# Qualcomm Booked About $650 Million From Data Centers and Says It Could Sell More If It Had the Supply, as Phone Chip Sales Fell 26%

Times of AI Desk · 2026-11-05 · Infrastructure

[https://timesof.ai/2026/11/qualcomm-650m-data-center-quarter-5b-fiscal-2027-target](https://timesof.ai/2026/11/qualcomm-650m-data-center-quarter-5b-fiscal-2027-target)

> Qualcomm said on November 4 that it still expects $5 billion of data center revenue in fiscal 2027, and CEO Cristiano Amon told analysts it took in about $650 million from data centers in the September quarter. Handset chip sales fell 26% to $5.14 billion as memory costs hit phone demand, and a soft outlook sent the stock down 7% after hours.

Qualcomm wants investors to see a data center company growing inside a phone-chip company, and so far the evidence is a target and a comment on a call. On **November 4** Qualcomm reiterated that it expects **$5 billion of data center revenue in fiscal 2027**. CEO **Cristiano Amon** told analysts the company had **$650 million** of data center revenue in the September quarter, mostly from custom chip and connectivity work, CNBC reported. "We don't have a demand issue; it's a supply issue," Amon said. "If I had more supply, I would probably be doing better."

## The quarter

Qualcomm reported fiscal fourth-quarter non-GAAP revenue of **$10.44 billion**, down 7% from a year earlier, and non-GAAP earnings of **$2.17 per share**, against $2.16 expected, according to CNBC. **Handset chip sales fell 26% to $5.14 billion** even after a September price increase, as rising memory costs force phone makers to raise prices. **Automotive** revenue rose **89% to $1.99 billion**.

For the current quarter Qualcomm guided revenue of **$10.4 billion to $11.2 billion** and earnings of $2.15 to $2.35 a share, against analyst expectations of $2.27, CNBC said. The stock fell **7%** in extended trading.

## The data center pitch

Amon said Qualcomm recently signed a customer for **optical connectivity** and has engaged a global hyperscaler, CNBC reported. In its release, Qualcomm said it expects non-handset revenue to grow more than 60% in fiscal 2027 and highlighted a multi-generational product collaboration with **Amazon** on AI data centers. The Verge reported that Qualcomm is aiming for $15 billion of data center revenue by 2029 and expects data centers eventually to be about 30% of its business. The scale it is chasing is set by rivals such as AMD, whose [data center sales hit $8.55 billion last quarter](https://timesof.ai/2026/11/amd-q3-2026-data-center-revenue-up-97-percent-q4-17b-outlook).

## Limits

- The $650 million is a figure Amon gave on the call, as reported by CNBC; Qualcomm does not report data center revenue as its own segment.
- The Verge described the roughly $650 million as a forecast for the current quarter rather than past revenue; we follow CNBC's account, which matches the call quotes it published.
- The $5 billion and $15 billion figures are targets, and Amon says supply, not demand, is the constraint.

## Sources

- [Qualcomm via MarketScreener: Qualcomm Announces Fourth Quarter and Fiscal 2026 Results (November 4, 2026)](https://www.marketscreener.com/news/qualcomm-incorporated-fy-2026-4th-quarter-earnings-release-ce785fdfd18bfe23)
- [CNBC: Qualcomm stock drops 7% on weak earnings forecast as memory shortage weighs on smartphone sales (November 4, 2026)](https://www.cnbc.com/2026/11/04/qualcomm-qcom-earnings-report-q4-2026.html)
- [The Verge: Qualcomm earnings and its data center bet (November 4, 2026)](https://www.theverge.com/ai-artificial-intelligence/1026867/qualcomm-earnings-data-centers)