Semiconductor giant Qualcomm Inc. is gearing up to report earnings on Wednesday, with the stock quietly rising nearly 30% since April. Traders are eyeing a potential breakout above July’s high of $164, signaling a continued uptrend. Qualcomm’s consistent delivery of solid results has built confidence amongst investors.

Qualcomm’s upcoming earnings report is crucial as the company trades at a discount to industry peers. JPMorgan raised its price target to $200, suggesting a 25% upside potential. However, UBS remains neutral, citing macroeconomic challenges. Wall Street is divided on whether Qualcomm is poised for a breakout or will remain stagnant.

Investors can approach Qualcomm’s earnings in two ways: buy in before the report based on bullish momentum and analyst support, or wait for confirmation of a breakout post-earnings. Qualcom’s consistent earnings beats and growth drivers make it an attractive option for those seeking a high-quality chip stock at a bargain valuation.

With Qualcomm’s strong fundamentals, consistent earnings beats, and growth drivers in sight, the narrative around the stock may be shifting. The upcoming earnings report could be the catalyst that confirms this change. Whether you choose to act before or after the report, Qualcomm is a stock to watch closely as we head into the second half of 2025.

Read more at Nasdaq: Can Qualcomm Shock Wall Street With Its Q3 Earnings?