New York, February 13, 2026, 12:20 EST — Regular session
- Qualcomm shares rose about 2% mid-session as markets took in a cooler U.S. inflation print.
- Chip stocks steadied after Applied Materials’ upbeat forecast reignited demand for semiconductor names.
- Investors now turn to a shortened U.S. trading week and key U.S. data due Feb. 20.
Qualcomm shares were up 1.7% at $140.89 in midday trading on Friday, after closing at $138.47 in the prior session. The stock traded between $136.55 and $141.10.
The move came as investors digested U.S. inflation data that came in softer than expected at the headline level. The Consumer Price Index rose 0.2% in January, while “core” CPI — which strips out food and energy — increased 0.3%, the Labor Department said. (Reuters)
Chip names also found support after Applied Materials jumped after forecasting second-quarter results above Wall Street estimates, pointing to demand tied to artificial intelligence and a tightening memory market. CEO Gary Dickerson said the outlook was “fueled by the acceleration” of industry investment in AI computing, and the report lifted peers including Lam Research and KLA. (Reuters)
That helped reverse some of the sour mood from Thursday, when U.S. stocks sold off sharply and the Nasdaq slid about 2% as investors leaned into a new round of “AI disruption” worries. “We see this as a ‘prove it’ year for AI,” said Jack Herr, a primary investment analyst at GuideStone Funds. (Reuters)
Qualcomm has been under pressure this month after warning that a global memory supply shortage was hitting smartphone demand and pulling down its near-term outlook. CEO Cristiano Amon told Reuters, “I’m very happy with the business — I just wish we had more memory,” while TECHnalysis Research chief analyst Bob O’Donnell said the crunch could weigh on the company for “the next several quarters,” particularly through some Chinese customers. (Reuters)
Markets are also still trying to pin down how quickly the Federal Reserve can ease. “The inflation report is better than expected,” Phil Orlando, chief market strategist at Federated Hermes, said, while others warned that underlying price pressures in “supercore” services — core services excluding shelter — could complicate the rate-cut path. (Reuters)
Still, a cooler headline print does not settle Qualcomm’s near-term question: whether handset makers keep trimming builds if memory costs stay high and supply stays tight. A rebound in Treasury yields would also test the risk-on bid that has been propping up parts of the tech complex.
Next week could stay jumpy. Art Hogan, chief market strategist at B Riley Wealth, called it a “whack-a-mole game” as investors try to guess what AI might disrupt next, while earnings — including Walmart — are set to offer another read on consumer demand. (Reuters)
The U.S. stock and bond markets will be closed on Monday, Feb. 16, for Presidents’ Day, with trading set to resume on Tuesday. (Investopedia)
The next macro test is scheduled for Feb. 20, when the Bureau of Economic Analysis is due to publish its advance estimate of fourth-quarter GDP and the Personal Income and Outlays report, which includes the Personal Consumption Expenditures price index — the inflation gauge the Fed tracks closely for its 2% target. (Bea)
