QUALCOMM (QCOM) 10-Q 31 Jul 24 2024 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares shares in Millions	9 Months Ended
	Jun. 23, 2024	Jul. 29, 2024
Cover [Abstract]
Entity Registrant Name	QUALCOMM INC/DE
Entity Central Index Key	0000804328
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false
Current Fiscal Year End Date	--09-29
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 23, 2024
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 Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		1,114

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) shares in Millions, $ in Millions	Jun. 23, 2024	Sep. 24, 2023
Current assets:
Cash and cash equivalents	$ 7,770	$ 8,450
Marketable securities	5,262	2,874
Accounts receivable, net	2,948	3,183
Inventories	6,020	6,422
Held for sale assets	0	341
Other current assets	1,332	1,194
Total current assets	23,332	22,464
Deferred tax assets	4,420	3,310
Property, plant and equipment, net	4,744	5,042
Goodwill	10,770	10,642
Other intangible assets, net	1,296	1,408
Held for sale assets	0	88
Other assets	8,179	8,086
Total assets	52,741	51,040
Current liabilities:
Trade accounts payable	2,586	1,912
Payroll and other benefits related liabilities	1,780	1,685
Unearned revenues	263	293
Short-term debt	1,364	914
Held for sale liabilities	0	333
Other current liabilities	3,754	4,491
Total current liabilities	9,747	9,628
Unearned revenues	108	99
Income taxes payable	526	1,080
Long-term debt	13,190	14,484
Held for sale liabilities	0	38
Other liabilities	4,500	4,130
Total liabilities	28,071	29,459
Commitments and contingencies (Note 5)
Stockholders’ equity:
Preferred stock, $0.0001 par value; 8 shares authorized; none outstanding	$ 0	$ 0
Preferred stock, par value	$ 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; 1,116 and 1,114 shares issued and outstanding, respectively	$ 0	$ 490
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	6,000	6,000
Common stock, shares, issued	1,116	1,114
Common stock, shares, outstanding	1,116	1,114
Retained earnings	$ 24,273	$ 20,733
Accumulated other comprehensive income	397	358
Total stockholders’ equity	24,670	21,581
Total liabilities and stockholders’ equity	$ 52,741	$ 51,040

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Jun. 23, 2024	Jun. 25, 2023	Jun. 23, 2024	Jun. 25, 2023
Revenues:
Equipment and services	$ 7,993	$ 7,108	$ 24,259	$ 22,737
Licensing	1,400	1,343	4,459	4,452
Total revenues	9,393	8,451	28,718	27,189
Costs and expenses:
Cost of revenues	4,174	3,792	12,593	11,989
Research and development	2,259	2,222	6,591	6,683
Selling, general and administrative	664	618	1,998	1,854
Other (Note 2)	75	(4)	47	285
Total costs and expenses	7,172	6,628	21,229	20,811
Operating income	2,221	1,823	7,489	6,378
Interest expense	(168)	(172)	(517)	(521)
Investment and other income, net	226	106	768	166
Income from continuing operations before income taxes	2,279	1,757	7,740	6,023
Income tax expense	(171)	(22)	(545)	(313)
Income from continuing operations	2,108	1,735	7,195	5,710
Discontinued operations, net of income taxes	21	68	27	32
Net income	$ 2,129	$ 1,803	$ 7,222	$ 5,742
Basic earnings per share, Continuing operations	$ 1.89	$ 1.56	$ 6.45	$ 5.11
Basic loss per share, Discontinued operations	0.02	0.06	0.02	0.03
Basic earnings per share	1.91	1.62	6.47	5.14
Diluted earnings per share, Continuing operations	1.86	1.54	6.37	5.07
Diluted loss per share, Discontinued operations	0.02	0.06	0.02	0.03
Diluted earnings per share	$ 1.88	$ 1.60	$ 6.39	$ 5.10
Shares used in per share calculations:
Basic	1,116	1,115	1,116	1,117
Diluted	1,134	1,124	1,130	1,126

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 23, 2024	Jun. 25, 2023	Jun. 23, 2024	Jun. 25, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 2,129	$ 1,803	$ 7,222	$ 5,742
Other comprehensive income, net of income taxes:
Foreign currency translation (losses) gains	(34)	(29)	(13)	205
Net unrealized gains on available-for-sale debt securities	2	7	40	43
Net unrealized (losses) gains on derivative instruments	(4)	(3)	0	131
Other gains	1	0	1	6
Other reclassifications included in net income	(6)	37	11	67
Total other comprehensive (loss) income	(41)	12	39	452
Comprehensive income	$ 2,088	$ 1,815	$ 7,261	$ 6,194

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Jun. 23, 2024	Jun. 25, 2023
Operating Activities:
Net income from continuing operations	$ 7,195	$ 5,710
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense	1,267	1,347
Income tax provision less than income tax payments	(2,538)	(836)
Share-based compensation expense	1,951	1,876
Net gains on marketable securities and other investments	(314)	(84)
Impairment losses on other investments	66	120
Other items, net	(63)	23
Changes in assets and liabilities:
Accounts receivable, net	221	1,807
Inventories	397	(192)
Other assets	120	604
Trade accounts payable	691	(2,052)
Payroll, benefits and other liabilities	654	(604)
Unearned revenues	(1)	(116)
Net cash used by operating activities from discontinued operations	(91)	(394)
Net cash provided by operating activities	9,555	7,209
Investing Activities:
Capital expenditures	(785)	(1,157)
Purchases of debt and equity marketable securities	(4,156)	(22)
Proceeds from sales and maturities of debt and equity marketable securities	1,895	1,119
Acquisitions and other investments, net of cash acquired	(234)	(107)
Proceeds from sales of property, plant and equipment	10	121
Proceeds from other investments	70	13
Other items, net	(36)	18
Net cash (used) provided by investing activities from discontinued operations	(2)	1,395
Net cash (used) provided by investing activities	(3,238)	1,380
Financing Activities:
Proceeds from short-term debt	799	4,668
Repayment of short-term debt	(799)	(5,166)
Proceeds from long-term debt	0	1,880
Repayment of long-term debt	(914)	(1,446)
Proceeds from issuance of common stock	196	233
Repurchases and retirements of common stock	(2,818)	(2,573)
Dividends paid	(2,739)	(2,569)
Payments of tax withholdings related to vesting of share-based awards	(797)	(499)
Other items, net	(17)	(16)
Net cash provided (used) by financing activities from discontinued operations	19	(58)
Net cash used by financing activities	(7,070)	(5,546)
Effect of exchange rate changes on cash and cash equivalents	(4)	35
Net (decrease) increase in total cash and cash equivalents	(757)	3,078
Total cash and cash equivalents at beginning of period (including $77 and $326 classified as held for sale at September 24, 2023 and September 25, 2022, respectively)	8,527	3,099
Total cash and cash equivalents at end of period (including $90 classified as held for sale at June 25, 2023)	7,770	6,177
Disposal Group, Including Discontinued Operation, Cash and Cash Equivalents, Beginning of Period	$ 77	326
Disposal Group, Including Discontinued Operation, Cash and Cash Equivalents, End of Period		$ 90

