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Qualcomm Inc. (NASDAQ:QCOM) is one of the 10 Stocks Delivering Eye-Popping Gains.

Qualcomm climbed by 15.12 percent on Thursday to finish at $179.58 apiece, as investors took heart from the company’s strong earnings performance in the second quarter of fiscal year 2026.

In an updated report, Qualcomm Inc. (NASDAQ:QCOM) said that its GAAP net income in the quarter ending March 2026 soared by 162 percent to $7.37 billion from $2.8 billion in the same period last year, despite revenues dipping by 3 percent to $10.6 billion from $10.98 billion year-on-year.

A Qualcomm employee on the job. Photo from Qualcomm website

Diluted earnings per share ended at $6.88, or 173 percent higher than the $2.52 in the same period a year earlier.

“We are pleased to deliver results in line with our guidance, reflecting solid execution as we navigate a challenging memory environment,” Qualcomm Inc. (NASDAQ:QCOM) President and CEO Cristiano Amon said.

“We are in a period of profound industry transformation—the rise of AI agents is reshaping our roadmap across every platform we develop. We are equally excited by our entry into the data center, where a leading hyperscaler custom silicon engagement is on track for initial shipments later this calendar year,” he added.

Qualcomm Inc. (NASDAQ:QCOM) said that further details about its growth initiatives, including opportunities in data center and AI, are set to be released at its Investor Day on June 24.

While we acknowledge the potential of QCOM as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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