Qualcomm Stock Surges on Renewed Patent License Deal with Apple
Qualcomm's stock price rose by 2.20 percent on October 1, 2026, to EUR 165.54, following the announcement of a renewed global patent license agreement with Apple, effective April 1, 2027.
The deal marks an important milestone for Qualcomm's licensing business, which remains closely tied to Apple's device ecosystem despite the latter's efforts to reduce its reliance on Qualcomm modem chips.
Qualcomm reported revenue of USD 9.95 billion and GAAP diluted earnings per share of USD 1.87 for the third quarter of fiscal 2026, ended June 28, 2026. While handset revenue fell by 20 percent year over year to USD 5.09 billion, automotive revenue rose by 61 percent to USD 1.59 billion.
The company's diversification story is gaining traction as a result of its growth in the automotive sector, which offset the decline in handset revenue.