QCOM Stock News and Chart: QUALCOMM Inc rides higher ahead of its earnings call

NASDAQ:QCOM gains 1.19% on Tuesday as tech stocks take the broader markets positive.
Qualcomm prepares for its quarterly earnings call on November 4th after the closing bell.
Qualcomm is riding the wave of 5G phones and devices that are coming to the market.

Stocks Reporter FXStreet

The global markets have rallied this week as the world awaits the outcome of the United States federal election that is taking place on Tuesday. Tech stocks like Qualcomm (NASDAQ:QCOM) have led the way as the San Diego based chip maker gained another 1.19% on Tuesday to close the trading day at $125.45. Despite the recent fluctuations in Qualcomm’s stock price, shares are still up over 40% since the start of the calendar year, and have gained nearly 120% since the markets crashed in late March.

On Wednesday, Qualcomm is set to announce its quarterly earnings with anticipation that year-over-year revenue will spike dramatically on the highly anticipated release of the next generation of 5G smartphones. Most notably, Qualcomm’s Snapdragon X55 chips are featured in the new IPhone 12 line from Apple (NASDAQ:AAPL). There is an expectancy around the industry that many people have been holding out until the 5G phones hit the market, so this holiday season could see high demand for the new smartphones.

QCOM stock price

But it is not just the smartphone chips that have kept Qualcomm busy this year. QCOM released chips for smart watches as well, as the company tries to capitalize on the wearables market. The Snapdragon Wear 4100 is Qualcomm’s attempt to bring faster CPU and GPU to smart watches as we shift towards a world where all of our devices communicate with one another. All of this leads to Wall Street analysts expecting another quarter where Qualcomm beats revenue expectations and rides the tailwinds of its partnership with Apple into 2021.

Author

Stocks Reporter

FXStreet

GBP/USD extends the drop to 1.3360

GBP/USD builds on Monday’s decline and briefly clinches five-day lows near 1.3360 on Tuesday. Cable’s extra pullback follows the better tone in the Greenback as uncertainty in the Middle East prompts investors to adopt a cautious stance. Meanwhile, an apathetic UK labour market report also collaborates with the selling pressure on the British Pound.

EUR/USD holds gains above 1.1400 on hawkish ECB expectations despite US-Iran tensions

The EUR/USD pair trades with mild gains around 1.1405 during the early Asian session on Wednesday. A hawkish tone from the European Central Bank provides some support to the Euro against the US Dollar. Traders await the upcoming ECB interest rate decision on Thursday.

Gold hits two-week highs above $4,100 despite widening Mideast conflict

Gold hits two-week highs above $4,100 in the Asian session on Wednesday. The bright metal seems to ride the optimistic wave that diplomatic efforts are underway. However, concerns about energy-driven inflation risks continue to fuel Fed rate-hike bets. They could act as a tailwind for the US Dollar amid widening US-Iran tensions, which, in turn, could cap the bullion.

The market runs back into AI despite higher Oil and yields

World stocks surged as traders made a spirited return to the market’s commanding centre of gravity, piling back into semiconductors, AI leaders and momentum, with the enthusiasm of a crowd rushing through the one door it still trusts. The Nasdaq led Wall Street higher, semiconductor shares jumped more than 5%, and momentum staged its strongest rebound in years.

The Iranian war has again risen

The Iranian war has again risen to the top of the economics factor list. There is no end in sight. Intelligence experts say the current level of offense/retaliation will not change minds in Tehran, while in Washington, Trump fears all-out war, which would mean boots on the ground.

US Dollar mid-year outlook: Exceptional currency, exceptional risks?

The US Dollar enters the second half of 2026 in a markedly different position from a year ago. The King currency has recovered, reflecting persistent US inflation, changing expectations for Fed policy, geopolitical tensions and renewed demand for defensive assets.