Wrapping up Q1 earnings, we look at the numbers and key takeaways for the processors and graphics chips stocks, including Intel (NASDAQ: INTC) and its peers.

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 Q1. As a group, revenues beat analysts’ consensus estimates by 4.8% while next quarter’s revenue guidance was 4.2% above.

Luckily, processors and graphics chips stocks have performed well with share prices up 17.6% on average since the latest earnings results.

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 $13.58 billion, up 7.2% year on year. This print exceeded analysts’ expectations by 9.6%. Overall, it was an exceptional quarter for the company with a beat of analysts’ EPS and operating income estimates.

Intel scored the highest guidance raise of the whole group. Unsurprisingly, the stock is up 68.6% since reporting and currently trades at $112.62.

Is now the time to buy Intel? Access our full analysis of the earnings results here, it’s free.

Best Q1: 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 $170.9 million, up 42.2% year on year, outperforming analysts’ expectations by 3.6%. The business had a stunning quarter with a significant improvement in its inventory levels and a beat of analysts’ EPS estimates.

The market seems happy with the results as the stock is up 11.2% since reporting. It currently trades at $139.59.

Is now the time to buy Lattice Semiconductor? Access our full analysis of the earnings results here, it’s free.

Slowest Q1: 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 $10.6 billion, down 2.2% year on year, in line with analysts’ expectations. It was a slower quarter as it posted revenue guidance for next quarter missing analysts’ expectations significantly and an increase in its inventory levels.

Qualcomm delivered the weakest performance against analyst estimates and weakest guidance update in the group. Interestingly, the stock is up 22.4% since the results and currently trades at $190.91.

Read our full analysis of Qualcomm’s results here.

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 $22.19 billion, up 47.9% year on year. This result surpassed analysts’ expectations by 0.6%. Taking a step back, it was a satisfactory quarter as it also produced revenue guidance for next quarter beating analysts’ expectations but an increase in its inventory levels.

The stock is down 16.4% since reporting and currently trades at $400.86.

Read our full, actionable report on Broadcom here, it’s free.

Penguin Solutions (NASDAQ: PENG)

Based in the US, Penguin Solutions (NASDAQ: PENG) is a diversified semiconductor company offering memory, digital, and LED products.

Penguin Solutions reported revenues of $478.7 million, up 47.6% year on year. This number beat analysts’ expectations by 17.5%. Overall, it was an exceptional quarter as it also logged a beat of analysts’ EPS estimates and a solid beat of analysts’ operating income estimates.

Penguin Solutions scored the biggest analyst estimate beat among its peers. The stock is up 27.5% since reporting and currently trades at $81.38.

Read our full, actionable report on Penguin Solutions here, it’s free.

Market Update

Late in 2025 into early 2026, there was hand-wringing around artificial intelligence. For software companies, the fear was that AI would erode pricing power and compress margins as new tools made it easier to replicate what once required expensive enterprise platforms. Crypto investors had their own version of the same anxiety: if AI agents could trade, allocate capital, and manage wallets autonomously, what exactly was the long-term value of today’s crypto infrastructure?

These concerns triggered a noticeable rotation away from these sectors and into safer havens. But markets rarely dwell on one narrative for long. Spring 2026 came, and the focus shifted abruptly from technological disruption to geopolitical risk. The US’ conflict with Iran became the dominant driver of market psychology, and when geopolitics takes center stage, the script changes quickly. Investors stop debating growth rates and start worrying about oil supply, inflation, and global stability.

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