Crypto World
Qualcomm (QCOM) Stock: What Wall Street Expects from Earnings Today?
TLDR
- Qualcomm reports December quarter earnings today with Wall Street forecasting $12.13 billion in revenue and $3.39 EPS
- The stock trades down 15% year-to-date, creating a 44% valuation discount compared to the S&P 500
- Bernstein analyst keeps Outperform rating with $200 target despite smartphone market headwinds
- Options pricing indicates approximately 6% expected move with market bias score at -1
- Critical support sits at $146-$148 while resistance holds at $150-$152
Qualcomm unveils its December quarter financial results after today’s closing bell. Analysts project revenue of $12.13 billion with adjusted earnings per share reaching $3.39.
The mobile processor and 5G chipset manufacturer has struggled in 2026. Shares have fallen 15% while the broader semiconductor sector rallied 13%.
This underperformance reflects growing concerns about smartphone demand. Rising memory prices threaten to crimp consumer device purchases throughout the year.
Yet not everyone shares this pessimistic outlook. Bernstein analyst Stacy Rasgon maintained his Outperform rating Monday.
His $200 price target suggests substantial upside from current levels. Rasgon believes the market is overlooking Qualcomm’s fundamental strengths.
“We still believe there is value to be had under the surface [with its] objectively strong product portfolio,” the analyst wrote. He acknowledged the “general distaste of smartphones” currently weighing on sentiment.
Valuation Gap Creates Opportunity
The numbers tell an interesting story. Qualcomm’s price-to-forward earnings ratio sits 44% below the S&P 500 average.
That’s a massive discount for a market leader in wireless technology. The company dominates mobile processors and 5G chipsets globally.
Wall Street expects the current quarter to deliver $11.11 billion in revenue with $2.90 EPS. These forward estimates matter just as much as December’s results.
Options traders are pricing in roughly 6% movement following the announcement. This implied volatility doesn’t favor either direction, just expects action.
Price Action Shows Shifting Dynamics
Recent trading patterns reveal something important. Selling pressure has weakened over the past several sessions.
Downside attempts keep stalling without sustained momentum. The stock has transitioned from steady decline to choppy range-bound movement.
This shift suggests sellers are losing control. But it doesn’t confirm buyers are ready to step in aggressively either.
Key support rests between $146 and $148. Holding this zone keeps the stabilization process alive.
Breaking below $146 would hand control back to sellers. That could trigger accelerated losses.
Resistance appears at $150 to $152. Failed rallies here would confirm range behavior rather than trend reversal.
The market bias score registers -1 on a scale from -10 to +10. This reflects lingering weakness alongside fading downside momentum.
Scores near zero indicate low conviction. Neither bulls nor bears have established control heading into the report.
Qualcomm continues to trade near the bottom of its post-earnings range. The corrective phase that began after last quarter’s results remains intact.
Tonight’s report will clarify whether memory price concerns are justified. Or if the market has overreacted to temporary headwinds.
The company’s product lineup remains competitive despite market skepticism. Execution and guidance will determine the stock’s next move.
