Bernstein comments on Qualcomm (QCOM.US) Q4 earnings: Revenue beat fails to mask margin pressure; handset business outlook overly optimistic.

Zhitong Finance APP has learned that Bernstein released a research report stating that although Qualcomm's (QCOM.US) fiscal 2026 fourth quarter (FQ426) revenue exceeded expectations, margin pressure caused earnings per share (EPS) to only broadly meet expectations; the guidance for the new fiscal quarter was also mixed, and the inclusion of the data center business further weighed on margins. Based on margin uncertainty, Bernstein maintained its "Market Perform" rating on Qualcomm with a target price of $155.