Qualcomm (QCOM) Faces 43% EPS Drop in Fiscal Q4 Earnings Due Nov. 4

Qualcomm (QCOM) is set to report fiscal Q4 2026 earnings on Wednesday, Nov. 4, after market close, with analysts projecting earnings per share of $1.46, down 43% from $2.56 a year earlier. Full-year EPS is expected at $7.71, down 23.4% from $10.07 in fiscal 2025, with a further 7% decline to $7.17 forecast for fiscal 2027. The company beat or met estimates in three of the past four quarters, missing slightly last quarter. QCOM shares have risen 3.5% over the past 52 weeks, trailing the S&P 500 Index's ($SPX) 13.1% gain and the Technology Select Sector SPDR ETF's (XLK) 26.8% return. Investors are weighing weakness in the core smartphone business, rising wafer, memory and packaging costs, and an accelerating loss of Apple-related modem revenue. Qualcomm also announced a global workforce reduction. Analyst consensus is a "Moderate Buy," with an average price target of $199.38, implying 13.3% upside.