EL7.AI
StocksMediumUpdated×10•Originally published 29 April 2026•Updated 1 May 2026•
1 min read

Qualcomm Profits Hit $7.37 Billion on Strong Automotive and IoT Growth

Key Facts

1The semiconductor company posted a profit of $7.37 billion for the second quarter.
2Sales growth was driven by the automotive and Internet of Things sectors despite pressure from memory supply shortages.

Qualcomm reported a robust quarterly profit of $7.37 billion, delivering earnings of $2.65 per share and driving an 18% surge in its stock price. CEO Cristiano Amon confirmed significant progress in the data center and AI markets, supported by the company generating $12.82 billion in free cash flow for fiscal year 2025, a 15% year-over-year increase. In response, Argus Research raised its price target for QCOM to $220, representing a potential upside of 27.37%, while Citi, JPMorgan, and Wells Fargo lifted their targets to $160. Despite these upgrades, the company forecast a 7% revenue decline for the June quarter due to handset market weakness. Meanwhile, Morningstar maintained its $155 fair value estimate, and Amazon reported earnings of $1.56 per share, slightly missing analyst estimates.