Equity Profile

QCOM

QUALCOMM Incorporated

Information TechnologySemiconductors$173.1B

Jul29Wed

Pre-Earnings Brief

UpcomingQ3-2026After Close5:00 PM EDT

Company Snapshot

QUALCOMM Incorporated (QCOM) is a leading semiconductor company that designs and manufactures chips for mobile devices and other technology. As a key player in the Information Technology sector, it benefits from trends like 5G connectivity and the growing demand for mobile computing.

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a crucial indicator of profitability and helps investors gauge the company's financial health.

Not available

Revenue Growth

Revenue growth reflects the company's ability to expand its market share and capitalize on new technologies.

Not available

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

QCOM Q3-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

100%

Avg EPS Surprise

+32.15%

Avg Stock Reaction

+2.83%

Last Quarter Recap

In Q2-2026, QUALCOMM reported an EPS of $2.65, significantly beating expectations by nearly 40%. The stock reacted positively, rising 4% the following day.

Management Promises & Guidance

Focus on expanding 5G technology adoption.
Continued investment in research and development.
Commitment to enhancing partnerships with device manufacturers.

Expectations

Wall Street Expectations

Overall, expectations are mixed as analysts await clarity on revenue growth and the impact of 5G chip sales. The stock has shown resilience following strong earnings in previous quarters.

Bull Case

If QCOM continues its trend of beating EPS estimates, it could signal robust demand for its products, particularly in the 5G space, leading to a positive stock reaction.

Bear Case

Concerns about supply chain issues or slower-than-expected 5G adoption could lead to disappointing results, negatively impacting investor sentiment.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the revenue growth rate for 5G chip sales this quarter?

This metric is crucial as it reflects the company's ability to capitalize on the growing demand for 5G technology.

How does management plan to address potential supply chain challenges?

Supply chain issues could significantly impact production and sales, making this a key area of focus for investors.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate the impact of new partnerships in the 5G space, which could drive higher-than-expected sales.

Supporting Evidence

QCOM has consistently beaten EPS estimates, indicating stronger operational performance.

The options market is pricing in a significant move, suggesting traders expect volatility that may not align with consensus expectations.

Key Risk

If 5G chip sales exceed projections significantly, it could challenge the current cautious sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's results will hinge on the company's ability to maintain growth in a competitive landscape.

Bull Confirmed If

A revenue growth rate of over 15% year-over-year would confirm the bullish outlook.

Bear Confirmed If

Any revenue growth below 5% would raise concerns about demand and market position.

Pre-Earnings Positioning

Options Market

Implied Move

±17.14%

Historical Avg

±3.3%

Pricing rich

The options market is pricing in a significant potential move, suggesting that traders expect volatility around the earnings announcement.

Options are pricing ±17.1% while QCOM has averaged ±3.3% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.8%

30d HV

91.0%

Calls (6.1M)P/C Ratio: 0.81Puts (3.1M)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Semiconductors

n=30

Fade rate: 4 of 9 (44%)

This setup has occurred 30 times across Information Technology in the last 2 years. 4 of 9 faded and 5 held — no strong directional bias after the initial reaction. The average absolute 1-day move is 4.4%, with a raw directional average of -0.5% (modestly negative historical bias).

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If QCOM beats expectations, history suggests a potential stock increase of around 2.83%, confirming strong demand for its products.

In-Line / Cautious

If results are in line with expectations but management's commentary is cautious, the stock may see muted movement as investors reassess future growth.

Miss

A miss could lead to a decline, with history suggesting an average drop of around 3.30% following disappointing results.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on 5G chip sales and market demand.
2Management's strategy for navigating supply chain challenges.
3Any new partnerships or collaborations in the technology space.
4Insights into future revenue guidance and growth expectations.
5Comments on competitive pressures and market positioning.

See the full picture

AI-powered briefs, options data, and 20 quarters of history — everything you need before earnings.

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Company Snapshot

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a crucial indicator of profitability and helps investors gauge the company's financial health.

Not available

Revenue Growth

Revenue growth reflects the company's ability to expand its market share and capitalize on new technologies.

Not available

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

QCOM Q3-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

100%

Avg EPS Surprise

+32.15%

Avg Stock Reaction

+2.83%

Last Quarter Recap

In Q2-2026, QUALCOMM reported an EPS of $2.65, significantly beating expectations by nearly 40%. The stock reacted positively, rising 4% the following day.

Management Promises & Guidance

Focus on expanding 5G technology adoption.
Continued investment in research and development.
Commitment to enhancing partnerships with device manufacturers.

Expectations

Wall Street Expectations

Overall, expectations are mixed as analysts await clarity on revenue growth and the impact of 5G chip sales. The stock has shown resilience following strong earnings in previous quarters.

Bull Case

If QCOM continues its trend of beating EPS estimates, it could signal robust demand for its products, particularly in the 5G space, leading to a positive stock reaction.

Bear Case

Concerns about supply chain issues or slower-than-expected 5G adoption could lead to disappointing results, negatively impacting investor sentiment.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the revenue growth rate for 5G chip sales this quarter?

This metric is crucial as it reflects the company's ability to capitalize on the growing demand for 5G technology.

How does management plan to address potential supply chain challenges?

Supply chain issues could significantly impact production and sales, making this a key area of focus for investors.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate the impact of new partnerships in the 5G space, which could drive higher-than-expected sales.

Supporting Evidence

QCOM has consistently beaten EPS estimates, indicating stronger operational performance.

The options market is pricing in a significant move, suggesting traders expect volatility that may not align with consensus expectations.

Key Risk

If 5G chip sales exceed projections significantly, it could challenge the current cautious sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's results will hinge on the company's ability to maintain growth in a competitive landscape.

Bull Confirmed If

A revenue growth rate of over 15% year-over-year would confirm the bullish outlook.

Bear Confirmed If

Any revenue growth below 5% would raise concerns about demand and market position.

Pre-Earnings Positioning

Options Market

Implied Move

±17.14%

Historical Avg

±3.3%

Pricing rich

The options market is pricing in a significant potential move, suggesting that traders expect volatility around the earnings announcement.

Options are pricing ±17.1% while QCOM has averaged ±3.3% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.8%

30d HV

91.0%

Calls (6.1M)P/C Ratio: 0.81Puts (3.1M)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Semiconductors

n=30

Fade rate: 4 of 9 (44%)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If QCOM beats expectations, history suggests a potential stock increase of around 2.83%, confirming strong demand for its products.

In-Line / Cautious

If results are in line with expectations but management's commentary is cautious, the stock may see muted movement as investors reassess future growth.

Miss

A miss could lead to a decline, with history suggesting an average drop of around 3.30% following disappointing results.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on 5G chip sales and market demand.
2Management's strategy for navigating supply chain challenges.
3Any new partnerships or collaborations in the technology space.
4Insights into future revenue guidance and growth expectations.
5Comments on competitive pressures and market positioning.