Wrapping up Q1 earnings, we look at the numbers and key takeaways for the processors and graphics chips stocks, including Lattice Semiconductor (NASDAQ: LSCC) 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.

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.

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. This print exceeded analysts’ expectations by 3.6%. Overall, it was a stunning quarter for the company with a significant improvement in its inventory levels and a beat of analysts’ EPS estimates.

Ford Tamer, Chief Executive Officer, said, "We delivered record first quarter revenue growth, led by increased demand across all of our end markets. As we had committed, we grew non-GAAP earnings faster than revenue, achieving 86% year over year EPS growth. Our Compute and Communications business achieved record revenue, while our Industrial and Embedded business growth exceeded 20% quarter over quarter. When taken together with our strong backlog, continued design win momentum and leadership in small and mid-range FPGAs, we believe we are in the early stages of a multi-year growth cycle and are well positioned to deliver sustained, above-market growth in 2026 and beyond."

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 1.6% since reporting and 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.

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, outperforming analysts’ expectations by 9.6%. The business had an exceptional quarter with a beat of analysts’ EPS and operating income estimates.

Intel scored the highest guidance raise of the whole group. The market seems happy with the results as the stock is up 46.1% since reporting. It currently trades at $97.56.

Is now the time to buy Intel? 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.

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 number surpassed analysts’ expectations by 1%. It was a very strong quarter as it also recorded a beat of analysts’ EPS and operating income estimates.

Qorvo had the slowest revenue growth in the group. 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.

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 result topped analysts’ expectations by 3.5%. Overall, it was a very strong quarter as it also produced revenue guidance for next quarter exceeding analysts’ expectations and a beat of analysts’ EPS estimates.

Nvidia delivered the fastest revenue growth among its peers. The stock is down 9.1% since reporting and currently trades at $203.06.

Read our full, actionable report on Nvidia 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 Strong Momentum Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.