Qualcomm Shares Rise Wednesday: What's Going On?

Key takeaways

• Qualcomm’s share price gains are driven by a landmark 5G infrastructure deal with SpaceX, expanding its reach into the U.S. network market.
• QCOM shares up 2.74% to $168.93
• SpaceX’s Starlink accounted for 36% of its Q3 revenue and 85% of operating profit
• Qualcomm’s fiscal Q4
  EPS

  Earnings per share — profit for one share of the company, in dollars.

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  forecast $2.16

What happened

Qualcomm shares rose 2.74% to $168.93 after SpaceX announced a multiyear deal to use Qualcomm’s Dragonwing cellular infrastructure for its Starlink Mobile base stations in the U.S., the company’s largest 5G initiative to date.

Why it matters

The partnership gives Qualcomm a foothold in the growing 5G infrastructure market and positions it alongside major carriers like Verizon, AT&T and T‑Mobile. It also signals SpaceX’s intent to compete in mobile services, potentially expanding Qualcomm’s revenue beyond its traditional modem business. The deal could…

Short-term and longer-term

Short-term. Over the next few days, watch for the Q4 earnings release on November 4th; a stronger-than‑expected

Longer-term. In the months ahead, the SpaceX deal could materially increase Qualcomm’s 5G infrastructure revenue, potentially shifting its business mix toward higher‑margin network equipment.