"After shares dropped 14.7% over the past four weeks to $151.53, investors are watching whether the chipmaker can sustain momentum despite mounting headwinds in its core handset business. Pressure Building on Multiple Fronts Cantor Fitzgerald cut its price target to $160 from $185 on February 4, citing conservative guidance driven by Apple's reduced modem share, Samsung's internal modem transition, and a declining Chinese handset market."
"Management highlighted 18% growth in non-Apple QCT revenues during the fiscal fourth quarter, but that diversification faces headwinds as major customers shift strategies. What I'm Watching Beyond the Print Qualcomm has beaten earnings estimates for eight consecutive quarters, with surprises ranging from 1% to 14%. Prediction markets price an 88% probability the company beats the $3.39 EPS consensus, reflecting confidence despite recent downgrades."
Qualcomm reports first-quarter fiscal 2026 results after the market close. Shares fell 14.7% over the past month to $151.53 amid mounting handset-business headwinds. Analysts lowered price targets, citing Apple and Samsung modem transitions and a weakening Chinese handset market, with a projected 4% global handset decline for 2026. Handsets remain the largest revenue driver, with QCT revenue of $9.82 billion last quarter and 18% growth in non-Apple QCT revenues. Automotive and IoT delivered strong growth, combining for 27% full-fiscal-2025 growth and offering potential offset to handset weakness. Markets assign high probability to an EPS beat.
Read at 24/7 Wall St.
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