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Millions	Total	Common stock and paid-in capital	Retained earnings	Accumulated other comprehensive income
Balance at beginning of period at Sep. 25, 2022	$ 18,013	$ 195	$ 17,840	$ (22)
Common stock issued under employee benefit plans		233
Repurchases and retirements of common stock		(1,818)	(755)
Share-based compensation		1,966
Tax withholdings related to vesting of share-based payments		(499)
Common stock issued in acquisition		0
Net income			5,742
Dividends			(2,664)
Other comprehensive (loss) income				452
Balance at end of period at Jun. 25, 2023	$ 20,670	77	20,163	430
Dividends per share announced	$ 2.30
Balance at beginning of period at Mar. 26, 2023	$ 19,698	0	19,280	418
Common stock issued under employee benefit plans		1
Repurchases and retirements of common stock		(400)	0
Share-based compensation		643
Tax withholdings related to vesting of share-based payments		(167)
Common stock issued in acquisition		0
Net income			1,803
Dividends			(920)
Other comprehensive (loss) income				12
Balance at end of period at Jun. 25, 2023	$ 20,670	77	20,163	430
Dividends per share announced	$ 0.80
Balance at beginning of period at Sep. 24, 2023	$ 21,581	490	20,733	358
Common stock issued under employee benefit plans		196
Repurchases and retirements of common stock		(1,959)	(859)
Share-based compensation		2,047
Tax withholdings related to vesting of share-based payments		(797)
Common stock issued in acquisition		23
Net income			7,222
Dividends			(2,823)
Other comprehensive (loss) income				39
Balance at end of period at Jun. 23, 2024	$ 24,670	0	24,273	397
Dividends per share announced	$ 2.45
Balance at beginning of period at Mar. 24, 2024	$ 24,469	66	23,965	438
Common stock issued under employee benefit plans		1
Repurchases and retirements of common stock		(455)	(848)
Share-based compensation		670
Tax withholdings related to vesting of share-based payments		(282)
Common stock issued in acquisition		0
Net income			2,129
Dividends			(973)
Other comprehensive (loss) income				(41)
Balance at end of period at Jun. 23, 2024	$ 24,670	$ 0	$ 24,273	$ 397
Dividends per share announced	$ 0.85

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies Update	9 Months Ended
	Jun. 23, 2024
Basis of Presentation [Abstract]
Basis of Presentation and Significant Accounting Policies Update	Basis of Presentation and Significant Accounting Policies Update Financial Statement Preparation. These condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) for interim financial information and the instructions to Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements. In the opinion of management, the interim financial information includes all normal recurring adjustments necessary for a fair statement of the results for the interim periods. These condensed consolidated financial statements are unaudited and should be read in conjunction with our Annual Report on Form 10-K for our fiscal year ended September 24, 2023. Operating results for interim periods are not necessarily indicative of operating results for an entire fiscal year. We operate and report using a 52-53 week fiscal year ending on the last Sunday in September. Each of the three and nine months ended June 23, 2024 and June 25, 2023 included 13 weeks and 39 weeks, respectively. Our fiscal year for 2024 will include 53 weeks, with a 14-week fiscal fourth quarter. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts and the disclosure of contingent amounts in our condensed consolidated financial statements and the accompanying notes. Actual results could differ from those estimates. Recent Accounting Pronouncements. Segment Reporting Disclosures: In November 2023, the Financial Accounting Standards Board (FASB) issued new requirements to disclose certain incremental segment information on an annual and interim basis, including (among other items) additional disclosure about significant segment expenses. We will adopt the new requirements for our annual periods starting in fiscal 2025 (and interim periods thereafter) on a retrospective basis. 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 will adopt the new requirements starting in fiscal 2026 on a retrospective basis.

