Qualcomm Incorporated (NASDAQ: QCOM) ended Friday, December 19, 2025 on a constructive note—finishing the regular session higher and holding near unchanged in after-hours trading, even as semiconductor peers with heavier “AI beta” grabbed most of the spotlight.
QCOM stock closed at $175.25, up 0.61%, and ticked up to about $175.47 in after-hours trading (as of 4:44 p.m. ET). [1]
Because December 19 is a Friday, U.S. markets are closed on Saturday—so the “next open” for most investors is Monday, December 22, 2025. Below is what mattered after the bell, what drove the day’s action, and what to watch next.
Qualcomm stock price after the bell: calm after-hours, positive close
Qualcomm’s price action was steady late Friday:
- Close (Dec. 19): $175.25 (+0.61%) [2]
- After-hours (early read): about $175.47 (+0.13%) [3]
- Day’s range: roughly $174.20–$177.19 [4]
The lack of a sharp after-hours move usually signals no major late-breaking company headline hit the tape immediately after the close—useful context heading into the weekend.
The market backdrop: AI rebound + “triple witching” volume
Friday’s broader tape leaned bullish for equities—especially tech—helping “quality semis” like Qualcomm grind higher even without a company-specific catalyst dominating headlines.
The S&P 500 rose 0.88% to 6,834.50, while the Dow gained 0.38% to 48,134.89 in a session where AI-linked names helped lead the advance. [5]
There was also a mechanical factor in play: Friday was a quarterly “triple witching” day, when large blocks of derivatives expire and trading volume often surges. Axios reported estimates around $7+ trillion of options/futures expiring, a setup that typically boosts volume even if it doesn’t always create extreme volatility. [6]
For Qualcomm specifically, volume printed around 25.2 million shares, materially above typical daily activity cited by market summaries—consistent with a tape influenced by expiration-related flows. [7]
Today’s Qualcomm-specific headlines: insider selling disclosure
One of the clearest QCOM-specific items dated December 19 was an insider transaction disclosure.
MarketBeat reported that EVP Akash Palkhiwala sold 2,538 shares at an average price of $175.95 (about $446,561 total), and that the sale was disclosed via an SEC filing. [8]
How to interpret it (without overreacting):
- Insider selling can be routine—often tied to tax obligations, diversification, or pre-set trading plans—and a sale this size is not automatically a “red flag.”
- Still, it’s a datapoint traders watch closely when a stock has been strong and valuation is being debated (more on that below).
A separate TradingView “key facts” roundup also flagged a Form 144 filing connected to a planned sale under a prearranged trading plan (allowing sales within 90 days), which can add to the perception of “insiders taking some chips off the table” even if it’s procedural. [9]
The big strategic theme still driving Qualcomm: data center + AI expansion
Even if Friday’s after-hours tape was quiet, Qualcomm’s core narrative into year-end remains its push beyond smartphones and into higher-growth compute markets—especially data center infrastructure.
Alphawave Semi deal: now completed
Qualcomm confirmed it completed its acquisition of Alphawave Semiahead of schedule, positioning the assets as a boost to its data center expansion, and naming Alphawave CEO Tony Pialis to lead Qualcomm’s data center business. [10]
The company explicitly framed Alphawave’s high-speed wired connectivity as complementary to Qualcomm’s next-gen Oryon CPU and Hexagon NPU roadmap—language that matters because investors are trying to price Qualcomm less like a handset cycle name and more like a compute/platform story. [11]
The AI chip roadmap investors are pricing in
Earlier strategic momentum still hangs over the stock: Reuters reported in late October that Qualcomm announced two data-center AI chips (AI200 and AI250) aimed at commercial release on a 2026/2027 timeline as it works to compete in AI infrastructure beyond smartphones. [12]
Taken together, the market’s Qualcomm debate is increasingly about execution risk vs. re-rating potential in these newer segments.
