Qualcomm (NASDAQ:QCOM) Updates Q3 2026 Earnings Guidance

Key Points

• Q3 2026 guidance: Qualcomm set EPS guidance of $2.10–$2.30 (vs. $2.30 consensus) and revenue guidance of $9.2B–$10.0B (below the $10.2B consensus), indicating a softer near‑term outlook.
• Quarterly results beat estimates — Qualcomm reported $2.65 EPS and $10.60B revenue — and boosted shareholder returns by raising the quarterly dividend to $0.92 and authorizing a $20 billion share buyback.
• Shares rose intraday to $156 amid reports of an OpenAI collaboration, but analyst coverage is mixed (consensus rating: Hold, average target $158.25), underscoring investor focus on Qualcomm's AI roadmap versus near‑term handset and supply headwinds.

Qualcomm (NASDAQ:QCOM - Get Free Report) updated its third quarter 2026 earnings guidance on Wednesday. The company provided earnings per share guidance of 2.100-2.300 for the period, compared to the consensus earnings per share estimate of 2.300. The company issued revenue guidance of $9.2 billion-$10.0 billion, compared to the consensus revenue estimate of $10.2 billion.

Analyst Upgrades and Downgrades

QCOM has been the topic of several recent research reports. Barclays assumed coverage on Qualcomm in a research report on Wednesday, April 22nd. They issued an "underweight" rating and a $130.00 price objective on the stock. Citigroup reiterated a "neutral" rating on shares of Qualcomm in a research report on Thursday, January 15th. Rosenblatt Securities reduced their target price on Qualcomm from $225.00 to $190.00 and set a "buy" rating on the stock in a research report on Thursday, February 5th. The Goldman Sachs Group assumed coverage on Qualcomm in a research report on Monday, March 30th. They set a "neutral" rating and a $135.00 target price on the stock. Finally, UBS Group reiterated a "neutral" rating on shares of Qualcomm in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, thirteen have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $158.25.

Qualcomm Stock Performance

Shares of QCOM traded up $6.00 during mid-day trading on Wednesday, hitting $156.00. The stock had a trading volume of 28,759,079 shares, compared to its average volume of 11,898,665. The company has a market cap of $166.45 billion, a PE ratio of 32.23 and a beta of 1.28. The company's fifty day simple moving average is $134.67 and its two-hundred day simple moving average is $155.16. The company has a quick ratio of 1.83, a current ratio of 2.51 and a debt-to-equity ratio of 0.64. Qualcomm has a fifty-two week low of $121.99 and a fifty-two week high of $205.95.

Qualcomm (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The wireless technology company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.58 by $0.07. The business had revenue of $10.60 billion for the quarter, compared to the consensus estimate of $10.59 billion. Qualcomm had a return on equity of 44.09% and a net margin of 11.96%.Qualcomm has set its Q3 2026 guidance at 2.100-2.300 EPS. On average, equities analysts expect that Qualcomm will post 8.21 earnings per share for the current year.

Qualcomm Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 4th will be given a dividend of $0.92 per share. This is a boost from Qualcomm's previous quarterly dividend of $0.89. The ex-dividend date is Thursday, June 4th. This represents a $3.68 dividend on an annualized basis and a yield of 2.4%. Qualcomm's payout ratio is presently 73.55%.

Qualcomm declared that its Board of Directors has initiated a share buyback program on Tuesday, March 17th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the wireless technology company to buy up to 14.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board believes its stock is undervalued.

Insiders Place Their Bets

In other news, EVP Akash J. Palkhiwala sold 2,500 shares of the business's stock in a transaction on Monday, April 13th. The stock was sold at an average price of $130.34, for a total transaction of $325,850.00. Following the sale, the executive vice president directly owned 30,684 shares of the company's stock, valued at $3,999,352.56. The trade was a 7.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Heather S. Ace sold 3,200 shares of the business's stock in a transaction on Monday, February 9th. The stock was sold at an average price of $137.00, for a total value of $438,400.00. Following the sale, the executive vice president directly owned 16,393 shares in the company, valued at $2,245,841. This trade represents a 16.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 9,118 shares of company stock worth $1,233,705 in the last three months. Company insiders own 0.05% of the company's stock.

Key Qualcomm News

Here are the key news stories impacting Qualcomm this week:

• Positive Sentiment: Reports that Qualcomm is working with OpenAI (and MediaTek) to develop AI-native smartphone processors for mass‑market devices (targeting a 2028 timeline) amplify Qualcomm’s long‑term TAM for on‑device AI and mobile AI compute. Qualcomm Eyes AI Native Smartphones
• Positive Sentiment: Analyst reports and media coverage claiming an OpenAI collaboration pushed bullish sentiment and drove premarket buying, reinforcing hopes that Qualcomm can leverage AI partnerships to offset handset headwinds. Qualcomm Shares Jump Premarket
• Neutral Sentiment: Qualcomm posted its official Q2 fiscal earnings release on the company IR site and filed the Form 8‑K; investors will parse the release and guidance for signs of handset and AI momentum. Earnings Release Available
• Neutral Sentiment: Pre‑earnings previews highlight key items investors will watch tonight (revenue mix, handset OEM trends, memory-related inventory dynamics, and the company’s Q2 guidance range). Q2 Pre‑Earnings Brief
• Neutral Sentiment: Broader macro commentary points to AI investment as a material growth driver for the sector — a supportive backdrop if Qualcomm can convert partnerships into product wins. AI Investment Boosts Growth
• Negative Sentiment: Analysts and articles warn a memory component shortage and related supply dynamics could pressure Q2 revenue — a short‑term headwind that could show up in the release and damp investor reaction. Memory Shortage Pressures Q2
• Negative Sentiment: Erste Group trimmed its FY2026–FY2027 EPS forecasts for Qualcomm, signaling some analyst caution on near‑term earnings power and giving investors a lower bar for guidance. Erste Lowers Estimates

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd grew its stake in Qualcomm by 17,000.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 171 shares of the wireless technology company's stock valued at $29,000 after purchasing an additional 170 shares in the last quarter. Birchwood Financial Partners Inc. purchased a new position in Qualcomm in the fourth quarter valued at about $31,000. IFC & Insurance Marketing Inc. purchased a new position in Qualcomm in the fourth quarter valued at about $38,000. Swiss RE Ltd. purchased a new position in Qualcomm in the fourth quarter valued at about $47,000. Finally, Litman Gregory Wealth Management LLC purchased a new position in Qualcomm in the fourth quarter valued at about $58,000. Hedge funds and other institutional investors own 74.35% of the company's stock.

Qualcomm Company Profile

Qualcomm Incorporated is a global semiconductor and telecommunications equipment company headquartered in San Diego, California. Founded in 1985, the company is known for its development of wireless technologies and for playing a central role in the evolution of digital cellular standards, including CDMA and subsequent generations of mobile standards. Qualcomm’s business combines the design and sale of semiconductor products with a patent licensing program for wireless technologies and related intellectual property.

The company’s product portfolio includes system-on-chip (SoC) platforms marketed under the Snapdragon brand, cellular modem and RF front-end components, connectivity solutions for Wi‑Fi and Bluetooth, and processors and platforms aimed at automotive, IoT, networking and edge-computing applications.

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