NEW YORK, December 30, 2025, 15:14 ET — Regular session
- Qualcomm shares were slightly higher in afternoon trading as investors parsed fresh Federal Reserve minutes.
- Chip stocks held a steady tone in thin year-end volumes, keeping rate expectations in focus.
- Qualcomm’s next scheduled catalyst is its fiscal Q1 earnings call on Feb. 4.
Qualcomm (QCOM.O) shares were up about 0.2% at $173.75 in afternoon trading on Tuesday, hovering near Monday’s close as markets digested new details on the U.S. interest-rate outlook.
That matters for Qualcomm and other semiconductor names because investors often value them like “growth” stocks, whose prices can swing when bond yields move. In year-end trading, the rate narrative can outweigh company-specific headlines.
Minutes from the Federal Reserve’s Dec. 9-10 meeting — the detailed account of policymakers’ debate — showed officials split even after approving a quarter-point, or 0.25 percentage point, cut that brought the benchmark rate to 3.5%–3.75%. The Fed next meets Jan. 27-28, with December jobs and inflation reports due Jan. 9 and Jan. 13 after a 43-day government shutdown disrupted the usual flow of data.
The broader U.S. market was muted in holiday-thin trade, with investors reassessing big technology positions after a year-end run. “The valuation gap is so wide, it absolutely is justified to see repositioning,” said Mark Hackett, chief market strategist at Nationwide. Reuters
Chip stocks were modestly firmer overall, with the Philadelphia Semiconductor Index — a benchmark for U.S. chipmakers — up 0.13% on the day.
Qualcomm’s session range has been narrow, reflecting the tentative tone. The stock traded between $172.68 and $174.36, after opening at $174.06.
With no fresh Qualcomm announcements on Tuesday, the shares largely tracked broader risk appetite rather than any new company catalyst. The stock’s muted move also reflected the thinner liquidity typical of the last trading days of the year.
The next company checkpoint comes with earnings. Qualcomm last month forecast fiscal first-quarter revenue and adjusted profit above analysts’ estimates, pointing to demand for premium smartphones with on-device AI features; CEO Cristiano Amon said a shift toward higher-end devices, especially in China and India, was supporting growth, while automotive chip revenue topped $1 billion in the prior quarter for the first time.
Investors continue to watch the company’s exposure to Apple, its largest modem customer, as the iPhone maker works to bring more component design in-house — a shift Qualcomm has warned could reduce modem shipments over time.
For now, the market’s focus is on whether the Fed’s internal divisions translate into a slower pace of cuts in 2026, a question that can influence valuations across the semiconductor group. A clearer signal is likely to come once January’s jobs and inflation data reassert the normal rhythm of trading.
Qualcomm has scheduled its fiscal first-quarter earnings conference call for Feb. 4, 2026, at 1:45 p.m. PT. Traders will be watching the outlook for handset chips and licensing revenue, along with progress in newer growth areas such as automotive and data-center products.
Until then, Qualcomm’s stock looks set to move on the same cross-currents driving the sector: rates, risk appetite and rotation within tech in the final stretch of 2025.
