Qualcomm (QCOM) issues Q2 FY26 earnings forecast due to memory chip supply constraints

Qualcomm is anticipating a reduction in handset manufacturing due to the increasing demand for memory in AI data centers.

The ongoing RAM shortage that some consumers may have noticed over the past few months does not appear like it will be ending anytime soon. While Qualcomm (QCOM) does not anticipate problems in the long-term, the company is acknowledging that it will feel an impact in the near future. As part of Wednesday's Q1 2026 earnings report, Qualcomm issued cautionary guidance for the next quarter as a result of this continuing memory shortage.

"While our near-term handsets outlook is impacted by industry-wide memory supply constraints, we are encouraged by end-consumer demand for premium and high tier smartphones, and remain on track to achieve our fiscal 2029 revenue goals," Qualcomm President/CEO Cristiano Amon said in the Qualcomm Q1 2026 earnings report.

While Qualcomm recorded a quarterly revenue figure of $12.252 billion USD for Q1 2026, the guidance number for the next quarter is significantly lower. The company is estimating Q2 2026 revenue in the range of $10.2 to $11.0 billion, which takes memory supply constraints and continuing demand for new handsets into consideration. Qualcomm notes that the demand for memory is being driven by the AI sector. Qualcomm previously announced plans to AI chips to compete with AMD and NVIDIA.

We'll have more on Wednesday's earnings from Qualcomm, along with several other companies, throughout the day here at Shacknews.

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