Qualcomm Enters Crucial Earnings Report Amid Significant Stock Decline
Qualcomm (QCOM) is preparing for its Q3 earnings report on July 29, following a significant stock decline that has left the company's shares down nearly 35% from their peak. The stock closed at $170.04 as of July 27 and remains below half of its May high of $259.92. Despite an ambitious June Investor Day where Qualcomm raised its non-handset revenue target for fiscal 2029 to $40 billion, the market has yet to reward this strategic shift. The company is expected to report Q3 earnings with a Zacks consensus estimate calling for $9.71 billion in revenue and adjusted EPS of $2.22. Qualcomm's own guidance ranges from $9.2 billion to $10.0 billion in total revenues, with non-GAAP EPS between $2.10 and $2.30. The company has consistently beaten estimates over the past four quarters. Investors are closely watching for clarity on future momentum, particularly regarding data center revenue growth and whether Qualcomm can maintain its ambitious targets amid challenges such as pricing pressure in Android markets and supply constraints.
Tickers: $QCOM
Topics: earnings expectations market momentum stock performance