Overview
- Qualcomm is set to report Q3 FY26 results after the market close on Wednesday, July 29, a release investors expect to clarify near-term demand trends.
- Wall Street consensus calls for about $9.69 billion in revenue and roughly $2.24 in EPS, which would mark year‑over‑year declines and reflect caution about handset sales.
- Shares have fallen about 35–36% from their late‑May peak and options markets price an implied post‑earnings move near 9%, signaling expectations of sizable volatility.
- The company says higher memory and component costs plus an inventory correction at China Android OEMs have depressed handset revenue, and management has said handset weakness should trough in Q3 with sequential recovery to follow.
- Qualcomm is pursuing a multi‑year pivot into data center, AI and automotive while returning capital via dividends and a new $20 billion buyback, and investors will judge on guidance whether that shift can offset near‑term handset pressure and reprice the stock.