Qualcomm Stock Slides as Smartphone Fears Eclipse Beat

Qualcomm ( (QCOM) ) has fallen by -10.01%. Read on to learn why.

Qualcomm shares have fallen 10.01% over the past week, extending what has become a difficult stretch for the chipmaker despite delivering better‑than‑expected quarterly results. The company beat Wall Street estimates with earnings of $3.50 per share and revenue of $12.25 billion, showing both quarterly and year‑over‑year growth. However, the market’s focus quickly shifted from the solid backward‑looking numbers to a softer outlook, pushing the stock lower as investors reassessed the near‑term risk/reward profile.

The key pressure on Qualcomm’s stock price is its cautious guidance and growing concerns around the global smartphone market. Management is flagging a sharp drop in handset revenue driven by memory chip shortages and production cuts at major smartphone makers, particularly in China. Qualcomm expects earnings to fall back to a range of $2.45–$2.65 per share and revenue to $10.2–$11 billion in the current quarter, both below Street forecasts. On top of this, Susquehanna’s Christopher Rolland downgraded the stock to Hold and cut his price target sharply, citing memory‑related supply constraints, anticipated modem share losses to Apple, and rising competition from in‑house chips at Chinese OEMs.

Even so, Wall Street is far from abandoning Qualcomm. The stock still carries a “Moderate Buy” consensus rating, with most analysts seeing notable upside from current levels over the next 12 months. Targets remain well above the present price, supported by expectations that handset demand will eventually stabilize and by optimism around Qualcomm’s longer‑term growth drivers in 5G, RF components, automotive, and IoT. For investors, the recent 10.01% slide reflects a tug‑of‑war between near‑term smartphone and supply‑chain headwinds and the belief that Qualcomm’s broader technology portfolio can power a recovery once the current downturn in handsets eases.