QCOM QUALCOMM INC/DE
Price Chart
Executive Summary
JP Morgan double downgraded Qualcomm (QCOM) from Overweight to Neutral on April 16, slashing its price target 24% to $140 from $185 — a 30% downside from the current $201.49. The call is contrarian: consensus is 58% Buy/Strong Buy (18 of 48 analysts), with a mean target of $176 implying 13% downside. JP Morgan's accuracy on this name is just 43% (3 of 7 calls), below average among covering firms. The downgrade comes amid a 30-day EPS revision cycle where 24 estimates were cut vs 1 raised for the current quarter, and 26 cuts vs 2 raises for the current fiscal year. Insider selling is heavy — the CEO sold $3.65M in early May, and the CFO sold $12K on May 12. Short interest is elevated at 58.7% of TRF volume. The bottom line: a low-accuracy firm making a contrarian bearish call with heavy insider selling and deteriorating estimates — a bearish signal that warrants caution but not panic.
Impact Score
Consensus & Targets
Of 48 analysts covering QCOM: 5 Strong Buy, 13 Buy (total 38% Buy/Strong Buy), 26 Hold (54%), 4 Sell (8%), 0 Strong Sell. Consensus is tilted neutral-to-bullish, making JP Morgan's downgrade a contrarian call. The mean target of $176 implies 13% downside from $201.49.
Price target range: high $300, low $100, mean $175.97, median $160. Current price $201.49. Implied downside to mean: -13%. JP Morgan's $140 target is 20% below the mean and 12% below the low — the most bearish on the Street. The median of $160 suggests most analysts see 20% downside, but JP Morgan is even more negative.
Recent Analyst Activity
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| 2026-05-08 | Tigress Financial | maintain | Buy | $280.00 |
| 2026-05-08 | Daiwa Capital | upgrade | Outperform | $225.00 |
| 2026-04-30 | JP Morgan | maintain | Neutral | $160.00 |
| 2026-04-30 | UBS | maintain | Neutral | $170.00 |
| 2026-04-30 | TD Cowen | maintain | Buy | $200.00 |
| 2026-04-30 | Citigroup | maintain | Neutral | $160.00 |
| 2026-04-30 | Susquehanna | maintain | Neutral | $160.00 |
| 2026-04-30 | RBC Capital | maintain | Sector Perform | $175.00 |
| 2026-04-30 | Evercore ISI Group | maintain | In-Line | $179.00 |
| 2026-04-30 | Barclays | maintain | Underweight | $150.00 |
30-day analyst activity: 1 upgrade (Daiwa Capital: Neutral → Outperform, PT $225) and 1 downgrade (JP Morgan). EPS revision trend is decisively negative: 24 cuts vs 1 raise for the current quarter, 26 cuts vs 2 raises for the current fiscal year. Estimates are being revised lower across all timeframes.
Firm Track Record — JP Morgan
JP Morgan accuracy: 55% on 5703 calls | avg return: 5.6%
Industry benchmark: mean 51% ± 11%. Top tier: ≥61% (mean + 1σ). Based on 15 firms with ≥5 scored calls.
| Firm | Accuracy | Calls | Avg Return | vs Average |
|---|---|---|---|---|
| HSBC | 100% | 2/2 | -4.6% | top tier |
| WestPark Capital | 100% | 2/2 | 1.1% | top tier |
| Loop Capital | 100% | 2/2 | 6.5% | top tier |
| Keybanc | 67% | 2/3 | -0.3% | top tier |
| Wells Fargo | 60% | 3/5 | -4.5% | above average |
| TD Cowen | 50% | 1/2 | -3.7% | below average |
| Evercore ISI Group | 50% | 2/4 | 3.1% | below average |
| Rosenblatt | 50% | 3/6 | -2.8% | below average |
| Susquehanna | 50% | 3/6 | 4.9% | below average |
| Cantor Fitzgerald | 44% | 4/9 | -0.8% | below average |
JP Morgan's accuracy on QCOM is 43% (3 correct of 7 calls), with an average return of -0.8% — below the average of covering firms. Best performers: HSBC, WestPark Capital, Loop Capital (all 100% on 2 calls each). Worst: Barclays (33% on 3 calls, -8.8% avg return), Baird (33% on 3 calls, -4.8% avg return). JP Morgan is in the bottom tier for this ticker.
