (39) (179)
Interest expense (689) (664) (697)
Income from continuing operations before income taxes $ 9,414 12,663 10,336
Number of Reportable Segments | numberOfBusinesses 3    
Operating Segments      
Segment Reporting      
Revenues $ 42,764 43,949 38,786
Income from continuing operations before income taxes 14,917 15,893 13,658
Reconciling Items      
Segment Reporting      
Cost of revenues 400 270 229
Research and development expense (2,829) (2,357) (2,277)
Selling, general and administrative expense (1,166) (783) (781)
Other expense (332) (39) (179)
Interest expense (689) (664) (697)
Investment and other Income, net 640 779 855
Reconciling Items | Licensing Agreements      
Segment Reporting      
Revenues (120) 143 0
QCT      
Segment Reporting      
Revenues 37,208 38,367 33,196
QCT | Operating Segments      
Segment Reporting      
Revenue from Contract with Customer, Excluding Assessed Tax 37,208 38,367 33,196
Cost of revenues 19,460 19,302 16,648
Operating Expenses 7,647 7,395 7,021
Income from continuing operations before income taxes 10,101 11,670 9,527
QTL | Operating Segments      
Segment Reporting      
Revenue from Contract with Customer, Excluding Assessed Tax 5,556 5,582 5,572
Costs and Expenses [1] 1,534 1,539 1,545
Income from continuing operations before income taxes 4,022 4,043 4,027
QSI | Operating Segments      
Segment Reporting      
Revenue from Contract with Customer, Excluding Assessed Tax 0 0 18
Cost of revenues 0 0 7
Operating Expenses 11 13 12
Investment and other income, net 805 193 105
Income from continuing operations before income taxes 794 180 104
Nonreportable Segments | Reconciling Items      
Segment Reporting      
Revenues 476 192 176
Income from continuing operations before income taxes $ (607) $ (39) $ (14)
[1] Substantially all of QTL’s costs and expenses are comprised of operating expenses
v3.26.3
Segment Reporting - Long-lived Intangibles NBV (Details) - USD ($)
$ in Millions
Sep. 27, 2026
Sep. 28, 2025
Segment Reporting    
Net book value of long-lived tangible assets $ 6,104 $ 4,690
UNITED STATES    
Segment Reporting    
Net book value of long-lived tangible assets 3,000 2,000
Non-US    
Segment Reporting    
Net book value of long-lived tangible assets $ 3,800 $ 3,400
v3.26.3
Segment Reporting - Revenue by Country (Details) - USD ($)
$ in Millions
 12 Months Ended
Sep. 27, 2026
Sep. 28, 2025
Sep. 29, 2024
Segment Reporting      
Revenues $ 43,120 $ 44,284 $ 38,962
Revenue from Contract with Customer Benchmark | Geographic Concentration Risk      
Segment Reporting      
Percentage of total 100.00% 100.00% 100.00%
CHINA (including Hong Kong) | Revenue from Contract with Customer Benchmark | Geographic Concentration Risk      
Segment Reporting      
Revenues $ 18,079 $ 20,340 $ 17,826
Percentage of total 42.00% 46.00% 46.00%
UNITED STATES | Revenue from Contract with Customer Benchmark | Geographic Concentration Risk      
Segment Reporting      
Revenues $ 10,792 $ 10,515 $ 9,686
Percentage of total 25.00% 24.00% 25.00%
KOREA, REPUBLIC OF | Revenue from Contract with Customer Benchmark | Geographic Concentration Risk      
Segment Reporting      
Revenues $ 9,467 $ 9,542 $ 7,995
Percentage of total 22.00% 21.00% 20.00%
Other Foreign | Revenue from Contract with Customer Benchmark | Geographic Concentration Risk      
Segment Reporting      
Revenues $ 4,782 $ 3,887 $ 3,455
Percentage of total 11.00% 9.00% 9.00%
v3.26.3
Acquisitions (Details)
$ / shares in Units, shares in Millions, $ in Millions
 12 Months Ended
Jul. 28, 2026
USD ($)
shares
Dec. 18, 2025
USD ($)
shares
Sep. 27, 2026
USD ($)
numberOfBusinesses
$ / shares
shares
Sep. 28, 2025
USD ($)
Sep. 29, 2024
USD ($)
Acquisitions          
In-process research and development (IPR&D)     $ 280 $ 0  
Goodwill     $ 16,374 [1] $ 11,358 [1] $ 10,799
