Qualcomm is expected to report Q1 2026 revenue of approximately $10.62 billion and EPS of $2.57, with the stock currently trading at $150.26 against an average analyst price target of $158.25.
Investors are primarily focused on the company’s automotive revenue growth as a key indicator of its successful diversification away from Apple's modem business.
Recent reports of a potential partnership with OpenAI for smartphone processors have provided a late-quarter boost to sentiment, even as the company faces headwinds from a scheduled 20% reduction in iPhone modem supply. Management’s guidance will be critical in determining if newer AI-edge segments can sustainably offset handset demand volatility.