As the craze of earnings season draws to a close, here’s a look back at some of the most exciting (and some less so) results from Q1. Today, we are looking at processors and graphics chips stocks, starting with Nvidia (NASDAQ: NVDA).
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.
In light of this news, share prices of the companies have held steady as they are up 3.4% on average since the latest earnings results.
Nvidia (NASDAQ: NVDA)
Founded in 1993 by Jensen Huang and two former Sun Microsystems engineers, Nvidia (NASDAQ: NVDA) is a leading fabless designer of chips used in gaming, PCs, data centers, automotive, and a variety of end markets.
Nvidia reported revenues of $81.62 billion, up 85.2% year on year. This print exceeded analysts’ expectations by 3.5%. Overall, it was a very strong quarter for the company with revenue guidance for next quarter exceeding analysts’ expectations and a beat of analysts’ EPS estimates.
“The buildout of AI factories — the largest infrastructure expansion in human history — is accelerating at extraordinary speed,” said Jensen Huang, founder and CEO of NVIDIA.
Nvidia pulled off the fastest revenue growth of the whole group. Investor expectations, however, were likely higher than Wall Street’s published projections, leaving some wishing for even better results (analysts’ consensus estimates are those published by big banks and advisory firms, not the investors who make buy and sell decisions). The stock is down 9.1% since reporting and currently trades at $203.06.
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.
Although it had a fine quarter compared to its peers, the market seems unhappy with the results as the stock is down 1.6% since reporting. It currently trades at $123.51.
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 among its peers. Interestingly, the stock is up 9.7% since the results and currently trades at $171.07.
Read our full analysis of Qualcomm’s results here.
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 print topped analysts’ expectations by 17.5%. Overall, it was an exceptional quarter as it also recorded a beat of analysts’ EPS estimates and a solid beat of analysts’ operating income estimates.
Penguin Solutions scored the biggest analyst estimate beat in the group. The stock is down 15.2% since reporting and currently trades at $53.18.
Read our full, actionable report on Penguin Solutions here, it’s free.
Qorvo (NASDAQ: QRVO)
Formed by the merger of TriQuint and RF Micro Devices, Qorvo (NASDAQ: QRVO) is a designer and manufacturer of RF chips used in almost all smartphones globally, along with a variety of chips used in networking equipment and infrastructure.
Qorvo reported revenues of $808.3 million, down 7% year on year. This result beat analysts’ expectations by 1%. It was a very strong quarter as it also produced a beat of analysts’ EPS estimates and an impressive beat of analysts’ operating income estimates.
Qorvo had the slowest revenue growth among its peers. The stock is down 12.3% since reporting and currently trades at $84.51.
Read our full, actionable report on Qorvo here, it’s free.
Market Update
Over the past year, investors have been forced to repeatedly answer the same question: what is the market’s biggest risk? The answer has changed several times, and each shift has reshaped market leadership.
Late in 2025 and early 2026, artificial intelligence became the market’s primary uncertainty. Investors questioned whether AI would erode software pricing power and weaken competitive moats as AI made it easier to replicate once-differentiated products.
By the spring, technology took a back seat to geopolitics. The U.S. conflict with Iran briefly became the market’s dominant narrative, raising concerns about oil prices, inflation, and global growth. But as energy markets remained orderly and fears of a prolonged supply disruption faded, investors quickly turned their focus back to fundamentals.
Want to invest in winners with rock-solid fundamentals? Check out our Top 5 Quality Compounder Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.
