Wednesday Brings Further Earnings from Chipmakers

Chipmakers will be back in focus with third quarter earnings from Arm Holdings and Qualcomm (NYSE:QCOM)

QCOM – Daily Chart

QCOM – Daily Chart 

The price of QCOM is in a trading range between $156.50 and $177.64. The coming earnings release could see a move to one of those targets. 

Wireless chipmaker Qualcomm will be reporting results on Wednesday after the market closes. The company beat analysts’ revenue expectations by 1.9% last quarter, reporting revenues of $9.39 billion, which were up 11% year on year. It was a strong quarter for the company, with optimistic earnings guidance for the next quarter and a beat of analysts’ EPS estimates. 

For the coming quarter, analysts are expecting Qualcomm’s revenue to grow around 15% year on year to $9.93 billion. That would be a strong turnaround from the 24.3% decrease it recorded in the same quarter last year. Earnings are expected to come in at $2.57 per share. 

Results at Qualcomm’s peers may give a hint to what we can expect in Q3 with AMD delivering year-on-year revenue growth of 17.6%, beating analysts’ expectations by 1.6%. 

ARM Holdings will also release earnings on Wednesday and the share price is down -25% from the July highs after sales disappointed in previous earnings. Raymond James analyst Srini Pajjuri is bullish on Arm, setting a $160 price target for Arm and calling it “well-positioned to benefit from rapid growth of GenAI in the cloud and at the edge.” 

Pajjuri said that its edge AI was “a key catalyst” for Arm’s Armv9 architecture, which is used in the new Apple iPhone 16. 

The US election result on Tuesday could see movement in chip stocks due to the differing ideas of both candidates on tariffs and trade.

Recent News
Start Trading Now!

Try our demo account for free to learn trading. When you’re ready, switch to the live account and start trading for real.

Popular posts

ATFX

The Firm has taken the decision to cease providing services to retail clients, with immediate effect. We are therefore unable to accept any applications.

Services to professional clients will not be impacted. For professional applications please contact [email protected]

ATFX

Restrictions on Use

Products and Services on this website https://www.atfx.com/en-ae/ are not suitable
in your country. Such information and materials should not be regarded as or
constitute a distribution, an offer, or a solicitation to buy or sell any investments.
Please visit https://www.atfx.com/en/ to proceed.

ATFX

使用限制

本网站的产品及服务不适合英国居民。网站内部的信息和素材不应被视为分销,要约,买入或卖出任何投资产品。请继续访问 https://www.atfx.com/en/

ATFX

Restrictions on Use

Products and Services on this website are not suitable for the UK residents. Such information and materials should not be regarded as or constitute a distribution, an offer, or a solicitation to buy or sell any investments. Please visit https://www.atfx.com/en/ to proceed.

ATFX

Restrictions on Use

Products and Services on this website are not suitable for the UK residents. Such information and materials should not be regarded as or constitute a distribution, an offer, or a solicitation to buy or sell any investments. Please visit https://www.atfx.com/en/ to proceed.

ATFX

Restrictions on Use

Products and Services on this website are not suitable for Hong Kong residents. Such information and materials should not be regarded as or constitute a distribution, an offer, solicitation to buy or sell any investments.

使用限制: 本網站的產品及服務不適合香港居民使用。網站內部的信息和素材不應被視為分銷,要約,買入或賣出任何投資產品。

ATFX

Restrictions on Use

AT Global Markets (UK) Limited does not offer trading services to retail clients.
If you are a professional client, please visit https://www.atfxconnect.com/