Today’s analysis and forecasts: valuation debate is front and center
A widely circulated MarketBeat analysis (republished on Investing.com) captured the tension investors are wrestling with into the final sessions of 2025:
- Qualcomm is up about 12% year-to-date and more than 40% since April, according to the analysis. [13]
- The piece argues QCOM’s P/E multiple has climbed to decade-high territory, raising the bar for execution in 2026. [14]
- Bulls see the higher multiple as a re-rating tied to a more diversified mix (auto, IoT, edge, and data center). Bears see it as a risk if earnings growth doesn’t match expectations. [15]
Street targets: modest upside implied (not a “screaming cheap” setup)
Consensus-style target estimates clustered around the low-$190s:
- MarketWatch listed an average target price around $192.83 (with an average recommendation described as “Overweight”). [16]
- Yahoo Finance displayed a 1-year target estimate around $192.40. [17]
- MarketBeat’s compilation showed a similar average target near $192.94. [18]
With QCOM closing at $175.25, that implies roughly ~10% upside to consensus targets—respectable, but not the kind of gap that typically eliminates execution risk. [19]
Fundamentals check: the last earnings and the next big date to circle
What Qualcomm last guided (still the near-term anchor)
In its fiscal Q4 2025 release, Qualcomm reported Q4 revenue of $11.27B and non-GAAP EPS of $3.00, and guided Q1 FY26 revenue of $11.8B–$12.6B with non-GAAP EPS of $3.30–$3.50. [20]
The company also noted that recent U.S. tax legislation drove a non-cash charge affecting GAAP results—one reason many traders lean on non-GAAP trendlines when modeling near-term profitability. [21]
Next earnings: confirmed on Qualcomm’s IR calendar
Qualcomm’s investor site lists the Q1 FY26 earnings conference call on February 4, 2026 (1:45 p.m. PT)—a key catalyst for guidance updates and data-center/AI commentary. [22]
Technical context: where QCOM sits versus its 52-week range
Qualcomm remains well off its peak—important for framing both upside narratives and “mean reversion” fears:
- 52-week high:$205.95
- 52-week low:$120.80 [23]
At $175.25, QCOM is about 15% below the 52-week high—suggesting the stock is not in “blue-sky breakout mode,” but also not priced like it’s under acute stress. [24]
What to watch before the next market open
Here are the items most likely to matter for QCOM heading into Monday’s session:
1) Any weekend follow-through on data center narrative
Investors will keep pressure on the “new Qualcomm” storyline—especially integration commentary around Alphawave Semi and any incremental read-through on data center customer traction. [25]
2) Post-expiration positioning after triple witching
With Friday’s expiration flows in the rearview mirror, Monday often reveals what was “real demand” vs. mechanical hedging. The marketwide setup was explicitly expiration-heavy. [26]
3) Insider-sale headlines and how traders spin them
Insider sales can create headline noise—particularly when valuation is being debated. Watch whether financial media amplifies the Form 4/Form 144 angle over the weekend. [27]
4) Semiconductor sentiment: AI leaders are steering the group
Friday’s rally was driven in part by AI/tech strength. If that factor reverses Monday, QCOM can get pulled with the group even without Qualcomm-specific news. [28]
5) The next hard catalyst date: Feb. 4 earnings
From here, QCOM can drift on sentiment—until the next big “reset” moment when Qualcomm updates numbers and guidance. That date is already on the calendar. [29]
Bottom line for Qualcomm stock heading into Monday
Qualcomm finished December 19 with a modest gain and a flat-to-slightly-higher after-hours tape—steady behavior on a day when AI-heavy peers made bigger moves. [30]
The weekend setup for QCOM investors is clear:
- Near-term trading may be influenced by post-expiration positioning after triple witching. [31]
- The headline risk is mostly about interpretation (insider selling) rather than a fundamental shock. [32]
- The strategic bull case continues to hinge on Qualcomm’s data center + AI expansion, with the Alphawave Semi acquisition now closed and investor attention turning to integration and execution. [33]
- Consensus forecasts point to moderate upside from current levels, but the valuation debate suggests Monday’s tape could remain headline-sensitive. [34]
References
1. finance.yahoo.com, 2. finance.yahoo.com, 3. finance.yahoo.com, 4. finance.yahoo.com, 5. apnews.com, 6. www.axios.com, 7. www.marketbeat.com, 8. www.marketbeat.com, 9. www.tradingview.com, 10. investor.qualcomm.com, 11. investor.qualcomm.com, 12. www.reuters.com, 13. www.investing.com, 14. www.investing.com, 15. www.investing.com, 16. www.marketwatch.com, 17. finance.yahoo.com, 18. www.marketbeat.com, 19. finance.yahoo.com, 20. investor.qualcomm.com, 21. investor.qualcomm.com, 22. investor.qualcomm.com, 23. investor.qualcomm.com, 24. finance.yahoo.com, 25. investor.qualcomm.com, 26. www.axios.com, 27. www.marketbeat.com, 28. apnews.com, 29. investor.qualcomm.com, 30. finance.yahoo.com, 31. www.axios.com, 32. www.marketbeat.com, 33. investor.qualcomm.com, 34. www.marketwatch.com
