As the Q4 earnings season comes to a close, it’s time to take stock of this quarter’s best and worst performers in the processors and graphics chips industry, including Qualcomm (NASDAQ: QCOM) 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 8 processors and graphics chips stocks we track reported a strong Q4. As a group, revenues beat analysts’ consensus estimates by 2.4% while next quarter’s revenue guidance was in line.

In light of this news, share prices of the companies have held steady as they are up 2.5% on average since the latest earnings results.

Best Q4: 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 $11.67 billion, up 17.5% year on year. This print exceeded analysts’ expectations by 6.7%. Overall, it was an exceptional quarter for the company with a significant improvement in its inventory levels and an impressive beat of analysts’ EPS estimates.

Qualcomm scored the biggest analyst estimates beat 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 10.4% since reporting and currently trades at $157.65.

We think Qualcomm is a good business, but is it a buy today? Read our full report 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 $14.26 billion, down 7.4% year on year, outperforming analysts’ expectations by 3.3%. The business had a very strong quarter with a solid beat of analysts’ EPS estimates and an impressive beat of analysts’ adjusted operating income estimates.

The market seems happy with the results as the stock is up 29.8% since reporting. It currently trades at $26.06.

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

Slowest Q4: 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 $117.4 million, down 31.2% year on year, in line with analysts’ expectations. It was a slower quarter as it posted a significant miss of analysts’ adjusted operating income and EPS estimates.

Lattice Semiconductor delivered the weakest performance against analyst estimates and slowest revenue growth in the group. Interestingly, the stock is up 15.1% since the results and currently trades at $62.61.

Read our full analysis of Lattice Semiconductor’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 $14.92 billion, up 24.7% year on year. This print beat analysts’ expectations by 2.1%. Overall, it was a strong quarter as it also logged an impressive beat of analysts’ EPS estimates and a solid beat of analysts’ adjusted operating income estimates.

The stock is up 7.1% since reporting and currently trades at $192.13.

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

AMD (NASDAQ: AMD)

Founded in 1969 by a group of former Fairchild semiconductor executives led by Jerry Sanders, Advanced Micro Devices (NASDAQ: AMD) is one of the leading designers of computer processors and graphics chips used in PCs and data centers.

AMD reported revenues of $7.66 billion, up 24.2% year on year. This number topped analysts’ expectations by 1.5%. However, it was a mixed quarter as its performance in some other areas of the business was disappointing.

The stock is down 12.1% since reporting and currently trades at $105.15.

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

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