Earnings Estimates
Next earnings: Jul 28, 2026
| Period | EPS Est. | EPS Range | Revenue | Revisions (7d) |
|---|---|---|---|---|
| 0q | $2.23 | $2.15 — $2.52 | $9.7B | ↑0 ↓0 |
| +1y | $10.64 | $9.24 — $12.71 | $42.5B | ↑1 ↓0 |
| 0y | $10.80 | $10.47 — $12.29 | $42.4B | ↑0 ↓0 |
| +1q | $2.35 | $2.13 — $2.76 | $10.0B | ↑0 ↓0 |
Cross-Platform Signals
Insider selling is heavy and concentrated: CEO Cristiano Amon sold $3.65M on May 4-5, CFO Akash Palkhiwala sold $12K on May 12, and other executives sold $602K in late April. This aligns with the bearish analyst signal — a concurring negative signal. Institutional activity is mixed: Norges Bank took a new $2.6B position but also exited another, while Renaissance Technologies and Two Sigma exited or nearly exited. Short interest is elevated at 58.7% of TRF volume, indicating bearish positioning. Congressional activity: Rep. Jared Moskowitz (D-FL) sold $15K-$50K on March 31 — a small signal.
Actionable Insight
The combination of a contrarian double downgrade from a low-accuracy firm, heavy insider selling, and deteriorating EPS estimates creates a bearish setup. Traders should consider reducing exposure or hedging ahead of the July 28 earnings, as the risk/reward is skewed to the downside.
Documents Analyzed
Report based on filing metadata.
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
May 31, 2026
5d ago
|
ANALYST-UPGRADE
| $144.67 $138.13 | ▼ −4.52% | ▼ −3.49% | $215.94 (+49.27%) |
|
May 17, 2026
19d ago
|
ANALYST-DOWNGRADE
| $135.98 $148.92 | ▼ −9.52% | ▼ −8.96% | $215.94 (−58.81%) |
|
May 16, 2026
20d ago
|
ANALYST-DOWNGRADE
| $134.42 $133.85 | ▲ +0.42% | ▲ +1.41% | $215.94 (−60.65%) |
|
May 8, 2026
28d ago
|
ANALYST-UPGRADE
| $237.08 $203.30 | ▼ −14.25% | ▼ −14.16% | $215.94 (−8.92%) |
|
May 5, 2026
4w ago
|
Insider Cluster
| $186.45 $209.37 | ▲ +12.29% | ▲ +10.31% | $215.94 (+15.82%) |
|
May 1, 2026
5w ago
|
ANALYST-UPGRADE
| $144.67 $138.13 | ▼ −4.52% | ▼ −3.49% | $215.94 (+49.27%) |
|
Apr 30, 2026
5w ago
|
Insider Cluster
| $179.65 $192.57 | ▲ +7.19% | ▲ +5.47% | $215.94 (+20.20%) |
|
Apr 30, 2026
5w ago
|
Insider Cluster
| $179.65 $192.57 | ▲ +7.19% | ▲ +5.47% | $215.94 (+20.20%) |
|
Apr 17, 2026
7w ago
|
ANALYST-DOWNGRADE
| $135.98 $148.92 | ▼ −9.52% | ▼ −8.96% | $215.94 (−58.81%) |
|
Mar 12, 2026
12w ago
|
Insider Cluster
| $131.18 $131.21 | ▲ +0.02% | ▲ +1.00% | $215.94 (+64.62%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Try SecBot Free Coming soon: SecBot Pro with alerts, watchlists, and API access