Composition of Certain Financia

Composition of Certain Financial Statement Items	9 Months Ended
	Jun. 23, 2024
Condensed Financial Information Disclosure [Abstract]
Composition of Certain Financial Statement Items	Composition of Certain Financial Statement Items Inventories (in millions) June 23, September 24, Raw materials $ 264 $ 176 Work-in-process 3,316 4,096 Finished goods 2,440 2,150 $ 6,020 $ 6,422 Other Current Liabilities (in millions) June 23, September 24, Customer incentives and other customer-related liabilities $ 2,241 $ 1,821 Income taxes payable 701 1,717 Other 812 953 $ 3,754 $ 4,491 Debt. In May 2024, we repaid $914 million of fixed-rate notes that matured in May 2024. At June 23, 2024, the aggregate fair value of our outstanding fixed-rate notes, based on Level 2 inputs, was approximately $13.8 billion. Revenues. We disaggregate our revenues by segment (Note 6), by products and services (as presented on our condensed consolidated statement of operations), and for our QCT (Qualcomm CDMA Technologies) 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 (Qualcomm Technology Licensing) 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): Three Months Ended Nine Months Ended June 23, June 25, June 23, June 25, Handsets (1) $ 5,899 $ 5,255 $ 18,766 $ 17,114 Automotive (2) 811 434 2,012 1,337 IoT (internet of things) (3) 1,359 1,485 3,740 4,557 Total QCT revenues $ 8,069 $ 7,174 $ 24,518 $ 23,008 (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 advanced driver assistance systems (ADAS) and automated driving (AD). (3) Primarily includes products sold for use in the following industries and applications: consumer (including computing, voice and music and extended reality (XR)), edge networking (including mobile broadband and wireless access points) and industrial (including handhelds, retail, tracking and logistics and utilities). Revenues recognized from performance obligations satisfied (or partially satisfied) in previous periods generally include certain QCT sales-based royalty revenues related to system software, certain amounts related to QCT customer incentives and QTL royalty revenues recognized related to devices sold in prior periods (including 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): Three Months Ended Nine Months Ended June 23, June 25, June 23, June 25, Revenues recognized from previously satisfied performance obligations $ 163 $ 216 $ 364 $ 521 Unearned revenues (which are considered contract liabilities) consist primarily of certain customer contracts for which QCT received fees upfront. In the nine months ended June 23, 2024 and June 25, 2023, we recognized revenues of $271 million and $302 million, respectively, that were recorded as unearned revenues at September 24, 2023 and September 25, 2022, respectively. Remaining performance obligations, which are primarily included in unearned revenues (as presented on our condensed consolidated balance sheet), 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. 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 interim 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: Three Months Ended Nine Months Ended June 23, June 25, June 23, June 25, Customer/licensee (x) 18 % 24 % 20 % 21 % Customer/licensee (y) 17 23 20 28 Customer/licensee (z) 11 * 13 * *Less than 10% Other Income, Costs and Expenses. Other expenses in the three months and nine months ended June 23, 2024 primarily consisted of a $75 million charge related to the proposed settlement of the securities class action lawsuit (Note 5). Other expenses in the nine months ended June 25, 2023 included certain restructuring amounts (substantially all of which related to accrued severance costs) from cost reduction actions initiated in fiscal 2023. Investment and Other Income (Expense), Net (in millions) Three Months Ended Nine Months Ended June 23, June 25, June 23, June 25, Interest and dividend income $ 182 $ 79 $ 490 $ 193 Net gains (losses) on marketable securities 8 (23) 16 (3) Net gains on other investments 10 17 170 17 Net gains on deferred compensation plan assets 26 48 153 95 Impairment losses on other investments (5) (19) (66) (120) Other 5 4 5 (16) $ 226 $ 106 $ 768 $ 166 Discontinued Operations. On June 1, 2023, SSW Partners completed the sale of Veoneer’s Active Safety business to Magna International Inc. for net cash proceeds of $1.5 billion. On March 1, 2024, SSW Partners completed the sale of Veoneer’s Restraint Control Systems (RCS) business (collectively with the Active Safety business, the Non-Arriver businesses) to American Industrial Partners Capital Fund VII. Through the date of disposition by SSW Partners, the assets and liabilities of the Non-Arriver businesses have been presented as held for sale on our condensed consolidated balance sheets, and the operating results (including the gain or loss on sale, the amounts of which were not material) have been presented as discontinued operations. Also, the cash flows provided (used) by the Non-Arriver businesses are reflected separately as discontinued operations, with the cash proceeds from the sale of the Active Safety and RCS businesses presented as investing activities.

Income Taxes

Income Taxes	9 Months Ended
	Jun. 23, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the third quarter of fiscal 2024, we estimated our annual effective income tax rate to be 7% for fiscal 2024, which is lower than the U.S. federal statutory rate, primarily due to (i) a significant portion of our income qualifying for preferential treatment as foreign-derived intangible income (FDII) at a 13% effective tax rate, which includes certain additional benefits from the requirement to capitalize research and development expenditures for federal income tax purposes, (ii) a benefit from our federal research and development tax credit and (iii) excess tax benefits associated with share-based awards. Our effective tax rate of 8% for the third quarter of fiscal 2024 was higher than our estimated annual effective tax rate of 7%, primarily due to net discrete tax benefits realized in the first quarter of fiscal 2024. Our effective tax rate of 1% for the third quarter of fiscal 2023 included benefits from fiscal 2021 and 2022 FDII deductions related to a change in sourcing of research and development expenditures in the third quarter of fiscal 2023.

Capital Stock

Capital Stock	9 Months Ended
	Jun. 23, 2024
Equity, Attributable to Parent [Abstract]
Capital Stock	Capital Stock Stock Repurchase Program. On October 12, 2021, we announced a $10.0 billion stock repurchase program. The stock repurchase program has no expiration date. At June 23, 2024, $2.3 billion remained authorized for repurchase under our stock repurchase program. Shares Outstanding. Shares of common stock outstanding at June 23, 2024 were as follows (in millions): Balance at September 24, 2023 1,114 Issued 20 Repurchased (18) Balance at June 23, 2024 1,116 Dividends. On July 17, 2024, we announced a cash dividend of $0.85 per share on our common stock, payable on September 26, 2024 to stockholders of record as of the close of business on September 5, 2024. Earnings Per Common 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, comprised of shares issuable under our share-based compensation plans, during the reporting period, using the treasury stock method. The following table provides information about the diluted earnings per share calculation (in millions): Three Months Ended Nine Months Ended June 23, June 25, June 23, June 25, Dilutive common share equivalents included in diluted shares 18 9 14 9 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 — 8 5 6

