Best 3 AI Stocks for Q2 2026 Earnings: AMD, Palantir, Qualcomm

 

Why Is Q2 2026 a Defining Moment for the AI Sector?

Tech earnings season is no longer limited to tracking the performance of the Magnificent Seven in the United States. Recent months have seen a marked shift in where attention is focused within the artificial intelligence sector.

 

While the mega-cap companies face mounting challenges:

• Expectations that high interest rates will persist.
• Rising AI component costs.
• Record market valuations raising questions about growth sustainability.

 

In contrast, new companies have emerged as key players in the AI race, benefiting from surging demand for high bandwidth memory (HBM) chips, the expansion of AI applications in the defence sector, and intensifying competition in developing custom AI chips for personal devices and data centres.

 

The question in markets is no longer whether AI will continue to lead the technology growth wave, but rather which companies are most capable of converting that momentum into sustainable profits, who has the fundamentals to deliver positive surprises this earnings season, and whose growth expectations are already fully priced in.

 

Three AI Companies Reporting Q2 2026 Results

 

1. AMD — Can It Close the Gap with Nvidia?

AMD is one of the most prominent competitors to Nvidia in the AI processor market, and its Q2 results represent a decisive test of its ability to cement its position in this fast-growing sector.

 

What Is AMD Betting On in 2026?

• The MI400 series to compete with Nvidia's latest chips.
• Launching the Helios rack-scale data centre platform in Q3 2026.
• Strengthening its presence in the AI infrastructure market.

 

What Is the Most Important Number in AMD's Results?

Investor focus will centre on data centre segment revenue, which reached $5.8 billion last quarter, with expectations of further growth in Q2. However, this growth faces a key challenge: securing sufficient quantities of HBM4 memory, which has become one of the scarcest components in the AI supply chain.

 

Any delay in obtaining this memory could affect the Helios launch timeline and limit AMD's ability to narrow the gap with Nvidia.

 

AMD Technical Analysis

AMD weekly chart — Source: TradingView

Technically, AMD is trading in a sideways range near its all-time high at $584, signalling investors are waiting for earnings.

 

If results and forward guidance come in stronger than expected, the rally could resume, breaking above $584 and pushing toward new record levels above $600.

 

Trade AMD with Pepperstone

 

2. Palantir — Will Defence AI Keep Supporting the Stock?

Despite Palantir's stock decline this year, the company's operational momentum remains strong, supported by continued robust revenue growth and expanding business in defence and artificial intelligence.

 

What Are Palantir's Latest Developments?

• A strategic partnership with Nvidia to deploy sovereign AI solutions on air-gapped government systems.
• Expanding its cooperation with the US Army.
• Benefiting from rising global defence spending.
• Growing interest in AI applications across military and security domains.

 

What Metric Will Markets Focus On?

Market focus will be on the company's ability to continue expanding beyond the government sector, particularly in the US commercial market, after that segment posted exceptional growth in Q1.

 

If Palantir maintains this momentum, it could reinforce investor confidence in growth sustainability and justify its elevated valuations. Any notable slowdown, however, could prompt markets to re-evaluate the valuation premium the stock enjoys.

 

Palantir Technical Analysis

Palantir weekly chart — Source: TradingView

Technically, the stock is trading near pivotal support and resistance levels between $110 and $160, making earnings a decisive factor for its next direction.

 

Strong results accompanied by optimistic guidance could push the stock to resume its uptrend and break $160 resistance toward $200. Conversely, results or guidance below expectations could trigger renewed selling pressure, abandoning the $110 support and losing the historical $100 support.

 

Trade Palantir with Pepperstone

 

3. Qualcomm — From Smartphone Giant to AI Player?

Qualcomm is undergoing one of the most significant transformations in its history, after announcing at its June 2026 Investor Day an ambitious strategy to double revenue from non-smartphone activities to $40 billion by 2029.

 

The company also revealed plans to enter the AI data centre market, confirming that its first shipments to major cloud providers (hyperscalers) remain on schedule for this year.

 

Which Two Indicators Will Markets Watch?

1. Demand recovery in the smartphone market, especially in China.
2. The company's adherence to its AI data centre solution delivery schedule.

 

Success on both fronts could strengthen Qualcomm's position as a promising AI sector player, while any delay or slowdown could keep it viewed as a company primarily dependent on its smartphone business.

 

Qualcomm Technical Analysis

Qualcomm weekly chart — Source: TradingView

Technically, the stock is attempting to form a new price base after its recent correction, awaiting a strong catalyst to restore buying momentum.

 

Strong results alongside positive forward guidance could serve as a launchpad for resuming the uptrend toward $260, while any disappointment could increase pressure on the stock and push investors to reassess its AI growth prospects, potentially driving it toward $120.

 

Trade Qualcomm with Pepperstone

 

Full Comparison: AMD vs Palantir vs Qualcomm

 

Frequently Asked Questions

 

Open Your Pepperstone Account