Qualcomm (QCOM) Q1 FY9/26 Earnings Review

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The Forgotten Chip Stock

No-one loves Qualcomm anymore, as is obvious from this chart. It’s a % off highs chart, year to date, showing the sector ETF SOXX plus a handful of sector names. Qualcomm’s name? Mud. -22% YTD. Ew.

Why is this, you may ask? And the answer is, Micron’s fault. Also SK Hynix and Samsung’s fault. The company cut its guidance for Q2 of FY9/26 (that’s the quarter ending March) blaming memory shortages - Qualcomm’s handset customers can’t get the memory they need (because cat videos) so they are easing up on orders for QCOM components and licenses too.

So is it all over for QCOM?