MEDIUMBuilt-in & outside partyGeographic
China
“10-K Item 1A: 'A significant portion of our business is concentrated in China'”
QCOM · Concentration risk · 10-K extracted
QUALCOMM (QCOM) concentration risks
Updated
The most significant concentration QUALCOMM discloses is China, classified MEDIUM by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: QUALCOMM’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 3 disclosed concentrations
HIGH0
MEDIUM3
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
MEDIUMOutside partyCustomer
small number of customers and licensees
“10-K Item 1A: 'We derive a significant portion of our revenues from a small number of customers and licensees, and particularly from their sale of premium-tier handset devices'”
MEDIUMOutside partySupplier
limited number of third-party suppliers
“10-K Item 1A: 'We depend on a limited number of third-party suppliers for the procurement, manufacture, assembly and testing of our products manufactured in a fabless production model'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-06-24The company's concentration profile is moderate across three dimensions — geographic, customer, and supplier — and all three carry meaningful dependency or structural features. A significant portion of the business is concentrated in China — a moderate-share mixed exposure — reflecting both the structural reality of where the company's technology demand is located and the dependency risk that geopolitical tensions, export controls, or shifts in Chinese government policy toward foreign semiconductor firms could affect revenue. China is both a large end-market for semiconductors and a geography where the regulatory and trade environment is subject to rapid change. On the customer side, the company derives a significant portion of revenues from a small number of customers and licensees, particularly from their sale of premium-tier handset devices — a moderate-share dependency. Premium smartphone demand concentration means that the revenue cycle is closely tied to the product refresh cadence and volume decisions of a handful of OEMs, and any structural shift in those customers' use of alternative suppliers or internal chip designs would have an outsized effect relative to the broader customer base. The supply side carries a parallel dependency: the company relies on a limited number of third-party suppliers for procurement, manufacture, assembly, and testing in a fabless production model — a moderate-share exposure. Fabless manufacturers are inherently dependent on foundry capacity and assembly partners; disruptions at those suppliers translate directly into shipment delays. Together the three moderate-share exposures reinforce each other — China geographic risk, premium customer concentration, and foundry dependency — creating a profile where multiple risks can co-move during a period of geopolitical or supply-chain stress.
For the engine’s reasoning on QCOM’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Semiconductors
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| ALAB | Astera Labs, Inc. | 3 | 0 | 0 | 3 |
| AVGO | Broadcom Inc. | 2 | 1 | 0 | 3 |
| ADI | Analog Devices, Inc. | 2 | 0 | 0 | 2 |
| ALGM | Allegro MicroSystems, Inc. | 1 | 2 | 0 | 3 |
| AMD | Advanced Micro Devices, Inc. | 1 | 2 | 0 | 3 |
| QCOM● | QUALCOMM Incorporated | 0 | 3 | 0 | 3 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.