Qualcomm vs. Intel: What Recent Revenue Trends Tell Investors
Key Points
Intel currently generates higher total revenue, maintaining a consistent lead over Qualcomm in recent quarters.
Both companies have shown noticeable quarter-over-quarter revenue fluctuations rather than straight-line growth over the last two years.
Investors should watch whether the revenue gap between the two companies continues to hold steady or begins to narrow in upcoming quarters.
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Qualcomm: Cyclical Revenue Trends
Qualcomm (NASDAQ:QCOM) primarily generates revenue by developing and licensing foundational wireless technologies and selling integrated circuits to device manufacturers worldwide.
While establishing a coalition with several companies to plan global 6G deployment, it reported about 70% net income margin for the quarter ended March 29, 2026.
Intel: Sustaining Larger Revenue Scale
Intel (NASDAQ:INTC) earns its revenue by designing and manufacturing computer components, processors, and computing systems for original equipment manufacturers and cloud providers.
It announced a multi-year collaboration with Alphabet-owned Google to develop next-generation cloud infrastructure, and it reported about 39% gross margin for the quarter ended March 28, 2026.
Why Revenue Matters for Retail Investors
Revenue serves as a foundational metric that shows investors the total amount of money a business brings in before operating expenses are deducted. It’s important because it reveals whether a corporation is successfully attracting customers and growing its overall business volume over time.
Image source: The Motley Fool.
Quarterly Revenue for Qualcomm and Intel
| Quarter (Period End) | Qualcomm Revenue | Intel Revenue |
|---|---|---|
| Q2 2024 | $9.4 billion (period ended June 2024) | $12.8 billion (period ended June 2024) |
| Q3 2024 | $10.2 billion (period ended Sept. 2024) | $13.3 billion (period ended Sept. 2024) |
| Q4 2024 | $11.7 billion (period ended Dec. 2024) | $14.3 billion (period ended Dec. 2024) |
| Q1 2025 | $11.0 billion (period ended March 2025) | $12.7 billion (period ended March 2025) |
| Q2 2025 | $10.4 billion (period ended June 2025) | $12.9 billion (period ended June 2025) |
| Q3 2025 | $11.3 billion (period ended Sept. 2025) | $13.7 billion (period ended Sept. 2025) |
| Q4 2025 | $12.3 billion (period ended Dec. 2025) | $13.7 billion (period ended Dec. 2025) |
| Q1 2026 | $10.6 billion (period ended March 2026) | $13.6 billion (period ended March 2026) |
Data source: Company filings. Data as of May 19, 2026.
Foolish Take
Both Qualcomm and Intel have experienced lumpy revenue over the past few years, but that could change with the arrival of artificial intelligence. The tech was a reason behind Intel stock’s fall, which reached a 52-week low of $18.97 last year due to investor concerns over the company’s ability to capitalize on AI. That changed in 2026 as shares went on a historic run to hit an all-time high of $132.75 on May 11.
Intel’s share price reversal was due to a number of high-profile deals, such as its partnership with Google and Elon Musk’s Terafab project. The chipmaker also saw revenue in its fiscal first quarter, ended March 28, rise 7% year over year to $13.6 billion. The company expects Q2 sales of at least $13.8 billion, signaling a new trend of rising revenue, which reignited investor confidence in Intel’s AI prospects.
Qualcomm’s sales of $10.6 billion in its fiscal Q2, ended March 29, represented a 3% year-over-year decline as revenue in its handset segment plunged 13% year over year to $6 billion. Yet shares soared to a 52-week high of $247.90 on May 11 due to investor enthusiasm for its transition towards AI.
Qualcomm forecasted fiscal Q3 revenue of at least $9.2 billion. This indicates a new trend of falling quarterly revenue. Perhaps the company’s shift to AI will return it to sales. For now, Intel is the one delivering results, given what its revenue numbers reveal.
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Robert Izquierdo has positions in Alphabet, Intel, and Qualcomm. The Motley Fool has positions in and recommends Alphabet, Intel, and Qualcomm. The Motley Fool has a disclosure policy.
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