VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

QUALCOMM Incorporated vs Spotify Technology S.A.

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)$188.8B
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

Spotify Technology S.A.

SPOT · New York Stock Exchange

Market cap (USD)$121.5B
Gross margin (TTM)31.8%
Operating margin (TTM)11.7%
Net margin (TTM)8.3%
SectorCommunication Services
IndustryInternet Content & Information
CountryLU
Data as of2026-01-06
Moat score
65/ 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 Spotify Technology S.A.'s moat claims, evidence, and risks.

View SPOT analysis

Comparison highlights

  • Moat score gap: QUALCOMM Incorporated leads (70 / 100 vs 65 / 100 for Spotify Technology S.A.).
  • Segment focus: QUALCOMM Incorporated has 4 segments (62.8% in Handset chipsets (Snapdragon platforms)); Spotify Technology S.A. has 2 segments (88.2% in Premium (subscription)).
  • Moat breadth: QUALCOMM Incorporated has 7 moat types across 4 domains; Spotify Technology S.A. has 6 across 4.

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%

Spotify Technology S.A.

Premium (subscription)

Market

Paid music and audio streaming subscriptions

Geography

Global

Customer

Consumers (end-users) and distribution partners (e.g., telcos)

Role

Streaming platform operator

Revenue share

88.2%

Side-by-side metrics

QUALCOMM Incorporated
Spotify Technology S.A.
Ticker / Exchange
QCOM - NASDAQ Global Select Market
SPOT - New York Stock Exchange
Market cap (USD)
$188.8B
$121.5B
Gross margin (TTM)
55.4%
31.8%
Operating margin (TTM)
27.9%
11.7%
Net margin (TTM)
12.5%
8.3%
Sector
Technology
Communication Services
Industry
Semiconductors
Internet Content & Information
HQ country
US
LU
Primary segment
Handset chipsets (Snapdragon platforms)
Premium (subscription)
Market structure
Oligopoly
Oligopoly
Market share
22%-26% (estimated)
31%-33% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
70 / 100
65 / 100
Moat domains
Supply, Network, Demand, Legal
Network, Demand, Legal, Supply
Last update
2025-12-30
2026-01-06

Moat coverage

Shared moat types

No overlap yet.

QUALCOMM Incorporated strengths

Keystone ComponentCapex Knowhow ScaleEcosystem ComplementsDesign In QualificationScope EconomiesIP Choke PointLong Term Contracts

Spotify Technology S.A. strengths

Data Network EffectsInteroperability HubTwo Sided NetworkBrand TrustContent Rights CurrencyScale Economies Unit Cost

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%

Spotify Technology S.A. segments

Full profile >

Premium (subscription)

Oligopoly

88.2%

Ad-Supported (advertising)

Competitive

11.8%

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.