Weighted-average amortization period (years)     8 years 9 years  
QCT          
Acquisitions          
Goodwill     $ 11,287 [1] $ 10,623 [1] $ 10,065
Alphawave          
Acquisitions          
Payments to Acquire Businesses, Gross   $ 301      
Finite-Lived Intangibles   251      
In-process research and development (IPR&D)   120      
Goodwill   2,136      
Business Combination, Recognized Asset Acquired, Cash and Cash Equivalent   51      
Business Combination, Recognized Asset Acquired, Other Asset, Current and Noncurrent   288      
Business Combination, Recognized Asset Acquired, Asset   2,846      
Business Combination, Recognized Liability Assumed, Long-Term Debt, Current [2]   (278)      
Business Combination, Recognized Liability Assumed, Other Liability, Current and Noncurrent   (294)      
Business Combination, Recognized Liability Assumed, Liability   (572)      
Business Combination, Recognized Asset Acquired to Liability Assumed, Excess (Less), and Goodwill   2,274      
Business Combination, Goodwill, Expected Tax Deductible, Amount   $ 0      
Weighted-average amortization period (years)   5 years      
Business Combination, Consideration Transferred   $ 2,300      
Business Combination, Consideration Transferred, Equity Interest, Share Issued, Value   $ 1,800      
Business Combination, Consideration Transferred, Equity Interest, Share Issued, Number of Shares | shares   11      
Restricted Cash       $ 2,300  
Alphawave | Exchangeable Shares          
Acquisitions          
Business Combination, Consideration Transferred, Equity Interest, Share Issued, Value   $ 453      
Common Stock, No Par Value | $ / shares     $ 0    
Common Stock, Shares Authorized, Unlimited [Fixed List]     Unlimited    
Common Stock, Other Shares, Outstanding | shares     4    
Exchangeable Shares Issued, Fair Value   $ 746      
Modular          
Acquisitions          
Finite-Lived Intangibles $ 501        
Goodwill 2,140        
Business Combination, Recognized Asset Acquired, Cash and Cash Equivalent 77        
Business Combination, Recognized Asset Acquired, Other Asset, Current and Noncurrent 7        
Business Combination, Recognized Asset Acquired, Asset 2,725        
Business Combination, Recognized Liability Assumed, Other Liability, Current and Noncurrent (110)        
Business Combination, Recognized Liability Assumed, Liability (110)        
Business Combination, Recognized Asset Acquired to Liability Assumed, Excess (Less), and Goodwill 2,615        
Business Combination, Goodwill, Expected Tax Deductible, Amount $ 0        
Weighted-average amortization period (years) 4 years        
Business Combination, Consideration Transferred $ 2,600        
Business Combination, Consideration Transferred, Equity Interest, Share Issued, Number of Shares | shares 18        
Modular | Executive shares subject to service requirements          
Acquisitions          
Business Combination, Consideration Transferred, Equity Interest, Share Issued, Value $ 342        
Business Combination, Consideration Transferred, Equity Interest, Share Issued, Number of Shares | shares 4        
Modular | Executive shares not subject to vesting requirements          
Acquisitions          
Business Combination, Consideration Transferred, Equity Interest, Share Issued, Value $ 325        
2026 Other Business Acquisitions          
Acquisitions          
Number of Businesses Acquired | numberOfBusinesses     8    
Payments to Acquire Businesses, Gross     $ 1,100    
Finite-Lived Intangibles     313    
Goodwill     767    
2026 Other Business Acquisitions | QCT          
Acquisitions          
Goodwill     694    
2026 Other Business Acquisitions | Data Center Operating Segment          
Acquisitions          
Goodwill     $ 73    
[1] Cumulative goodwill impairments were $812 million at both September 27, 2026 and September 28, 2025.
