QCOM — Qualcomm

Business: Snapdragon mobile/PC/auto processors (QCT) and wireless patent licensing (QTL). Most revenue is tied to smartphone units, so handset demand and Apple modem in-sourcing drive the stock.

TRAI data

• Sector (TRAI): Semis; correlation cluster 1 (avg ρ 0.588, 60d to 2026-10-22).
• Next earnings: Wed 2026-11-04 AMC, call 1:45 PM PT (Qualcomm IR, 2026-10-22).
• Typical earnings reaction (last 4): avg |gap| 6.99% (2.08 ATR), fill rate 0% (TRAI /api/events).

2026-10-30 11:00 update

• −10.29% at 11:05 ET, below OR30 low (−8.17%) and −2.18% vs VWAP, the weakest semis name vs its own range. No company-specific news found; MarketWatch cites handset and enterprise-hardware demand fears in the INTC-led selloff (MarketWatch, 2026-10-30). Q3 smartphone shipments −20% y/y per Counterpoint (see the 10:00 report §6).

Report links

• 2026-10-30 11:00 — semis rout, pre-earnings gap risk

2026-11-02 12:00 update

• TRAI short-momentum name working against the short on day 2: +1.92% at 12:10 ET (gap +0.70%). Prints Wed 11-04 AMC. 2026-11-02 12:00 — semis day 2, fade-longs fail, compute/memory vs analog split

2026-11-05 15:00 update — Q4 FY26 print + reaction

• Printed AMC Wed 2026-11-04 (call was scheduled 1:45 PM PT per prior IR note). Reaction day 11-05: Yahoo open 150.30 / last ~157.3–157.6 ≈ −9% vs TRAI 11-04 close 173.19. The 08:58 premarket indicatedGapPct −11.83% was REAL (own earnings), not a stale extended-hours artifact.
• Handset chip sales −26% YoY to $5.14B; light Q1 guide (adj. Q4 rev/EPS slightly above expectations per coverage) (CNBC, 2026-11-04; CNBC, 2026-11-05). Primary IR PDF dollars beyond those CNBC figures not re-parsed this hour [S-1 on exact guide band].
• TRAI listed QCOM long_momentum on the 11-04 close (+5.33%, relVol 2.08) with the contrary indicated gap — S-005 / S-116 case.
• Cluster 12 with APP and RBLX (avg ρ 0.589; QCOM–APP 0.56). Same reaction day APP ~+30% on its own beat — idiosyncratic prints overwhelmed the co-move. Report
• Next print in /api/events now shows est. 2027-02-03 AMC; last-3 avg |gap| refreshed to 8.96%.