As the craze of earnings season draws to a close, here’s a look back at some of the most exciting (and some less so) results from Q4. Today, we are looking at processors and graphics chips stocks, starting with Intel (NASDAQ: INTC).

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 12,479% above.

Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 10.4% since the latest earnings results.

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 $13.67 billion, down 4.1% year on year. This print exceeded analysts’ expectations by 2%. Overall, it was a strong quarter for the company with a beat of analysts’ EPS estimates and a solid beat of analysts’ adjusted operating income estimates.

“Our conviction in the essential role of CPUs in the AI era continues to grow,” said Lip-Bu Tan, Intel CEO.

Intel delivered the slowest revenue growth of the whole group. Unsurprisingly, the stock is down 15.8% since reporting and currently trades at $45.72.

Is now the time to buy Intel? Access our full analysis of the earnings results 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 an impressive 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 5.7% since reporting. It currently trades at $78.10.

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 12.7% since the results and currently trades at $129.92.

Read our full analysis of Qualcomm’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 $19.31 billion, up 29.5% year on year. This result topped analysts’ expectations by 0.5%. Overall, it was a strong quarter as it also logged revenue guidance for next quarter exceeding analysts’ expectations and a narrow beat of analysts’ adjusted operating income estimates.

The stock is up 1.1% since reporting and currently trades at $321.05.

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

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 $145.8 million, up 24.2% year on year. This print beat analysts’ expectations by 1.8%. It was a very strong quarter as it also recorded revenue guidance for next quarter exceeding analysts’ expectations and a significant improvement in its inventory levels.

The stock is down 5.8% since reporting and currently trades at $85.72.

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

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