QCOM stock surges over 8% today ahead of April 29 earnings: Can Qualcomm extend the semiconductor stocks rally fueled by Intel’s strong quarter?

QCOM stock today: Qualcomm Inc (QCOM) is seeing a sharp rally, with shares jumping more than 8% in early trading. The move reflects renewed optimism and it’s also happening just days before a key earnings report that could decide whether this momentum holds.

QCOM Stock Today Jumps As Intel Earnings Boost Lifts Semiconductor Stocks

A big part of the boost is coming from Intel Corp, which posted a much stronger-than-expected quarter. The company beat earnings and revenue estimates by a wide margin, signaling improving demand across the semiconductor industry, as per a Benzinga report.

That matters for Qualcomm. When the broader chip ecosystem strengthens, it tends to lift sentiment across multiple companies, even those focused on different markets.


Intel also pointed to strong growth in artificial intelligence, with AI-related revenue now making up a large portion of its business.

For Qualcomm, this is a positive signal. Strong investment in AI infrastructure often supports demand in areas like mobile, automotive, and edge computing, segments where Qualcomm is deeply involved. When enterprise and cloud spending rise, it usually reflects broader health in the chip sector.

Qualcomm April 29 Earnings: What QCOM Investors Should Watch

Despite the rally, the bigger test is still ahead. Qualcomm is set to report fiscal second-quarter earnings on April 29.

The company is guiding for revenue between $10.2 billion and $11 billion, with adjusted earnings per share in the $2.45 to $2.65 range, as per a Ts2.Tech report. Handset chips are expected to bring in around $6 billion, showing just how central smartphones remain to the business.

Why Smartphone Exposure Still Matters for QCOM

That reliance is also the main concern. In the previous quarter, handset chips made up 73% of Qualcomm’s chip-division revenue.

Other segments are growing, automotive generated $1.1 billion and Internet of Things brought in $1.7 billion—but they are still not large enough to offset softness in smartphones.

Qualcomm's Memory Constraints: The Hidden Growth Challenge

Qualcomm CEO Cristiano Amon has pointed to memory shortages as a key issue, as per the Ts2.Tech report. These constraints are limiting production, even as demand for processors remains steady, and could continue to impact performance for several quarters.

QCOM Stock Outlook: Can Qualcomm Sustain Its Rally After Earnings

Some analysts remain skeptical. JPMorgan’s Samik Chatterjee recently downgraded the stock and lowered its price target, citing ongoing smartphone weakness and uncertainty around Qualcomm’s push into data centers, as reported by Ts2.Tech.

Competition in that space is also intense, with companies like Nvidia and Arm Holdings already gaining ground.

Technically, Qualcomm is showing signs of recovery. The stock has moved above short-term trend levels, and momentum indicators suggest buyers are returning.

FAQs

How much has Qualcomm stock gained?
Shares jumped more than 7% in early trading during the latest rally.

When is Qualcomm’s next earnings report?
The company is set to report earnings on April 29.