New York, Jan 13, 2026, 19:47 (ET) — After-hours
- Qualcomm shares dropped roughly 2.4% Tuesday, marking the third consecutive day of losses.
- The stock trailed behind chip rivals, with Nvidia and Broadcom climbing and Intel surging.
- Wall Street is eyeing Qualcomm’s early-February earnings and guidance as the next key catalyst.
Qualcomm Incorporated shares dropped roughly 2.4% to $165.29 in after-hours trading Tuesday, extending the recent streak of declines for the stock.
The pullback comes as investors adjust their bets on chip stocks tied heavily to handsets, a sector known for rapid demand shifts and volatile pricing. Qualcomm, meanwhile, faces pressure to demonstrate its growth extends beyond phones, but the market shows little tolerance when that story falters.
Qualcomm will hold its fiscal first-quarter earnings call on Feb. 4.
During the regular session, the stock dropped 2.35%, marking its third consecutive day of losses, despite the broader market slipping lower. Trading volume climbed past its 50-day average, according to MarketWatch data.
Mizuho’s Vijay Rakesh keeps a Neutral rating on the shares with a $175 price target, expecting the stock to hit that level despite cuts to revenue and earnings forecasts for fiscal 2026 and 2027. In his latest note, he pointed out that “handset exposure still caps upside,” even as non-handset segments gain momentum. Insider Monkey
Qualcomm’s chip business remains tied closely to smartphones, making that handset focus crucial. The stock often moves based on the tone set for the next quarter, sometimes more than the actual results. Even a slight tweak in guidance can hit the shares harder than a minor earnings miss.
Tuesday’s action revealed a clear divide within semiconductors. Nvidia and Broadcom pushed higher, Qualcomm struggled, and Intel made a sharp jump. Traders are left sorting out which chip trends still have legs and which are falling out of favor.
Investors will be watching the next session closely to see if selling pressure slows or if funds continue pulling away from handset-linked stocks. New analyst downgrades or changes in price targets could fuel more volatility in a stock already driven by sentiment swings.
The downside is clear: if handset demand weakens beyond projections, or if newer segments such as automotive and connected devices don’t ramp up quickly enough, Qualcomm could struggle to meet guidance. The stock has proven it can fall sharply whenever investors sense growth is faltering.
Feb. 4 is the next big date, as Qualcomm will release its earnings and provide an updated outlook on the call.
