QCOMQUALCOMM Incorporated
QUALCOMM Incorporated sells wireless semiconductor technology, including chips for smartphones, IoT devices, and emerging AI applications. The next catalyst is Oct 15, 2026 — Major Android & PC OEM Design, which will test the company’s ability to secure design wins in the next generation of Android and PC hardware. Qualcomm’s AI chip ambitions and its push into automotive and data center markets will be under the microscope.
- Qualcomm’s revenue hit $43.16B in 2026, with a net margin of 34.8% and a debt-to-equity ratio of 3.22x.
- The company’s diluted EPS of $1.87 reflects strong profitability, though its leverage remains a concern.
- Revenue grew 13.7% YoY, driven by AI and 5G adoption, but its reliance on smartphone OEMs remains a risk.
The Read
Qualcomm's stock historically reacted with a median absolute move of ~28%.
The schedule
- Thu15Oct
Major design collaboration with Android and PC OEMs
- Wed4Nov
Quarterly earnings release with guidance for Q3 2026
- Wed20Jan
Analysis of global smartphone demand and supply dynamics
- Wed5May
Quarterly earnings release with guidance for Q1 2027
- Wed4Aug
Quarterly earnings release with guidance for Q2 2027
- Wed3Nov
Past
- Thu10Sep
Actual outcome: Bull · $184.85 at outcome
Qualcomm shares exceeded the bull target following the announcement of a major AI infrastructure partnership with Amazon Web Services, which included issuing up to $4 billion in stock warrants to the cloud provider. This strategic deal significantly expanded Qualcomm's footprint in the data center market beyond its traditional handset business, driving strong investor optimism around its growing influence in AI chips and long-term revenue diversification.
Potential tightening or clarification of U.S. export controls on advanced semis and China licensing outcomes could drive a major reset of Qualcomm’s China Android and networking exposure.
- Wed29Apr
Actual outcome: Bull · $215.84 at outcome
Despite a modest Q2 earnings report where EPS met estimates and revenue slightly missed, Qualcomm shares surged over 38% to easily surpass the bull target. The massive rally was driven by the company's upbeat AI data center pivot, a strong capital-return strategy including buybacks, and the unveiling of new Snapdragon chips alongside a Snap AR partnership. These developments shifted investor focus toward Qualcomm's long-term AI growth narrative, prompting analyst upgrades and heavy buying.
Despite a modest Q2 earnings report where EPS met estimates and revenue slightly missed, Qualcomm shares surged over 38% to easily surpass the bull target. The massive rally was driven by the company's upbeat AI data center pivot, a strong capital-return strategy including buybacks, and the unveiling of new Snapdragon chips alongside a Snap AR partnership. These developments shifted investor focus toward Qualcomm's long-term AI growth narrative, prompting analyst upgrades and heavy buying.
- Wed4Feb
Actual outcome: Bear · $137.34 at outcome
Qualcomm reported a slight Q1 EPS beat ($3.50 vs $3.39), but the results were overshadowed by significantly weak forward guidance. Management warned that a global DRAM shortage and rising memory prices were compelling smartphone OEMs to reduce production plans and adopt extreme inventory caution. This signaled continued pressure on the core mobile segment, failing to deliver the expected clear return to operational stability, causing the stock to fall sharply below the bear floor.
Qualcomm reported a slight Q1 EPS beat ($3.50 vs $3.39), but the results were overshadowed by significantly weak forward guidance. Management warned that a global DRAM shortage and rising memory prices were compelling smartphone OEMs to reduce production plans and adopt extreme inventory caution. This signaled continued pressure on the core mobile segment, failing to deliver the expected clear return to operational stability, causing the stock to fall sharply below the bear floor.
