Qualcomm Inc

QCOM: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Qualcomm Earnings: Reducing Fair Value to $155 from $185 With Smartphone Weakness

Brian Colello

Feb 5, 2026

Qualcomm reported fiscal first-quarter revenue of $12.25 billion, up 9% sequentially, up 5% year over year, and just above the midpoint of guidance. Qualcomm expects March-quarter revenue of $10.6 billion at the midpoint, below FactSet consensus of $11.1 billion.

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Qualcomm Inc

Qualcomm Earnings: Reducing Fair Value to $155 from $185 With Smartphone Weakness

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