Qualcomm (NASDAQ: QCOM) Navigates Mixed Q3 Earnings and Supply Challenges

• Qualcomm's Q3 Performance: The semiconductor giant reported mixed financial results, with earnings per share (EPS) missing analyst estimates while revenue surpassed expectations.
• Operational Headwinds: The company faces significant challenges from rising operational costs and a global supply crunch for computer components, impacting profitability and future outlook.
• Analyst Sentiment: Goldman Sachs maintained a "Neutral" rating on Qualcomm, reflecting a balanced view of the stock's short-term performance in line with the broader market.

Qualcomm (NASDAQ: QCOM) is a global semiconductor company that designs and markets wireless telecommunications products and services. It is a major supplier of chips for smartphones and operates in the competitive electronics industry. The company currently has a market capitalization of approximately $164.09 billion. Market capitalization is the total value of a company's shares.

On July 29, 2026, the analyst firm Goldman Sachs maintained its "Neutral" rating on Qualcomm. The stock price was $155.68 when the rating was published. A neutral rating suggests that the analyst expects the stock to perform in line with the overall market, without strong short-term growth or decline.

This rating reflects Qualcomm's recent mixed financial results. For its third quarter, Qualcomm reported earnings per share (EPS) of $2.21, which missed the estimate of $2.22. EPS shows how much profit a company makes for each share of its stock. This figure is also down from $2.77 in the prior year.

Despite the lower earnings, Qualcomm's revenue of $9.95 billion surpassed analyst estimates. However, this revenue is still a decrease from the $10.37 billion reported a year ago. The company faces challenges from higher costs, which hurt its profit, as highlighted by The Wall Street Journal.

A supply crunch for computer parts also affects the company, as detailed in a CNBC report. In response, Qualcomm plans to raise the prices of its chips. The company also issued a soft outlook, expecting adjusted earnings between $2.05 and $2.25 per share, which is below what analysts had forecast.