Qualcomm Inc (NASDAQ:QCOM) shares are rising on Friday, getting a boost from Intel's blowout first‑quarter results.
- Qualcomm stock is charging ahead with explosive momentum. What’s behind QCOM gains?
Intel's Big Beat Sets The Tone
Intel Corp (NASDAQ:INTC) shares jumped in premarket trading after the company posted a far stronger quarter than Wall Street anticipated. Intel reported 29 cents in earnings per share, easily topping the one cent consensus estimate, and delivered $13.58 billion in revenue, well ahead of expectations and up from last year's $12.67 billion.
That read‑through is helping Qualcomm, as improving demand across the chip supply chain tends to benefit multiple players, even those operating in different end markets.
AI and Data Center Momentum
Intel highlighted that AI‑related revenue now makes up about 60% of its total business and grew 40% year over year. Its Data Center and AI segment generated $5.1 billion in revenue, up 22% from last year and 7% sequentially, with a 31% operating margin.
This matters for Qualcomm because strong investment in AI infrastructure often correlates with healthier demand for mobile, automotive and edge‑computing chips — areas where Qualcomm has significant exposure. When cloud and enterprise spending accelerates, it typically signals broader strength across the semiconductor landscape.
Guidance Signals Momentum Is Continuing
Intel's outlook was another positive surprise. The company expects second-quarter EPS of 20 cents, more than double the Street estimate, and revenue between $13.8 billion and $14.8 billion, well above expectations. Intel also expects double‑digit sequential growth in its Data Center and AI segment.
Momentum Improves, But The Chart Is Still In Repair Mode
Technically, Qualcomm is pushing back toward the middle of its 52-week range after spending months below longer-term trend gauges, a classic "repair mode," not a victory lap. The stock is trading 12.1% above its 20-day simple moving average (SMA) and 2.6% below its 100-day SMA, a configuration that says short-term momentum has woken up, but the intermediate trend still wants proof.
MACD is above its signal line and the histogram is positive, which tilts the near-term pressure upward. The market's message: the recent price action is improving versus the prior trend, but it's not a full trend reversal until buyers keep showing up on more than just one strong session.
The levels are clean and, frankly, very Wall Street: $147.00 is the line where rallies have recently stalled and is now being challenged, while $122.00 is the area where buyers have tended to show up during pullbacks. If the stock can hold above former "no-go" territory, momentum traders will keep sniffing around; if it can't, the move risks looking like a one-day wonder.
QCOM Shares Are Moving Higher
QCOM Price Action: Qualcomm shares were up 9.38% at $146.52 at the time of publication on Friday, according to Benzinga Pro.
Image: Michael Vi/Shutterstock
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