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 technologies. As a key player in the Information Technology sector, its products are crucial for the growing demand in areas like 5G connectivity and the Internet of Things (IoT).

Key Metrics to Watch

EPS

Earnings per share is a critical measure of profitability and will indicate how well the company is managing costs and generating revenue.

N/A

Revenue Growth

Revenue growth reflects the company's ability to expand its market share and adapt to changing technology demands.

N/A

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 exceeding expectations by nearly 40%. The stock reacted positively, gaining 4% the following day.

Management Promises & Guidance

Continued investment in 5G technology.
Focus on expanding IoT product lines.
Commitment to improving operational efficiency.

Expectations

Wall Street Expectations

Analysts are cautiously optimistic about Qualcomm's upcoming earnings, especially given its strong performance in previous quarters. However, uncertainty remains regarding revenue growth in the competitive semiconductor market.

Bull Case

If Qualcomm continues to exceed EPS expectations and shows strong growth in 5G chip sales, it could lead to significant stock appreciation.

Bear Case

Conversely, if the company fails to meet revenue expectations or shows signs of slowing growth, it could lead to a sharp decline in stock price.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will the EPS be for Q3-2026, and how does it compare to previous quarters?

Given Qualcomm's strong EPS performance in recent quarters, any deviation could significantly impact investor sentiment.

How are 5G chip sales trending, and what guidance can be provided for future growth?

5G sales are crucial for Qualcomm's growth strategy, and insights here will help investors gauge future revenue potential.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate Qualcomm's ability to capitalize on the 5G market, as recent industry trends suggest stronger demand than anticipated.

Supporting Evidence

Qualcomm's consistent EPS beats indicate robust operational performance.

Options pricing suggests a larger move than historical averages, indicating investor uncertainty.

Recent trends in mobile technology adoption may not be fully reflected in current estimates.

Key Risk

If 5G chip sales exceed expectations, it could significantly alter the market's outlook on Qualcomm's growth potential.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is weighing Qualcomm's ability to sustain growth in a competitive semiconductor landscape, particularly in 5G technology.

Bull Confirmed If

An EPS of $3.00 or higher with strong guidance on 5G chip sales would confirm the bull case.

Bear Confirmed If

An EPS below $2.50 or weak guidance on revenue growth would confirm the bear case.

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, indicating that investors 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)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Qualcomm beats expectations, history suggests the stock could rise by about 2.83%, confirming a strong growth trajectory.

In-Line / Cautious

If results are in line but management provides cautious commentary, the stock may see limited movement as investors reassess future growth.

Miss

A miss could lead to a decline, with historical data suggesting a potential drop of around 3.30%.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on 5G chip sales and market demand.
2Any new partnerships or contracts that could drive revenue.
3Management's outlook on operational efficiency improvements.
4Trends in IoT product sales and their impact on overall revenue.
5Guidance on future EPS expectations and revenue growth.

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

EPS

Earnings per share is a critical measure of profitability and will indicate how well the company is managing costs and generating revenue.

N/A

Revenue Growth

Revenue growth reflects the company's ability to expand its market share and adapt to changing technology demands.

N/A

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 exceeding expectations by nearly 40%. The stock reacted positively, gaining 4% the following day.

Management Promises & Guidance

Continued investment in 5G technology.
Focus on expanding IoT product lines.
Commitment to improving operational efficiency.

Expectations

Wall Street Expectations

Bull Case

If Qualcomm continues to exceed EPS expectations and shows strong growth in 5G chip sales, it could lead to significant stock appreciation.

Bear Case

Conversely, if the company fails to meet revenue expectations or shows signs of slowing growth, it could lead to a sharp decline in stock price.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will the EPS be for Q3-2026, and how does it compare to previous quarters?

Given Qualcomm's strong EPS performance in recent quarters, any deviation could significantly impact investor sentiment.

How are 5G chip sales trending, and what guidance can be provided for future growth?

5G sales are crucial for Qualcomm's growth strategy, and insights here will help investors gauge future revenue potential.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate Qualcomm's ability to capitalize on the 5G market, as recent industry trends suggest stronger demand than anticipated.

Supporting Evidence

Qualcomm's consistent EPS beats indicate robust operational performance.

Options pricing suggests a larger move than historical averages, indicating investor uncertainty.

Recent trends in mobile technology adoption may not be fully reflected in current estimates.

Key Risk

If 5G chip sales exceed expectations, it could significantly alter the market's outlook on Qualcomm's growth potential.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is weighing Qualcomm's ability to sustain growth in a competitive semiconductor landscape, particularly in 5G technology.

Bull Confirmed If

An EPS of $3.00 or higher with strong guidance on 5G chip sales would confirm the bull case.

Bear Confirmed If

An EPS below $2.50 or weak guidance on revenue growth would confirm the bear case.

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, indicating that investors 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)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Qualcomm beats expectations, history suggests the stock could rise by about 2.83%, confirming a strong growth trajectory.

In-Line / Cautious

If results are in line but management provides cautious commentary, the stock may see limited movement as investors reassess future growth.

Miss

A miss could lead to a decline, with historical data suggesting a potential drop of around 3.30%.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on 5G chip sales and market demand.
2Any new partnerships or contracts that could drive revenue.
3Management's outlook on operational efficiency improvements.
4Trends in IoT product sales and their impact on overall revenue.
5Guidance on future EPS expectations and revenue growth.