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 AMD (NASDAQ: AMD) 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 Q4. As a group, revenues beat analysts’ consensus estimates by 2.1% while next quarter’s revenue guidance was above.

Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 7.7% since the latest earnings results.

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 $10.27 billion, up 34.1% year on year. This print exceeded analysts’ expectations by 6%. Overall, it was an exceptional quarter for the company with a beat of analysts’ EPS estimates and an impressive beat of analysts’ adjusted operating income estimates.

“2025 was a defining year for AMD, with record revenue and earnings driven by strong execution and broad-based demand for our high-performance and AI platforms,” said Dr. Lisa Su, AMD chair and CEO.

AMD 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 16.4% since reporting and currently trades at $202.38.

We think AMD is a good business, but is it a buy today? Read our full report here, it’s free.

Best Q4: 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 $993 million, up 8.4% year on year, in line with analysts’ expectations. The business had an exceptional quarter with a beat of analysts’ EPS estimates and a solid beat of analysts’ adjusted operating income estimates.

Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 6.2% since reporting. It currently trades at $77.70.

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

Weakest 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 $12.25 billion, up 5% year on year, in line with analysts’ expectations. It was a mixed quarter as it posted a significant improvement in its inventory levels but revenue guidance for next quarter missing analysts’ expectations significantly.

Qualcomm delivered the weakest performance against analyst estimates in the group. As expected, the stock is down 10.5% since the results and currently trades at $133.25.

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 $343.1 million, flat year on year. This number topped analysts’ expectations by 1.2%. Overall, it was an exceptional quarter as it also recorded a significant improvement in its inventory levels and a beat of analysts’ EPS estimates.

The stock is down 15.2% since reporting and currently trades at $18.28.

Read our full, actionable report on Penguin Solutions 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 $68.13 billion, up 73.2% year on year. This print beat analysts’ expectations by 2.9%. It was a very strong quarter as it also logged revenue guidance for next quarter exceeding analysts’ expectations and a beat of analysts’ EPS estimates.

Nvidia scored the fastest revenue growth among its peers. The stock is down 5.7% since reporting and currently trades at $184.36.

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

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