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Jun. 23, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal and Regulatory Proceedings. Consolidated Securities Class Action Lawsuit: On January 23, 2017 and January 26, 2017, securities class action complaints were filed by purported stockholders of us in the United States District Court for the Southern District of California against us and certain of our then current and former officers and directors. The complaints alleged, among other things, that we violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, as amended, and Rule 10b-5 thereunder, by making false and misleading statements and omissions of material fact in connection with certain allegations that we are or were engaged in anticompetitive conduct. The complaints sought unspecified damages, interest, fees and costs. The court consolidated the two actions, and on July 3, 2017, the plaintiffs filed a consolidated amended complaint asserting the same basic theories of liability and requesting the same basic relief. On May 23, 2022, the plaintiffs filed a motion for class certification, and on March 20, 2023, the court issued an order granting in part and denying in part the plaintiffs’ motion for class certification. The order denied class certification on the basis of alleged misrepresentations relating to our chip-level licensing practices, but certified a class on the basis of alleged misrepresentations relating to the separate operations of QCT and QTL. We have reached a proposed settlement with the plaintiffs to resolve this litigation, and on June 18, 2024, we and the plaintiffs, along with the individual defendants, filed a joint Stipulation and Agreement of Settlement with the court. The settlement has been preliminarily approved by the court and is subject to final approval following notice to the class, with a final settlement hearing scheduled for September 27, 2024. If the court approves the settlement, the claims of all class members who did not elect to opt out of the class will be extinguished, and we will pay $75 million to be distributed to the class. As a result, in the third quarter of fiscal 2024, we recorded a charge of $75 million to other expenses for the proposed settlement amount. Consumer Class Action Lawsuits: Beginning in January 2017, a number of consumer class action complaints were filed against us in the United States District Courts for the Southern and Northern Districts of California, each on behalf of a putative class of purchasers of cellular phones and other cellular devices. The cases filed in the Southern District of California were subsequently transferred to the Northern District of California. On July 11, 2017, the plaintiffs filed a consolidated amended complaint alleging that we violated California and federal antitrust and unfair competition laws by, among other things, refusing to license standard-essential patents to our competitors, conditioning the supply of certain of our baseband chipsets on the purchaser first agreeing to license our entire patent portfolio, entering into exclusive deals with companies, including Apple Inc., and charging unreasonably high royalties that do not comply with our commitments to standard setting organizations. The complaint sought unspecified damages and disgorgement and/or restitution, as well as an order that we be enjoined from further unlawful conduct. On September 27, 2018, the court certified the class. We appealed the court’s class certification order to the United States Court of Appeals for the Ninth Circuit (Ninth Circuit). On September 29, 2021, the Ninth Circuit vacated the class certification order, ruling that the district court had failed to correctly assess the propriety of applying California law to a nationwide class, and remanded the case to the district court. On June 10, 2022, the plaintiffs filed an amended complaint, limiting the proposed class to California residents rather than a nationwide class. We filed a motion to dismiss the amended complaint, and on January 6, 2023, the court issued an order granting in part and denying in part our motion to dismiss. We subsequently filed a motion for summary judgment on the plaintiffs’ remaining claims. The court granted our motion in its entirety and, on October 5, 2023, entered final judgment in Qualcomm’s favor. On November 2, 2023, the plaintiffs filed a notice of appeal to the Ninth Circuit. A hearing on the plaintiffs’ appeal is scheduled for October 15, 2024. We intend to continue to vigorously defend ourselves in this matter. Beginning in November 2017, several other consumer class action complaints were filed against us in Canada (in the Supreme Court of British Columbia and the Quebec Superior Court), Israel (in the Haifa District Court) and the United Kingdom (in the Competition Appeal Tribunal), each on behalf of a putative class of purchasers of cellular phones and other cellular devices, alleging violations of certain of those countries’ competition and consumer protection laws and seeking damages. The claims in these complaints are similar to those in the U.S. consumer class action complaints described above. These matters are at various stages of litigation, and we intend to continue to vigorously defend ourselves. ParkerVision, Inc. v. QUALCOMM Incorporated: On May 1, 2014, 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. On August 21, 2014, ParkerVision amended the complaint, alleging that we infringed 11 ParkerVision patents and sought damages and injunctive and other relief. 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 court entered judgment in our favor on all claims and closed the case. On April 20, 2022, ParkerVision filed a notice of appeal to the United States Court of Appeals for the Federal Circuit (Federal Circuit), and on November 6, 2023, the court held a hearing on the appeal. On July 16, 2024, the Federal Circuit dismissed ParkerVision’s appeal due to a procedural issue, subject to reinstatement following resolution of that issue by 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. (Arm) filed a complaint against us in the United States District Court for the District of Delaware. Our subsidiaries Qualcomm Technologies, Inc. and NuVia, Inc. (Nuvia) are also named in the complaint. 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. The complaint seeks specific performance, including that we cease all use of and destroy any technology that was developed under the Nuvia ALA, including processor core technology. Arm also contends that we violated the Lanham Act through trademark infringement and false designation of origin through unauthorized use of Arm’s trademarks and seeks associated injunctive and declaratory relief. Arm further seeks exemplary or punitive damages, costs, expenses and reasonable attorney’s fees, and equitable relief addressing any infringement occurring after entry of judgment. 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 (together with the Nuvia ALA, the Arm-Nuvia Agreements) and that, following the acquisition of Nuvia, our architected cores (including all further developments, iterations or instantiations of the technology we acquired from Nuvia), server System-on-Chip (SoC) and compute SoC are fully licensed under our existing Architecture License Agreement with Arm (the Qualcomm ALA) and Technology License Agreement with Arm (together with the Qualcomm ALA, the Arm-Qualcomm Agreements). We further seek an order enjoining Arm from making any claim that our products are not licensed under the Arm-Qualcomm Agreements, are not Arm-compliant or that we are prohibited from using Arm’s marks in the marketing of any such products. On October 26, 2022, we filed an Amended Counterclaim seeking additional declaratory relief that certain statements Arm is making in the marketplace concerning our rights under the Arm-Qualcomm Agreements are false, and that Arm has no right to prevent us from shipping our products, which are validly licensed. On March 22, 2024, we filed a Second Amended Counterclaim asserting that Arm has breached the Arm-Nuvia Agreements by continuing to use Nuvia technology and by failing to return or destroy Nuvia confidential information after the Arm-Nuvia Agreements were terminated. The Second Amended Counterclaim seeks damages related to the asserted breaches. Trial is scheduled to begin on December 16, 2024. On July 10, 2024, Arm filed a motion for partial summary judgment that the Nuvia ALA was properly terminated, that the Nuvia ALA was breached, and that Arm did not breach the Arm-Nuvia Agreements. We also filed a motion for summary judgment on Arm’s breach of contract claims, that Qualcomm’s architected cores are licensed under the Qualcomm ALA, and that Qualcomm has not infringed Arm’s trademarks. 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 Ltd.) against Arm 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. Arm has moved to dismiss this complaint. 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. Other than with respect to the Consolidated Securities Class Action Lawsuit proposed settlement, we have not recorded any accrual at June 23, 2024 for contingent losses associated with the pending 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 (for example, our 2010 European Commission matter relating to the Icera complaint, and other matters arising in the ordinary course of our business, including those relating to employment matters or the initiation or defense of proceedings relating to intellectual property rights) 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.

