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Composition of Certain Financial Statement Items (Tables)
6 Months Ended
Mar. 29, 2026
Condensed Financial Information Disclosure [Abstract]  
Inventories
Inventories (in millions)
March 29,
2026
September 28,
2025
Raw materials$580 $336 
Work-in-process4,346 3,985 
Finished goods2,442 2,205 
$7,368 $6,526 
Other Current Liabilities
Other Current Liabilities (in millions)
March 29,
2026
September 28,
2025
Customer incentives and other customer-related liabilities
$2,865 $1,948 
Income taxes payable
508 1,007 
Other
1,230 1,201 
$4,603 $4,156 
QCT Revenues Disaggregated
QCT revenue streams were as follows (in millions):
Three Months EndedSix Months Ended
March 29,
2026
March 30,
2025
March 29,
2026
March 30,
2025
Handsets (1)
$6,024 $6,929 $13,848 $14,503 
Automotive (2)1,326 959 2,427 1,920 
IoT (internet of things) (3)
1,726 1,581 3,414 3,130 
Total QCT revenues$9,076 $9,469 $19,689 $19,553 
(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 personal computers (PCs), extended reality (XR) and other personal computing devices), 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 sales-based royalty revenues related to system software, certain amounts related to customer incentives and licensing revenues recognized related to devices sold in prior periods (including revenues resulting from certain settlements and adjustments to prior period royalty estimates, which include the impact of the reporting by our licensees of actual royalties due) and were as follows (in millions):
Three Months EndedSix Months Ended
March 29,
2026
March 30,
2025
March 29,
2026
March 30,
2025
Revenues recognized from previously satisfied performance obligations$132 $285 $313 $526 
Customer Concentrations - Revenues Revenues from each customer/licensee that were 10% or greater of total revenues were as follows:
Three Months EndedSix Months Ended
March 29,
2026
March 30,
2025
March 29,
2026
March 30,
2025
Customer/licensee (x)24%27%20%21%
Customer/licensee (y)22182421
Customer/licensee (z)*10*12
*Less than 10%
Investment and Other Income (Expense), Net
Investment and Other Income, Net (in millions)
Three Months EndedSix Months Ended
March 29,
2026
March 30,
2025
March 29,
2026
March 30,
2025
Interest and dividend income$113 $167 $250 $336 
Net (losses) gains on marketable securities(64)18 (120)37 
Net gains (losses) on other investments
(5)217 26 
Net losses on deferred compensation plan assets
(56)(34)(13)(20)
Impairment losses on other investments(12)(16)(23)(41)
Equity in net earnings of investees
44 18 83 16 
Other62 — 50 37 
$94 $148 $444 $391