On May 8, Qualcomm rose 3.62% in regular trading, trading at $213.81/share with trading volume of $711 million, extending its multi-day rally following the release of its fiscal Q2 2026 earnings report.
The continued upward momentum is driven by Qualcomm's fiscal second-quarter results released earlier this month. The company reported revenue of $10.599 billion, with net profit surging 162% year-over-year. Notably, the automotive chip business posted record quarterly revenue of $1.326 billion, up 38% YoY, with annualized run-rate exceeding $5 billion. Management projected annualized auto revenue will surpass $6 billion by fiscal year-end. The technology licensing segment also delivered 5% revenue growth with a 72% pre-tax margin, providing stability amid mobile headwinds.
While handset revenue faced pressure due to Apple's increasing adoption of in-house modem chips, investors appear to be rewarding Qualcomm's diversification strategy into automotive and IoT segments as credible second-growth curves offsetting mobile cyclicality.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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