Segment Information

Segment Information	9 Months Ended
	Jun. 23, 2024
Segment Reporting [Abstract]
Segment Information	Segment Information We are organized on the basis of products and services and have three reportable segments. We conduct business primarily through our QCT semiconductor business and our QTL licensing business. QCT develops and supplies integrated circuits and system software based on 3G/4G/5G and other technologies, including RFFE (radio frequency front-end), for use in mobile devices; automotive systems for connectivity, digital cockpit and ADAS/AD; and IoT including consumer electronic devices, industrial devices, and edge networking 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 QGOV (Qualcomm Government Technologies) and our cloud computing processing initiative. The table below presents revenues and earnings (loss) before income taxes (EBT) for reportable segments (in millions): Three Months Ended Nine Months Ended June 23, June 25, June 23, June 25, Revenues QCT $ 8,069 $ 7,174 $ 24,518 $ 23,008 QTL 1,273 1,230 4,051 4,044 QSI 2 9 18 22 Reconciling items 49 38 131 115 Total $ 9,393 $ 8,451 $ 28,718 $ 27,189 EBT QCT $ 2,181 $ 1,744 $ 7,062 $ 6,035 QTL 894 811 2,907 2,799 QSI 14 (21) 121 (83) Reconciling items (810) (777) (2,350) (2,728) Total $ 2,279 $ 1,757 $ 7,740 $ 6,023 Reconciling items for revenues and EBT in the previous table were as follows (in millions): Three Months Ended Nine Months Ended June 23, June 25, June 23, June 25, Revenues Nonreportable segments $ 49 $ 38 $ 131 $ 115 EBT Unallocated cost of revenues $ (54) $ (42) $ (168) $ (155) Unallocated research and development expenses (549) (520) (1,664) (1,537) Unallocated selling, general and administrative expenses (175) (172) (588) (464) Unallocated other (expenses) income (Note 2) (75) 4 (47) (285) Unallocated interest expense (168) (172) (518) (520) Unallocated investment and other income, net 213 130 648 252 Nonreportable segments (2) (5) (13) (19) $ (810) $ (777) $ (2,350) $ (2,728)

Fair Value Measurements and Mar

Fair Value Measurements and Marketable Securities	9 Months Ended
	Jun. 23, 2024
Fair Value Measurements [Abstract]
Fair Value Measurements and Marketable Securities	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 June 23, 2024 (in millions): Level 1 Level 2 Level 3 Total Assets Cash equivalents $ 4,400 $ 1,926 $ — $ 6,326 Marketable securities: Corporate bonds and notes — 4,292 — 4,292 U.S. Treasury securities and government-related securities 324 34 — 358 Mortgage- and asset-backed securities — 475 — 475 Equity securities 137 — — 137 Total marketable securities 461 4,801 — 5,262 Derivative instruments — 23 — 23 Other investments 917 — 39 956 Total assets measured at fair value $ 5,778 $ 6,750 $ 39 $ 12,567 Liabilities Derivative instruments $ — $ 237 $ — $ 237 Other liabilities 914 — — 914 Total liabilities measured at fair value $ 914 $ 237 $ — $ 1,151 Marketable Securities. At June 23, 2024 and September 24, 2023, our marketable securities were all classified as current and were primarily comprised of available-for-sale debt securities (substantially all of which were corporate bonds and notes). The contractual maturities of available-for-sale debt securities were as follows (in millions): June 23, Years to Maturity Less than one year $ 1,726 One to five years 2,913 Five to ten years 11 No single maturity date 475 Total $ 5,125 Debt securities with no single maturity date included mortgage- and asset-backed securities.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 23, 2024	Jun. 25, 2023	Jun. 23, 2024	Jun. 25, 2023
Pay vs Performance Disclosure
Net income	$ 2,129	$ 1,803	$ 7,222	$ 5,742

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 23, 2024 shares
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	On May 21, 2024, Cristiano Amon, our President and Chief Executive Officer, acting as trustee on behalf of his family trust, adopted a Rule 10b5-1 trading arrangement (as defined in Item 408 of Regulation S-K) providing for the sale of up to 75,000 shares of our common stock. The plan is scheduled to terminate on September 30, 2025. On June 6, 2024, Ann Chaplin, our General Counsel and Corporate Secretary, adopted a Rule 10b5-1 trading arrangement providing for the sale of (i) 50% of the net shares issued to Ms. Chaplin upon the vesting of restricted stock unit awards representing 25,216 shares of our common stock and (ii) 60% of the net shares issued to Ms. Chaplin upon the vesting of performance stock unit awards representing 45,074 shares of our common stock (assuming that such shares underlying performance stock units vest at target amounts), including, in each case, accrued dividend-equivalent shares and excluding any shares withheld to satisfy tax withholding obligations in connection with the settlement of such awards. The plan is scheduled to terminate on December 31, 2025. On June 6, 2024, Neil Martin, our Senior Vice President, Finance and Chief Accounting Officer, adopted a Rule 10b5-1 trading arrangement providing for the sale of the net shares issued to Mr. Martin upon the vesting of restricted stock unit awards representing 9,030 shares of our common stock, including accrued dividend-equivalent shares and excluding any shares withheld to satisfy tax withholding obligations in connection with the settlement of such awards. The plan is scheduled to terminate on June 5, 2026.
Cristiano Amon [Member]
Trading Arrangements, by Individual
Name	Cristiano Amon
Title	President and Chief Executive Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	May 21, 2024
Arrangement Duration	497 days
Aggregate Available	75,000
Ann Chaplin [Member]
Trading Arrangements, by Individual
Name	Ann Chaplin
Title	General Counsel and Corporate Secretary
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	June 6, 2024
Arrangement Duration	573 days
Neil Martin [Member]
Trading Arrangements, by Individual
Name	Neil Martin
Title	Senior Vice President, Finance and Chief Accounting Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	June 6, 2024
Arrangement Duration	729 days
Aggregate Available	9,030
Tranche One [Domain] | Ann Chaplin [Member]
Trading Arrangements, by Individual
Aggregate Available	25,216
Tranche Two [Domain] | Ann Chaplin [Member]
Trading Arrangements, by Individual
Aggregate Available	45,074

Basis of Presentation and Sig_2

Basis of Presentation and Significant Accounting Policies Update (Policies)	9 Months Ended
	Jun. 23, 2024
Basis of Presentation [Abstract]
Fiscal Period, Policy	We operate and report using a 52-53 week fiscal year ending on the last Sunday in September. Each of the three and nine months ended June 23, 2024 and June 25, 2023 included 13 weeks and 39 weeks, respectively. Our fiscal year for 2024 will include 53 weeks, with a 14-week fiscal fourth quarter.
Use of Estimates, Policy	The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts and the disclosure of contingent amounts in our condensed consolidated financial statements and the accompanying notes. Actual results could differ from those estimates.
Recent Accounting Pronouncements, Policy	Segment Reporting Disclosures: In November 2023, the Financial Accounting Standards Board (FASB) issued new requirements to disclose certain incremental segment information on an annual and interim basis, including (among other items) additional disclosure about significant segment expenses. We will adopt the new requirements for our annual periods starting in fiscal 2025 (and interim periods thereafter) on a retrospective basis. 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 will adopt the new requirements starting in fiscal 2026 on a retrospective basis.
Revenue Recognition, Policy	We disaggregate our revenues by segment (Note 6), by products and services (as presented on our condensed consolidated statement of operations), and for our QCT (Qualcomm CDMA Technologies) 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
Earnings Per Common Share, Policy	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, comprised of shares issuable under our share-based compensation plans, during the reporting period, using the treasury stock method.
Segment Reporting, Policy	We are organized on the basis of products and services and have three reportable segments.

