Semiconductor developer Qualcomm (QCOM) will release its first-quarter fiscal 2026 results after market close today, February 4. Analysts expect declining earnings and modestly rising revenues, which could have a negative effect on the company’s stock. In the last year, shares have been down over 13%, with each month seeing a downtick in price. There is an emerging idea amongst some analysts that the recent decline could be seen as a buy opportunity, especially if Q1 2026 earnings go well.
Wall Street expects Qualcomm to post adjusted earnings per share of $3.39, lower than the prior year period’s figure of $3.41. Sales are forecast to rise 3.8% year-over-year to $12.12 billion. Notably, QCOM has beaten earnings expectations for eight straight quarters. Investors will compare results against the company’s guidance. In its Q4 FY25 earnings, Qualcomm projected Q1 revenues of $11.8 to $12.6 billion, QCT projected between $10.3 and $10.9 billion, and adjusted EPS of $3.30–$3.50.
Should Qualcomm (QCOM) outperform earnings projections, the stock could finally start its rebound. The stock remains highly reactive to handset market cues, so the company’s guidance for Q2 is expected to carry more weight than the actual results. An outperformance plus better guidance for Q2 could help flip QCOM.
Cantor Fitzgerald’s C.J. Muse lowered his price target on Qualcomm to $160 from $185, maintaining a Neutral rating ahead of the chipmaker’s quarterly report. Cantor anticipates Qualcomm will post solid December-quarter results but warns of a weaker outlook afterward. The firm expects March-quarter guidance to come in “modestly below consensus” and June-quarter guidance to be “well below consensus.”