The Projection — a symmetric watercolor butterfly

The Projection

The surface is never the system.

← Qualcomm

Capital · out

buybacks ~$11.8B + dividends ~$3.8B + capex ~$1.8B — capital-return dominates outflows (>$15B/yr)

high confidence · as of 2026-07-26 · about Qualcomm

Sourced figures 1


the working

A claim is one metric we assert about a node — the value is the summary, this page is the receipt. Sourced from kestrel; supersedes-history not yet shown. Back to Qualcomm.