Composition of Certain Financ_2

Composition of Certain Financial Statement Items (Tables)	9 Months Ended
	Jun. 23, 2024
Condensed Financial Information Disclosure [Abstract]
Inventories	Inventories (in millions) June 23, September 24, Raw materials $ 264 $ 176 Work-in-process 3,316 4,096 Finished goods 2,440 2,150 $ 6,020 $ 6,422
Other Current Liabilities	Other Current Liabilities (in millions) June 23, September 24, Customer incentives and other customer-related liabilities $ 2,241 $ 1,821 Income taxes payable 701 1,717 Other 812 953 $ 3,754 $ 4,491
QCT Revenues Disaggregated	QCT revenue streams were as follows (in millions): Three Months Ended Nine Months Ended June 23, June 25, June 23, June 25, Handsets (1) $ 5,899 $ 5,255 $ 18,766 $ 17,114 Automotive (2) 811 434 2,012 1,337 IoT (internet of things) (3) 1,359 1,485 3,740 4,557 Total QCT revenues $ 8,069 $ 7,174 $ 24,518 $ 23,008 (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 advanced driver assistance systems (ADAS) and automated driving (AD). (3) Primarily includes products sold for use in the following industries and applications: consumer (including computing, voice and music and extended reality (XR)), edge networking (including mobile broadband and wireless access points) and industrial (including handhelds, retail, tracking and logistics and utilities).
Revenue recognized from performance obligations satisfied in previous periods	Revenues recognized from performance obligations satisfied (or partially satisfied) in previous periods generally include certain QCT sales-based royalty revenues related to system software, certain amounts related to QCT customer incentives and QTL royalty revenues recognized related to devices sold in prior periods (including 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): Three Months Ended Nine Months Ended June 23, June 25, June 23, June 25, Revenues recognized from previously satisfied performance obligations $ 163 $ 216 $ 364 $ 521
Customer Concentrations - Revenues	Revenues from each customer/licensee that were 10% or greater of total revenues were as follows: Three Months Ended Nine Months Ended June 23, June 25, June 23, June 25, Customer/licensee (x) 18 % 24 % 20 % 21 % Customer/licensee (y) 17 23 20 28 Customer/licensee (z) 11 * 13 * *Less than 10%
Investment and Other Income (Expense), Net	Investment and Other Income (Expense), Net (in millions) Three Months Ended Nine Months Ended June 23, June 25, June 23, June 25, Interest and dividend income $ 182 $ 79 $ 490 $ 193 Net gains (losses) on marketable securities 8 (23) 16 (3) Net gains on other investments 10 17 170 17 Net gains on deferred compensation plan assets 26 48 153 95 Impairment losses on other investments (5) (19) (66) (120) Other 5 4 5 (16) $ 226 $ 106 $ 768 $ 166

Capital Stock Earnings per Comm

Capital Stock Earnings per Common Share (Tables)	9 Months Ended
	Jun. 23, 2024
Earnings Per Share [Abstract]
Schedule of Capital Units	Shares Outstanding. Shares of common stock outstanding at June 23, 2024 were as follows (in millions): Balance at September 24, 2023 1,114 Issued 20 Repurchased (18) Balance at June 23, 2024 1,116
Schedule of Earnings Per Share, Basic and Diluted	The following table provides information about the diluted earnings per share calculation (in millions): Three Months Ended Nine Months Ended June 23, June 25, June 23, June 25, Dilutive common share equivalents included in diluted shares 18 9 14 9 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 — 8 5 6

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Jun. 23, 2024
Segment Reporting [Abstract]
Revenues and EBT for reportable segments	The table below presents revenues and earnings (loss) before income taxes (EBT) for reportable segments (in millions): Three Months Ended Nine Months Ended June 23, June 25, June 23, June 25, Revenues QCT $ 8,069 $ 7,174 $ 24,518 $ 23,008 QTL 1,273 1,230 4,051 4,044 QSI 2 9 18 22 Reconciling items 49 38 131 115 Total $ 9,393 $ 8,451 $ 28,718 $ 27,189 EBT QCT $ 2,181 $ 1,744 $ 7,062 $ 6,035 QTL 894 811 2,907 2,799 QSI 14 (21) 121 (83) Reconciling items (810) (777) (2,350) (2,728) Total $ 2,279 $ 1,757 $ 7,740 $ 6,023
Reconciling items for reportable segments - revenues	Reconciling items for revenues and EBT in the previous table were as follows (in millions): Three Months Ended Nine Months Ended June 23, June 25, June 23, June 25, Revenues Nonreportable segments $ 49 $ 38 $ 131 $ 115 EBT Unallocated cost of revenues $ (54) $ (42) $ (168) $ (155) Unallocated research and development expenses (549) (520) (1,664) (1,537) Unallocated selling, general and administrative expenses (175) (172) (588) (464) Unallocated other (expenses) income (Note 2) (75) 4 (47) (285) Unallocated interest expense (168) (172) (518) (520) Unallocated investment and other income, net 213 130 648 252 Nonreportable segments (2) (5) (13) (19) $ (810) $ (777) $ (2,350) $ (2,728)
Reconciling items for reportable segments - EBT	Reconciling items for revenues and EBT in the previous table were as follows (in millions): Three Months Ended Nine Months Ended June 23, June 25, June 23, June 25, Revenues Nonreportable segments $ 49 $ 38 $ 131 $ 115 EBT Unallocated cost of revenues $ (54) $ (42) $ (168) $ (155) Unallocated research and development expenses (549) (520) (1,664) (1,537) Unallocated selling, general and administrative expenses (175) (172) (588) (464) Unallocated other (expenses) income (Note 2) (75) 4 (47) (285) Unallocated interest expense (168) (172) (518) (520) Unallocated investment and other income, net 213 130 648 252 Nonreportable segments (2) (5) (13) (19) $ (810) $ (777) $ (2,350) $ (2,728)

