QUALCOMM IncorporatedNasdaq: QCOM
Information Technology · Semiconductors
$176.89
-1.50%
Vol: 28.0M
Research Digest
Friday, May 1, 2026
Qualcomm shares surge 15% after announcing custom data center chip shipments to unnamed hyperscaler starting December; guidance disappoints
Qualcomm initially fell 7% on Q2 earnings miss, but CEO Cristiano Amon's announcement of December 2026 custom silicon shipments to major hyperscaler triggered 16% after-hours surge. Q2 revenue fell 2% YoY to $10.6B; handset revenue down 13% YoY to $6.02B as Chinese OEMs cut orders. Automotive revenue exceeded $5B annualized for first time. Q3 guidance of $9.2-10B and EPS $2.10-2.30 came below consensus. Additional upside from OpenAI/Microsoft AI-focused smartphone processor partnership targeting 2028. Analyst upgrades: Benchmark $225, TD Cowen $200.
Previous Market Intelligence
13 daysApr 30Qualcomm Q2 beats, stock soars 15-16% on CEO comments on China recovery, hyperscaler data center dealPositive▶
Qualcomm reported fiscal Q2 2026 revenue of $10.6B (down ~3% YoY) but beat expectations on adjusted EPS of $2.65 vs. consensus $2.56. CEO Cristiano Amon telegraphed a bottom in China sales, stating "customers are running out of inventory," with Android revenue expected to resume sequential growth in Q4. The major catalyst: Qualcomm will ship data center chips to a "large hyperscaler" ahead of schedule, positioning it as a player in the AI infrastructure boom. Q3 guidance of $9.2-10B revenue (midpoint $9.6B) fell short of $10.19B Street consensus, but the data center commentary drove a 15-16% intraday surge. Handset revenue declined 13% YoY, but off-handset strength (IoT, RF, automotive) offset weakness. RBC raised PT to $175 from $150 (Sector Perform). Evercore ISI set PT to $179.
Apr 29Qualcomm Q2 EPS $2.65 beats, stock jumps 16% after CEO signals data center ramp and China bottomMixed▶
Qualcomm reported Q2 2026 EPS of $2.65 and revenue of $10.59B, both beating expectations, but stock initially fell 6% on weak Q3 guidance ($9.2-10B midpoint vs. $10.26B consensus). After-hours surge of 16% driven by CEO Cristiano Amon's bullish commentary: company will ship data center chips to large hyperscaler ahead of schedule and expects current quarter as bottom for China sales as customers exhaust inventory. Automotive revenue hit record $1.33B (+38% YoY), showcasing strength in digital cockpit and connectivity. Analyst consensus: Hold (8 Buy / 17 Hold / 4 Sell) with average price target $152.28, implying 2.38% downside.
Apr 16Qualcomm secures multi-year Snap AR deal; Q2 fiscal 2026 earnings call scheduled for April 29Positive▶
Qualcomm announced a multi-year partnership with Snap Specs unit to supply Snapdragon XR chips for upcoming AI smart glasses launching later this year, highlighting diversification beyond smartphones. The company also announced a $20 billion stock buyback and increased quarterly dividend to $3.68. Q2 2026 earnings will be reported on April 29 after market close. Stock trades at $132.15 in pre-market, up 0.68% overnight. Insider Akash Palkhiwala sold 2,500 shares on April 13.
Apr 14Qualcomm CEO calls 2026 the year of AI agents; Snap partnership for AR glassesMixed▶
CEO declared 2026 the year of AI agents. Snap selected Snapdragon XR for Specs AR glasses. $20B buyback announced. Earnings April 29. Consensus Buy $155 PT.
Apr 13Qualcomm secures Snap AR partnership; reports strong Q1 EPS beat; analyst forecasts mixedMixed▶
Qualcomm strengthened AR market position via multi-year Snapdragon XR partnership with Snap Specs. Q1 2026 EPS beat: $3.50 vs $3.15 estimate (+11.11%). Dividend increased to $0.92/share; $20B share buyback approved. Stock trading ~$127 (-26.5% YTD). Erste Group Bank cut FY2026 EPS forecasts.
Apr 10Qualcomm announced $20B buyback and dividend increase amid mixed analyst sentiment and smartphone headwinds.Mixed▶
Qualcomm stock jumped on $20B share buyback and quarterly dividend increase to 92 cents. Record FY2025 revenue of $11.7B (+18% YoY) with EPS growth of 24%. Handset, automotive (+61% YoY), and IoT (+36% YoY) segments drove growth. Stock down 28% YTD amid global memory squeeze and Apple modem transition. Earnings expected May 6.
