What analysts think about Qualcomm stock in terms of earnings

Qualcomm (QCOM) will report its fourth-quarter results after the market closes on Wednesday, and analysts expect rising sales and profits compared to the same period last year. However, they expect revenue growth to slow next year given slow smartphone and PC sales.

Analysts are somewhat bullish on the hardware and software maker's stock, with the twelve analysts tracked by Visible Alpha split into four “buy”, seven “hold” and one “sell” ratings. Qualcomm's average price target of $198.08 shows that analysts believe the stock still has room to rise in the coming months.

Analysts expect Qualcomm's fourth-quarter revenue to rise nearly 15% to $9.9 billion compared to the same period last year, while profit is expected to rise over 70% to $2.58 billion, according to Visible Alpha estimates US dollar will rise.

Qualcomm shares rose 3% to $170.87 on Wednesday, about 17% above their early-year level but below June highs above $220.

A weak smartphone and PC market could hurt Qualcomm's revenue growth

In a note ahead of Qualcomm's results, JPMorgan analysts lowered their estimates for Qualcomm's fiscal 2025 revenue and profit performance. The analysts said there was “no recovery in the smartphone market” and only a “modest” adoption of artificial intelligence (AI). Smartphones and PCs that Qualcomm helps produce could slow the company's sales growth in the next fiscal year.

Analysts maintained an Overweight rating but lowered their price target to $195 from $210.