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Jun. 23, 2024
Fair Value Measurements [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 June 23, 2024 (in millions): Level 1 Level 2 Level 3 Total Assets Cash equivalents $ 4,400 $ 1,926 $ — $ 6,326 Marketable securities: Corporate bonds and notes — 4,292 — 4,292 U.S. Treasury securities and government-related securities 324 34 — 358 Mortgage- and asset-backed securities — 475 — 475 Equity securities 137 — — 137 Total marketable securities 461 4,801 — 5,262 Derivative instruments — 23 — 23 Other investments 917 — 39 956 Total assets measured at fair value $ 5,778 $ 6,750 $ 39 $ 12,567 Liabilities Derivative instruments $ — $ 237 $ — $ 237 Other liabilities 914 — — 914 Total liabilities measured at fair value $ 914 $ 237 $ — $ 1,151
Investments Classified by Contractual Maturity Date	The contractual maturities of available-for-sale debt securities were as follows (in millions): June 23, Years to Maturity Less than one year $ 1,726 One to five years 2,913 Five to ten years 11 No single maturity date 475 Total $ 5,125

Composition of Certain Financ_3

Composition of Certain Financial Statement Items Inventories (Details) - USD ($) $ in Millions	Jun. 23, 2024	Sep. 24, 2023
Inventory, Net [Abstract]
Raw materials	$ 264	$ 176
Work-in-process	3,316	4,096
Finished goods	2,440	2,150
Inventories	$ 6,020	$ 6,422

Composition of Certain Financ_4

Composition of Certain Financial Statement Items Other Current Liabilities (Details) - USD ($) $ in Millions	Jun. 23, 2024	Sep. 24, 2023
Other Liabilities, Current [Abstract]
Customer incentives and other customer-related liabilities	$ 2,241	$ 1,821
Income taxes payable	701	1,717
Other	812	953
Other current liabilities	$ 3,754	$ 4,491

Composition of Certain Financ_5

Composition of Certain Financial Statement Items Debt (Details) - USD ($) $ in Millions	9 Months Ended
	Jun. 23, 2024	Jun. 25, 2023
Debt Instrument
Repayment of long-term debt	$ 914	$ 1,446
Level 2
Debt Instrument
Long-term Debt, Fair Value	13,800
Fixed rate notes due May 2024
Debt Instrument
Repayment of long-term debt	$ 914

Composition of Certain Financ_6

Composition of Certain Financial Statement Items Revenues (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Jun. 23, 2024	Jun. 25, 2023	Jun. 23, 2024	Jun. 25, 2023
Revenue
Revenues		$ 9,393	$ 8,451	$ 28,718	$ 27,189
Contract with Customer, Performance Obligation Satisfied in Previous Period		163	216	364	521
Contract with Customer, Liability, Revenue Recognized				271	302
QCT
Revenue
Revenues		8,069	7,174	24,518	23,008
Handsets | QCT
Revenue
Revenues	[1]	5,899	5,255	18,766	17,114
Automotive | QCT
Revenue
Revenues	[2]	811	434	2,012	1,337
IoT | QCT
Revenue
Revenues	[3]	$ 1,359	$ 1,485	$ 3,740	$ 4,557
[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 advanced driver assistance systems (ADAS) and automated driving (AD).[3]Primarily includes products sold for use in the following industries and applications: consumer (including computing, voice and music and extended reality (XR)), edge networking (including mobile broadband and wireless access points) and industrial (including handhelds, retail, tracking and logistics and utilities).

Composition of Certain Financ_7

Composition of Certain Financial Statement Items Concentrations (Details) - Sales - Customer Concentration Risk	3 Months Ended		9 Months Ended
	Jun. 23, 2024	Jun. 25, 2023	Jun. 23, 2024	Jun. 25, 2023
Customer/licensee (x)
Concentration Risk
Concentration Risk, Percentage	18%	24%	20%	21%
Customer/licensee (y)
Concentration Risk
Concentration Risk, Percentage	17%	23%	20%	28%
Customer/licensee (z)
Concentration Risk
Concentration Risk, Percentage	11%		13%

Composition of Certain Financ_8

Composition of Certain Financial Statement Items Other Income, Costs and Expenses (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Jun. 23, 2024	Jun. 23, 2024
Securities Class Action
Loss Contingencies [Line Items]
Loss Contingency, Loss in Period	$ 75	$ 75

Composition of Certain Financ_9

Composition of Certain Financial Statement Items Investment and Other Income (Expense), Net (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 23, 2024	Jun. 25, 2023	Jun. 23, 2024	Jun. 25, 2023
Investment Income, Net [Abstract]
Interest and dividend income	$ 182	$ 79	$ 490	$ 193
Net gains (losses) on marketable securities	8	(23)	16	(3)
Net gains on other investments	10	17	170	17
Net gains on deferred compensation plan assets	26	48	153	95
Impairment losses on other investments	(5)	(19)	(66)	(120)
Other	5	4	5	(16)
Investment and other income, net	$ 226	$ 106	$ 768	$ 166

Composition of Certain Finan_10

Composition of Certain Financial Statement Items Discontinued Operations (Details) $ in Billions	Jun. 01, 2023 USD ($)
Veoneer's Active Safety
Discontinued Operations [Abstract]
Disposal Group, Including Discontinued Operation, Consideration	$ 1.5

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		12 Months Ended
	Jun. 23, 2024	Jun. 25, 2023	Sep. 29, 2024
Income Taxes
Effective income tax rate (benefit)	8%	1%
Forecast
Income Taxes
Effective income tax rate (benefit)			7%
Forecast | FDII Effective Tax Rate
Income Taxes
Effective income tax rate (benefit)			13%

Capital Stock Share Repurchase

Capital Stock Share Repurchase Program (Details) - $10B stock repurchase program announced October 12, 2021 - USD ($) $ in Billions	Jun. 23, 2024	Oct. 12, 2021
Stock Repurchase Program
Authorized amount		$ 10
Remaining authorized amount	$ 2.3