Apr 9Qualcomm announces $20B buyback, raises dividend to $3.68Neutral▶
Qualcomm rose 2.16% to $126.70 after announcing $20B stock buyback and raising quarterly dividend to $3.68. FY2025 started strong with record $11.7B revenue (+18% YoY), automotive (+61%) and IoT (+36%) segments surging. Stock remains down 26.5% YTD amid Apple losses offset by automotive/IoT gains.
Apr 8Qualcomm announces $20B buyback and dividend increase; Goldman initiates Neutral with $135 PT.Neutral▶
QCOM announced $20 billion share buyback and increased quarterly dividend from $0.89 to $0.92 in late March. Goldman Sachs began coverage with neutral rating and $135 target on March 30. Q1 FY2025 showed record $11.7B revenue (+18% YoY) and $3.41 EPS (+24% YoY). Pre-market April 7 minimal at $125.76.
Apr 7Qualcomm announces $20B buyback and dividend hike despite 24% YTD decline.Mixed▶
Qualcomm reported record Q1 FY26 revenue of $12.3 billion but faces global memory shortage headwinds. The company announced a $20 billion share buyback and raised quarterly dividend from $0.89 to $0.92 per share effective post-March 26, 2026, increasing annualized dividend to $3.68. Automotive revenue jumped 15% YoY to $1.1 billion with Q2 automotive growth expected above 35%. IoT revenue grew 9% to $1.7 billion. Despite strong diversification into automotive, PCs, and data centers, handset headwinds and Apple relationship concerns persist.
Apr 6Qualcomm Q1 FY2026 EPS $3.50 beats; $20B buyback and dividend hike approved.Positive▶
QCOM Q1 FY2026 EPS $3.50 beat $3.15 by 11%. Board approved $20B buyback and increased quarterly dividend to $0.92. Announced full robotics tech suite, expanded Google automotive partnership, Snapdragon X2 Plus launch. 6G commercialization targeted 2029.
Apr 3Memory chip shortage and Apple losses weigh on Qualcomm as 4nm wafer starts decline 15% YoY.Negative▶
Qualcomm faces headwinds from surging memory prices and smartphone demand cooling, with concerns about potential Apple losses. The company has cut 4nm wafer starts by approximately 15% year-over-year. However, Qualcomm is expanding into AI and automotive markets. The company increased its quarterly dividend to $0.92 per share and authorized a $20 billion buyback. Q2 2026 earnings are scheduled for May 6.
Apr 1Qualcomm increases dividend and authorizes $20 billion share repurchase amid legal victory against Arm and automotive/IoT growth.Mixed▶
Qualcomm increased its quarterly cash dividend from $0.89 to $0.92 per share and approved a $20 billion stock repurchase authorization. The company secured a complete legal victory against Arm Ltd. Qualcomm is targeting $22 billion combined revenue from automotive and industrial IoT segments by 2029. Stock is down 19% in 2026 with 26.5% year-to-date decline, though Wall Street rates QCOM Moderate Buy with mean price target of $165.72.
Mar 31Qualcomm authorizes $20B buyback and raises dividend 3.4% despite 24.5% YTD decline amid Apple shift concerns.Negative▶
Qualcomm $20B buyback program and 3.4% dividend increase to $0.92. Record Q1 FY2026 revenue $12.3B. Automotive up 15% YoY to $1.1B. Stock down 24.5% YTD. Bernstein downgraded to Market Perform with $140 PT. Consensus Moderate Buy $161.32.
Sector Peers
| Company | Price | Day | 1M | Fwd P/E | Beta | Mkt Cap |
|---|---|---|---|---|---|---|
| QCOMQUALCOMM | $176.89 | -1.50% | +42.8% | 16.8x | 1.28 | $191.8B |
| NVDANVIDIA | $198.66 | -0.46% | +12.3% | 17.8x | 2.33 | $4.85T |
| AVGOBROADCOM | $420.41 | +0.71% | +32.8% | 23.0x | 1.25 | $1.98T |
| MUMICRON | $541.19 | +4.65% | +36.9% | 5.1x | 1.61 | $583.2B |
| AMDADVANCED | $360.21 | +1.61% | +61.0% | 32.0x | 1.96 | $578.0B |
| INTCINTEL | $99.64 | +5.46% | +86.1% | 63.8x | 1.35 | $474.9B |
Key Fundamentals
RSI (14-Day)
52-Week Range
Moving Averages
Price above both MAs — bullish structure.