Qualcomm (QCOM) Stock: What Wall Street Expects from Earnings Wednesday
TLDR
- Qualcomm reports Q3 FY26 earnings on Wednesday, July 29, after the bell
- Revenue is expected to fall 6.5% year-on-year to $9.69 billion; EPS projected down 19% to $2.24
- QCOM stock is down 10% over the past month, trading at $170.08 vs. average analyst price target of $221.23
- Options traders are pricing in a 9.34% move in either direction following the report
- Wall Street’s consensus is Hold, with 17 Holds, 10 Buys, and 3 Sells
Qualcomm heads into Wednesday’s earnings report under pressure. The stock is down 10% over the past month and flat year-to-date, with analysts expecting another tough quarter.
Wall Street forecasts Q3 FY26 revenue of $9.69 billion, a 6.5% drop year-on-year. That’s a sharp reversal from the 10.4% growth Qualcomm posted in the same quarter a year ago. EPS is expected to come in at $2.24, down 19% from last year. QCOM is currently trading at $170.08.
Higher memory costs have weighed on smartphone demand, Qualcomm’s core end market. That headwind is the main reason analysts are cautious heading into the print.
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