New York, Jan 15, 2026, 14:09 EST — Regular session
- Qualcomm shares slipped roughly 1.6% in afternoon trading, underperforming the wider chip rally.
- Traders digested a new U.S. tariff on select high-end AI chips alongside an optimistic forecast from TSMC.
- Qualcomm is set to report its next earnings on Feb. 4.
Shares of Qualcomm (QCOM.O) slipped $2.65, or 1.6%, to $161.89 in afternoon trading Thursday, after an earlier range between $167.30 and $161.05.
The stock’s drop drew attention as chip stocks have been reacting sharply to policy news and initial earnings reports, with investors quick to punish those linked to weaker end markets.
The spotlight now shifts to Qualcomm’s upcoming fiscal first-quarter earnings call set for Feb. 4.
Taiwan Semiconductor Manufacturing Co’s optimistic growth outlook boosted several major chip stocks, driving parts of the market up after two days of losses.
Washington’s trade policy remained in focus. The White House slapped a 25% tariff on imports of certain AI chips following a Section 232 investigation — a law permitting tariffs for national security reasons. Qualcomm dipped a bit in after-hours trading after the news, Reuters reported.
Analyst chatter picked up as RBC Capital kicked off coverage of Qualcomm, assigning a “sector perform” rating. This was detailed in a Nasdaq report. Nasdaq
Qualcomm operates in a distinct space from pure-play AI leaders. While it’s primarily recognized for phone chips and wireless patents, the company has been pushing growth in sectors like automotive and PCs.
On Wednesday, shares dropped 0.45%, diverging notably from several chip peers that moved differently—a sign of how stock-specific flows have dominated early January trading.
One risk: while the tariff order is currently narrowly focused, the fact sheet hints at the possibility of wider measures down the line. Such policy shocks could ripple through valuations far beyond the chips explicitly targeted.
Investors are now eyeing Qualcomm’s guidance set for Feb. 4, searching for any changes in demand signals. Tariff details and the chip rally’s momentum will likely keep short-term trading volatile.
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