Qualcomm vs Broadcom
Mobile chip leader with global patent licensing business vs Chip and software company for data centers and networks. Which is the better buy for your portfolio in September 2026? Plain-English answer below.
Qualcomm designs the chips powering most of the world's premium smartphones while Broadcom supplies semiconductors and enterprise software into data centers, networking gear, and broadband infrastructure. Qualcomm vs Broadcom contrasts a mobile-centric chipmaker diversifying into automotive and IoT with a diversified semiconductor and software conglomerate running one of the highest EBITDA margins in tech. Readers find out how licensing revenue, customer concentration, M&A integration risk, and the AI-driven data center buildout shape each company's growth and capital return story differently.
Qualcomm designs the chips powering most of the world's premium smartphones while Broadcom supplies semiconductors and enterprise software into data centers, networking gear, and broadband infrastruct...
Why It’s Moving
Qualcomm rises on a major Amazon AI chip deal that expands its growth story beyond smartphones
- Qualcomm jumped after announcing a multi-year collaboration with Amazon Web Services to supply custom AI silicon for data centers, signaling a much bigger push beyond smartphones.
- Management said the Amazon deal could start generating revenue in the December quarter, giving investors a clearer path to near-term data-center growth.
- The company also highlighted a larger opportunity in AI infrastructure and adjacent products, reinforcing the view that Qualcomm’s growth story is widening across automotive, PCs, and cloud compute.
Broadcom heads into earnings with AI demand still driving the story
- Broadcom is set to report fiscal third-quarter results today, putting the stock in focus as investors look for confirmation that AI-related chip demand is still accelerating.
- The key debate is not just whether earnings beat estimates, but whether management raises the bar again on AI revenue, which would reinforce the case for continued growth into 2026.
- A separate financing deal tied to AI infrastructure has kept sentiment upbeat, as it underscores Broadcom’s expanding role in the buildout of custom chips and networking gear for large AI customers.
Qualcomm rises on a major Amazon AI chip deal that expands its growth story beyond smartphones
- Qualcomm jumped after announcing a multi-year collaboration with Amazon Web Services to supply custom AI silicon for data centers, signaling a much bigger push beyond smartphones.
- Management said the Amazon deal could start generating revenue in the December quarter, giving investors a clearer path to near-term data-center growth.
- The company also highlighted a larger opportunity in AI infrastructure and adjacent products, reinforcing the view that Qualcomm’s growth story is widening across automotive, PCs, and cloud compute.
Broadcom heads into earnings with AI demand still driving the story
- Broadcom is set to report fiscal third-quarter results today, putting the stock in focus as investors look for confirmation that AI-related chip demand is still accelerating.
- The key debate is not just whether earnings beat estimates, but whether management raises the bar again on AI revenue, which would reinforce the case for continued growth into 2026.
- A separate financing deal tied to AI infrastructure has kept sentiment upbeat, as it underscores Broadcom’s expanding role in the buildout of custom chips and networking gear for large AI customers.
Investment Analysis
Qualcomm
QCOM
Pros
- Qualcomm trades at a forward P/E ratio of 12.06, significantly lower than Broadcom's 31.26.
- Qualcomm maintains a strong global presence in mobile chipsets and patent licensing markets.
- Qualcomm's lower stock volatility of 7.40% offers reduced price fluctuation risk compared to peers.
Considerations
- Qualcomm's stock declined 30.9% over the past year while the industry rose 14.1%.
- Qualcomm faces significant US-China trade tensions and global wireless regulatory risks.
- Qualcomm's long-term earnings growth expectation stands at 9.1%, below Broadcom's 19.1%.
Broadcom
AVGO
Pros
- Broadcom anticipates 21% sales growth and 35.9% EPS growth in 2025 per consensus estimates.
- Broadcom's stock surged 62.5% over the past year, outperforming the industry.
- Broadcom benefits from diversified revenue across semiconductors and infrastructure software.
Considerations
- Broadcom's higher debt levels contribute to moderate financial risks.
- Broadcom exhibits elevated stock volatility of 15.84% compared to Qualcomm.
- Broadcom remains exposed to US-China trade tensions disrupting supply chains.
Qualcomm (QCOM) Next Earnings Date
Qualcomm’s next earnings release is currently expected on October 29, 2026 to November 4, 2026, with the company not yet having formally confirmed the exact date. It will cover fiscal fourth-quarter 2026 results, based on the usual reporting cycle following the July 2026 third-quarter report. The precise date may still shift until Qualcomm issues its official announcement.
Broadcom (AVGO) Next Earnings Date
Broadcom’s next earnings date is expected on December 10, 2026. It will cover fiscal Q4 2026. This timing is consistent with the company’s normal quarterly reporting pattern, following its September 2, 2026 Q3 release.
Qualcomm (QCOM) Next Earnings Date
Qualcomm’s next earnings release is currently expected on October 29, 2026 to November 4, 2026, with the company not yet having formally confirmed the exact date. It will cover fiscal fourth-quarter 2026 results, based on the usual reporting cycle following the July 2026 third-quarter report. The precise date may still shift until Qualcomm issues its official announcement.
Broadcom (AVGO) Next Earnings Date
Broadcom’s next earnings date is expected on December 10, 2026. It will cover fiscal Q4 2026. This timing is consistent with the company’s normal quarterly reporting pattern, following its September 2, 2026 Q3 release.
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