Capital Stock Shares Outstandin

Capital Stock Shares Outstanding (Details) shares in Millions	9 Months Ended
	Jun. 23, 2024 shares
Shares Outstanding [Abstract]
Balance at September 24, 2023	1,114
Issued	20
Repurchased	(18)
Balance at June 23, 2024	1,116

Capital Stock Dividends (Detail

Capital Stock Dividends (Details) - $ / shares				3 Months Ended		9 Months Ended
	Sep. 26, 2024	Sep. 05, 2024	Jul. 17, 2024	Jun. 23, 2024	Jun. 25, 2023	Jun. 23, 2024	Jun. 25, 2023
Capital Stock Dividends
Dividends per share announced				$ 0.85	$ 0.80	$ 2.45	$ 2.30
Subsequent Event
Capital Stock Dividends
Dividends per share announced			$ 0.85
Dividends Payable, Date Declared			Jul. 17, 2024
Dividends Payable, Date to be Paid	Sep. 26, 2024
Dividends Payable, Date of Record		Sep. 05, 2024

Capital Stock Earnings per Co_2

Capital Stock Earnings per Common Share (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Jun. 23, 2024	Jun. 25, 2023	Jun. 23, 2024	Jun. 25, 2023
Earnings Per Share [Abstract]
Dilutive common share equivalents included in diluted shares	18	9	14	9
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	0	8	5	6

Commitments and Contingencies L

Commitments and Contingencies Legal and Regulatory Proceedings (Details) $ in Millions	3 Months Ended	9 Months Ended
	Jun. 23, 2024 USD ($)	Jun. 23, 2024 USD ($)
Loss Contingencies [Line Items]
Loss Contingency, Estimate of Possible Loss	$ 0	$ 0
Securities Class Action
Loss Contingencies [Line Items]
Loss Contingency, Loss in Period	$ 75	$ 75

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 23, 2024	Jun. 25, 2023	Jun. 23, 2024	Jun. 25, 2023
Segment Reporting Information [Line Items]
Revenues	$ 9,393	$ 8,451	$ 28,718	$ 27,189
Cost of revenues	(4,174)	(3,792)	(12,593)	(11,989)
Research and development expenses	(2,259)	(2,222)	(6,591)	(6,683)
Selling, general and administrative expenses	(664)	(618)	(1,998)	(1,854)
Other Operating Income (Expense), Net	(75)	4	(47)	(285)
Interest expense	(168)	(172)	(517)	(521)
EBT	2,279	1,757	7,740	6,023
Reconciling Items
Segment Reporting Information [Line Items]
Revenues	49	38	131	115
Cost of revenues	(54)	(42)	(168)	(155)
Research and development expenses	(549)	(520)	(1,664)	(1,537)
Selling, general and administrative expenses	(175)	(172)	(588)	(464)
Other Operating Income (Expense), Net	(75)	4	(47)	(285)
Interest expense	(168)	(172)	(518)	(520)
Investment and other (expense) income, net	213	130	648	252
EBT	(810)	(777)	(2,350)	(2,728)
QCT
Segment Reporting Information [Line Items]
Revenues	8,069	7,174	24,518	23,008
EBT	2,181	1,744	7,062	6,035
QTL
Segment Reporting Information [Line Items]
Revenues	1,273	1,230	4,051	4,044
EBT	894	811	2,907	2,799
QSI
Segment Reporting Information [Line Items]
Revenues	2	9	18	22
EBT	14	(21)	121	(83)
Other Segments
Segment Reporting Information [Line Items]
Revenues	49	38	131	115
Other Segments | Reconciling Items
Segment Reporting Information [Line Items]
EBT	$ (2)	$ (5)	$ (13)	$ (19)

Fair Value Measurements Fair Va

Fair Value Measurements Fair Value Hierarchy (Details) - Fair Value, Recurring $ in Millions	Jun. 23, 2024 USD ($)
Assets
Cash equivalents	$ 6,326
Marketable securities	5,262
Derivative instruments	23
Other investments	956
Total assets measured at fair value	12,567
Liabilities
Derivative instruments	237
Other liabilities	914
Total liabilities measured at fair value	1,151
Level 1
Assets
Cash equivalents	4,400
Marketable securities	461
Derivative instruments	0
Other investments	917
Total assets measured at fair value	5,778
Liabilities
Derivative instruments	0
Other liabilities	914
Total liabilities measured at fair value	914
Level 2
Assets
Cash equivalents	1,926
Marketable securities	4,801
Derivative instruments	23
Other investments	0
Total assets measured at fair value	6,750
Liabilities
Derivative instruments	237
Other liabilities	0
Total liabilities measured at fair value	237
Level 3
Assets
Cash equivalents	0
Marketable securities	0
Derivative instruments	0
Other investments	39
Total assets measured at fair value	39
Liabilities
Derivative instruments	0
Other liabilities	0
Total liabilities measured at fair value	0
Corporate bonds and notes
Assets
Marketable securities	4,292
Corporate bonds and notes | Level 1
Assets
Marketable securities	0
Corporate bonds and notes | Level 2
Assets
Marketable securities	4,292
Corporate bonds and notes | Level 3
Assets
Marketable securities	0
U.S. Treasury and government-related Securities
Assets
Marketable securities	358
U.S. Treasury and government-related Securities | Level 1
Assets
Marketable securities	324
U.S. Treasury and government-related Securities | Level 2
Assets
Marketable securities	34
U.S. Treasury and government-related Securities | Level 3
Assets
Marketable securities	0
Mortgage- and asset-backed securities
Assets
Marketable securities	475
Mortgage- and asset-backed securities | Level 1
Assets
Marketable securities	0
Mortgage- and asset-backed securities | Level 2
Assets
Marketable securities	475
Mortgage- and asset-backed securities | Level 3
Assets
Marketable securities	0
Equity securities
Assets
Marketable securities	137
Equity securities | Level 1
Assets
Marketable securities	137
Equity securities | Level 2
Assets
Marketable securities	0
Equity securities | Level 3
Assets
Marketable securities	$ 0

Marketable Securities (Details)

Marketable Securities (Details) - Available-for-Sale Securities [Member] $ in Millions	Jun. 23, 2024 USD ($)
Marketable Securities
Less than one year	$ 1,726
One to five years	2,913
Five to ten years	11
No single maturity date	475
Debt Securities, Available-for-sale	$ 5,125