- Prev close
- $165.41
- Day range
- $159.11 – $167.47
- From 52-wk high
- -36.4%
- Next earnings
- in 87 days
QUALCOMM’s 9.5% drop looks stock-specific rather than market-driven: the S&P 500 rose 1.7% and the Nasdaq 100 rose 1.0% while the company had already flagged 8.4% quarterly revenue contraction and weaker margin outlook.
QCOM
QUALCOMM INC
As of Nov 5, 2026
34/100
Deserves your attentionHealth ScoreWhy it moved
The move looks stock-specific, not a market washout: QCOM fell 9.5% while the S&P 500 rose 9.5% and the Nasdaq 100 rose 9.5%. The company also had a clear earnings-related overhang in the facts: revenue fell 9.5% year on year to $10.32 billion, and management warned on weaker margins ahead in its chip-design segment. That combination fits a post-earnings de-rating rather than a broad risk-off day.
Normal volatility?
This is more than ordinary noise because the move sits against soft top-line trends and a demanding valuation. Revenue is -2.6% YoY on a TTM basis and -8.4% YoY in the latest quarter, even though gross margin is +53.1%, operating margin is +19.9%, and net margin is +31.6%. The stock trades at PE 11.9 and forward PE 16.4, but the PEG is 7.41 — PEG is P/E divided by earnings growth, so a high figure means growth is already priced richly when growth is positive. Beta is 1.80, which also says the name is naturally more volatile than the market. In that setting, a sharp decline is not just routine fluctuation; it reflects a rerating around slowing revenue and margin risk.
Earnings preview
The next earnings date is not available this period, so I cannot place a calendar date on the report. The last update gave revenue ahead of expectations, with calendar Q3 2026 (fiscal Q4 2026) sales at $10.32 billion versus analysts’ consensus, and next-quarter revenue guidance at $10.8 billion at the midpoint, 2.6% above analysts’ consensus estimates; non-GAAP profit of $2.17 per share was in line with analysts’ consensus estimates. The market will be focused on three items: whether the phone-chip weakness described as a 26% drop is stabilizing, whether the car and data-center mix can offset the -8.4% latest-quarter revenue decline, and whether the warned-about margin pressure in chip design is temporary or persistent. The recent reaction profile in the facts is negative: the stock 'drops' on the quarter and led after-hours decliners, so the read-through is that execution and margin commentary matter more than a simple beat on revenue.
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