Dear Qualcomm Stock Fans, Mark Your Calendars for July 29

Artificial intelligence has helped the semiconductor industry achieve another great year, but not all companies in the semiconductor industry have performed equally well this year. One company lagging some of its peers is Qualcomm (QCOM). Investors' concerns primarily revolve around the pace of recovery in the smartphone market and the company's transition into new growth areas like AI PCs, automotive, and data center processors.

This is why the coming Wednesday's release of fiscal third-quarter earnings results is especially critical for Qualcomm. Even though Wall Street is expecting year-over-year (YoY) falls in both revenues and EPS, Qualcomm's management has always insisted that the company's long-term opportunity stretches far beyond the company's smartphone business. The company is scheduled to report its results after the close of the market on July 29.