New York, Feb 4, 2026, 15:10 EST — Regular session
- Qualcomm shares climbed roughly 3% in afternoon trading as investors awaited results due after the close
- The stock held up well despite a slump in the chip sector, where the iShares Semiconductor ETF dropped over 3%
- Traders await fresh guidance on handset demand and profit margins
Qualcomm Incorporated’s shares climbed 2.8% to $151.33 in Wednesday afternoon trading, ahead of the chipmaker’s quarterly earnings release after the market close.
The San Diego-based firm plans to report its fiscal first-quarter earnings after the market closes, with a conference call set for 4:45 p.m. ET. (Nasdaq)
Wall Street is forecasting about $12.13 billion in revenue and adjusted EPS of $3.39 for Qualcomm’s December quarter, Barron’s reported. Analysts are also eyeing $11.11 billion in revenue and $2.90 per share for the current quarter. Bernstein’s Stacy Rasgon noted Qualcomm has “remained out of favor amid [a] general distaste of smartphones,” yet he maintains an Outperform rating and a $200 price target, highlighting the company’s valuation and what he calls an “objectively strong product portfolio.” (Barron’s)
The move bucked the wider chip sector, where the iShares Semiconductor ETF dropped roughly 3.6%. Nvidia slipped 2.6%, and Broadcom tumbled around 4.1% as of the latest update.
Qualcomm slipped 3.6% on Tuesday to close at $147.18, remaining about 29% shy of its 52-week peak of $205.95 reached in late October, according to MarketWatch. Trading volume also surged above its 50-day average. (MarketWatch)
Qualcomm sells chips for smartphones and other gadgets, while also collecting royalties from its wireless patents. The report serves as a barometer for handset demand, where even minor changes in unit sales and pricing can significantly impact the results.
Investors will dig into the company’s guidance — management’s forecast — for the March quarter and beyond. They’ll also tune in for shifts in tone on licensing trends and the contribution of growth from newer sectors like PCs and cars.
Guidance usually shakes the stock more than the actual quarterly results. Investors focus on it to gauge if the coming months will beat or miss the expectations already priced in.
The risk for bulls is clear. Qualcomm could trigger a quick pullback if it signals weaker handset orders, flags margin squeezes from rising component costs, or issues cautious guidance.
Qualcomm’s earnings report drops after the close, followed by the 4:45 p.m. ET call. Traders are focused on clear signals about demand and what lies ahead for spring.
