10 AI News You Should Definitely Take a Look At

3. QUALCOMM Incorporated (NASDAQ:QCOM)

Number of Hedge Fund Holders: 74

QUALCOMM Incorporated (NASDAQ:QCOM) specializes in wireless communication technologies and has heavily invested in AI, 5G, and IoT applications, influencing multiple industries.

DBS analyst Fang Boon Foo has reaffirmed a Buy rating on Qualcomm (NASDAQ:QCOM) with a price target of $215, as per a January 23 report by TipRanks. Qualcomm’s strengths include its focus on smartphone market recovery, AI-driven smartphones with its Snapdragon 8 Elite platform, and its entry into the AI-PC market through the Snapdragon X platform. The company is also diversifying into high-growth areas like automotive, IoT, and edge networking, reducing its reliance on the smartphone sector. A strong dividend policy, capital returns, and an extended partnership with Apple through 2026 provide stability and support a positive outlook, despite challenges like weaker smartphone demand and slower recovery in China.