The end of the earnings season is always a good time to take a step back and see who shined (and who didn’t). Let’s take a look at how processors and graphics chips stocks fared in Q2, starting with Qualcomm (NASDAQ:QCOM).
The biggest demand drivers for processors (CPUs) and graphics chips at the moment are secular trends related to 5G and Internet of Things, autonomous driving, and high performance computing in the data center space, specifically around AI and machine learning. Like all semiconductor companies, digital chip makers exhibit a degree of cyclicality, driven by supply and demand imbalances and exposure to PC and Smartphone product cycles.
The 9 processors and graphics chips stocks we track reported a very strong Q2. As a group, revenues beat analysts’ consensus estimates by 5.3% while next quarter’s revenue guidance was 6.8% above.
Luckily, processors and graphics chips stocks have performed well with share prices up 10.3% on average since the latest earnings results.
Weakest Q2: Qualcomm (NASDAQ:QCOM)
Having been at the forefront of developing the standards for cellular connectivity for over four decades, Qualcomm (NASDAQ:QCOM) is a leading innovator and a fabless manufacturer of wireless technology chips used in smartphones, autos and internet of things appliances.
Qualcomm reported revenues of $9.95 billion, down 4% year on year. This print exceeded analysts’ expectations by 3%. Despite the top-line beat, it was still a mixed quarter for the company with a narrow beat of analysts’ operating income estimates but an increase in its inventory levels.
Interestingly, the stock is up 16.2% since reporting and currently trades at $180.89.
Read our full report on Qualcomm here, it’s free.
Best Q2: Intel (NASDAQ:INTC)
Inventor of the x86 processor that powered decades of technological innovation in PCs, data centers, and numerous other markets, Intel (NASDAQ:INTC) is a leading manufacturer of computer processors and graphics chips.
Intel reported revenues of $16.13 billion, up 25.4% year on year, outperforming analysts’ expectations by 11.7%. The business had an incredible quarter with a significant improvement in its inventory levels and a beat of analysts’ EPS estimates.
Intel scored the biggest analyst estimate beat in the group. The market seems happy with the results as the stock is up 12.4% since reporting. It currently trades at $112.69.
Is now the time to buy Intel? Access our full analysis of the earnings results here, it’s free.
Broadcom (NASDAQ:AVGO)
Originally the semiconductor division of Hewlett Packard, Broadcom (NASDAQ:AVGO) is a semiconductor conglomerate spanning wireless communications, networking, and data storage as well as infrastructure software focused on mainframes and cybersecurity.
Broadcom reported revenues of $29.59 billion, up 85.5% year on year, in line with analysts’ expectations. It was a mixed quarter as it posted a significant improvement in its inventory levels but revenue guidance for next quarter slightly missing analysts’ expectations.
Broadcom delivered the weakest performance against analyst estimates and weakest guidance update among its peers. Interestingly, the stock is up 2.8% since the results and currently trades at $377.58.
Read our full analysis of Broadcom’s results here.
Lattice Semiconductor (NASDAQ:LSCC)
A global leader in its category, Lattice Semiconductor (NASDAQ:LSCC) is a semiconductor designer specializing in customer-programmable chips that enhance CPU performance for intensive tasks such as machine learning.
Lattice Semiconductor reported revenues of $201.1 million, up 62.2% year on year. This print beat analysts’ expectations by 8.6%. It was a stunning quarter as it also produced a beat of analysts’ EPS estimates and an impressive beat of analysts’ operating income estimates.
Lattice Semiconductor delivered the highest guidance raise of the whole group. The stock is flat since reporting and currently trades at $136.78.
Read our full, actionable report on Lattice Semiconductor here, it’s free.
AMD (NASDAQ:AMD)
Founded in 1969 by a group of former Fairchild semiconductor executives led by Jerry Sanders, Advanced Micro Devices (NASDAQ:AMD) is one of the leading designers of computer processors and graphics chips used in PCs and data centers.
AMD reported revenues of $11.54 billion, up 50.1% year on year. This number topped analysts’ expectations by 1.7%. Overall, it was a strong quarter as it also logged a meaningful improvement in its inventory levels and revenue guidance for next quarter topping analysts’ expectations.
The stock is up 25.7% since reporting and currently trades at $652.03.
Read our full, actionable report on AMD here, it’s free.
Market Update
Over the past year, investors have been forced to repeatedly answer the same question: what is the market’s biggest risk? The answer has changed several times, and each shift has reshaped market leadership.
Late in 2025 and early 2026, artificial intelligence became the market’s primary uncertainty. Investors questioned whether AI would erode software pricing power and weaken competitive moats as AI made it easier to replicate once-differentiated products.
By the spring, technology took a back seat to geopolitics. The U.S. conflict with Iran briefly became the market’s dominant narrative, raising concerns about oil prices, inflation, and global growth. But as energy markets remained orderly and fears of a prolonged supply disruption faded, investors quickly turned their focus back to fundamentals.
Want to invest in winners with rock-solid fundamentals? Check out our Hidden Gem Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.