VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 2, 2026

Stock Comparison

QUALCOMM Incorporated vs SBA Communications Corporation

Compare moat strength, market structure, and segment coverage to understand how each company defends its edge.

QUALCOMM Incorporated

QCOM · NASDAQ Global Select Market

Market cap (USD)$186.1B
Gross margin (TTM)55.4%
Operating margin (TTM)27.9%
Net margin (TTM)12.5%
SectorTechnology
IndustrySemiconductors
CountryUS
Data as of2025-12-30
Moat score
70/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into QUALCOMM Incorporated's moat claims, evidence, and risks.

View QCOM analysis

SBA Communications Corporation

SBAC · NASDAQ

Market cap (USD)
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorReal Estate
IndustryREIT - Specialty
CountryUS
Data as of2026-01-02
Moat score
71/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into SBA Communications Corporation's moat claims, evidence, and risks.

View SBAC analysis

Comparison highlights

  • Moat score gap: SBA Communications Corporation leads (71 / 100 vs 70 / 100 for QUALCOMM Incorporated).
  • Segment focus: QUALCOMM Incorporated has 4 segments (62.8% in Handset chipsets (Snapdragon platforms)); SBA Communications Corporation has 3 segments (69.5% in Domestic Site Leasing).
  • Moat breadth: QUALCOMM Incorporated has 7 moat types across 4 domains; SBA Communications Corporation has 4 across 2.

Primary market context

QUALCOMM Incorporated

Handset chipsets (Snapdragon platforms)

Market

Smartphone application processors and cellular modem/RF platforms

Geography

Global

Customer

Smartphone OEMs

Role

fabless semiconductor/platform supplier

Revenue share

62.8%

SBA Communications Corporation

Domestic Site Leasing

Market

U.S. wireless macro tower leasing (multi-tenant co-location on communications towers)

Geography

United States and territories

Customer

Wireless service providers and other wireless network operators/tenants

Role

Independent tower owner/operator (REIT)

Revenue share

69.5%

Side-by-side metrics

QUALCOMM Incorporated
SBA Communications Corporation
Ticker / Exchange
QCOM - NASDAQ Global Select Market
SBAC - NASDAQ
Market cap (USD)
$186.1B
n/a
Gross margin (TTM)
55.4%
n/a
Operating margin (TTM)
27.9%
n/a
Net margin (TTM)
12.5%
n/a
Sector
Technology
Real Estate
Industry
Semiconductors
REIT - Specialty
HQ country
US
US
Primary segment
Handset chipsets (Snapdragon platforms)
Domestic Site Leasing
Market structure
Oligopoly
Oligopoly
Market share
22%-26% (estimated)
16%-19% (implied)
HHI estimate
n/a
3,710
Pricing power
Moderate
Moderate
Moat score
70 / 100
71 / 100
Moat domains
Supply, Network, Demand, Legal
Supply, Demand
Last update
2025-12-30
2026-01-02

Moat coverage

Shared moat types

Long Term Contracts

QUALCOMM Incorporated strengths

Keystone ComponentCapex Knowhow ScaleEcosystem ComplementsDesign In QualificationScope EconomiesIP Choke Point

SBA Communications Corporation strengths

Physical Network DensityScale Economies Unit CostOperational Excellence

Segment mix

QUALCOMM Incorporated segments

Full profile >

Handset chipsets (Snapdragon platforms)

Oligopoly

62.8%

Automotive silicon (connectivity, digital cockpit, ADAS/AD)

Oligopoly

8.9%

IoT silicon (consumer, industrial, edge networking)

Competitive

14.9%

Wireless technology licensing (cellular SEPs, royalties)

Oligopoly

12.6%

SBA Communications Corporation segments

Full profile >

Domestic Site Leasing

Oligopoly

69.5%

International Site Leasing

Oligopoly

24.8%

Site Development

Competitive

5.7%

Want the full wide moat stocks list?

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Curation & Accuracy

This directory blends AI‑assisted discovery with human curation. Entries are reviewed, edited, and organized with the goal of expanding coverage and sharpening quality over time. Your feedback helps steer improvements (because no single human can capture everything all at once).

Details change. Pricing, features, and availability may be incomplete or out of date. Treat listings as a starting point and verify on the provider’s site before making decisions. If you spot an error or a gap, send a quick note and I’ll adjust.