[2] Alphawave's outstanding unsecured convertible bonds were settled in the second quarter of fiscal 2026.
v3.26.3
Fair Value Measurements Fair Value Hierarchy (Details) - Fair Value, Recurring
$ in Millions
Sep. 27, 2026
USD ($)
Assets  
Cash equivalents $ 1,765
Marketable securities 3,045
Derivative instruments 39
Deferred compensation plan assets 1,341
Total assets measured at fair value 6,190
Liabilities  
Derivative Instruments in Hedges, Liabilities, at Fair Value 408
Deferred compensation plan liabilities 1,337
Total liabilities measured at fair value 1,745
Level 1  
Assets  
Cash equivalents 1,250
Marketable securities 686
Derivative instruments 0
Deferred compensation plan assets 1,341
Total assets measured at fair value 3,277
Liabilities  
Derivative Instruments in Hedges, Liabilities, at Fair Value 0
Deferred compensation plan liabilities 1,337
Total liabilities measured at fair value 1,337
Level 2  
Assets  
Cash equivalents 515
Marketable securities 2,359
Derivative instruments 39
Deferred compensation plan assets 0
Total assets measured at fair value 2,913
Liabilities  
Derivative Instruments in Hedges, Liabilities, at Fair Value 408
Deferred compensation plan liabilities 0
Total liabilities measured at fair value 408
Corporate bonds and notes  
Assets  
Marketable securities 1,936
Corporate bonds and notes | Level 1  
Assets  
Marketable securities 0
Corporate bonds and notes | Level 2  
Assets  
Marketable securities 1,936
Mortgage- and asset-backed securities  
Assets  
Marketable securities 381
Mortgage- and asset-backed securities | Level 1  
Assets  
Marketable securities 0
Mortgage- and asset-backed securities | Level 2  
Assets  
Marketable securities 381
US Treasury securities and government-related securities  
Assets  
Marketable securities 49
US Treasury securities and government-related securities | Level 1  
Assets  
Marketable securities 7
US Treasury securities and government-related securities | Level 2  
Assets  
Marketable securities 42
Equity securities  
Assets  
Marketable securities 679 [1]
Equity securities | Level 1  
Assets  
Marketable securities 679 [1]
Equity securities | Level 2  
Assets  
Marketable securities $ 0 [1]
[1] Primarily consists of equity securities in certain QSI investees that have completed initial public offerings, which remain subject to short-term lock-up restrictions on the ability to sell.
v3.26.3
Marketable Securities (Details) - Available-for-Sale Securities
$ in Millions
Sep. 27, 2026
USD ($)
Marketable Securities [Line Items]  
Less than one year $ 648
One to five years 1,337
No single maturity date 381
Debt Securities, Available-for-sale $ 2,366
v3.26.3
Schedule II - Valuation and Qualifying Accounts (Details) - SEC Schedule, 12-09, Valuation Allowance, Deferred Tax Asset [Member] - USD ($)
$ in Millions
 12 Months Ended
Sep. 27, 2026
Sep. 28, 2025
Sep. 29, 2024
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]      
Valuation Allowances and Reserves, Beginning Balance $ 8,016 $ 2,061 $ 1,803
Valuation Allowances and Reserves, Charged (Credited) to Costs and Expenses (5,586) 5,915 258
Valuation Allowances and Reserves, Additions, Charge to Other Account 18 40 0
Valuation Allowances and Reserves, Ending Balance $ 2,448 $ 8,016 $ 2,061