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Barchart
Barchart
Amit Singh

Memory Supply Dynamics May Hurt Qualcomm’s Q2. Is QCOM Stock a Buy, Sell, or Hold?

Qualcomm (QCOM) will release its second-quarter fiscal 2026 earnings on April 29. The company continues to benefit from steady consumer demand for smartphones and strong positioning of its Snapdragon products. Growth is also being supported by expanding momentum in its automotive and IoT segments. However, broader industry challenges, such as limited memory supply and a slowdown in chip orders, may put pressure on both revenue and earnings in Q2.

Qualcomm shares have declined approximately 12% year-to-date (YTD), underperforming the broader S&P 500 ($SPX). This suggests that investors are already pricing in some degree of cyclical weakness heading into the earnings release.

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