10 Best Augmented Reality Stocks To Buy Now

8. QUALCOMM, Inc. (NASDAQ:QCOM)

Number of Hedge Fund Holders: 74

QUALCOMM Inc. (NASDAQ:QCOM) develops and commercializes foundational technologies for the wireless industry, including 3G, 4G, and 5G wireless connectivity and high-performance and low-power computing, including on-device AI. The company operates across various high-growth markets, including autonomous vehicles and smartphones. It supplies chips to key industry players, including BMW, Huawei, and Samsung. QUALCOMM’s Snapdragon augmented reality technology is the next generation of mobile computing, merging the actual world with virtual objects to create a seamless reality.

In fiscal Q4 2024, it delivered revenue of $10.2 billion, with its chipset business accounting for a significant share: $8.7 billion. The company recently unveiled its latest flagship mobile platform Snapdragon 8 Elite, featuring its second-generation custom Oryon CPU. The release created considerable positive momentum for the company, so it expanded its portfolio further with the addition of the Snapdragon X Plus 8-core compute platform.

QUALCOMM Inc. (NASDAQ:QCOM) now has 58 platforms either in development or launched across this X series portfolio. It is working with Meta (NASDAQ:META) to enable spatial computing, as Meta’s Quest 3S is powered by the Snapdragon XR2 Gen 2. In addition, the Ray-Ban Meta glasses are also powered by Snapdragon AR1 Gen 1. They are being advanced with new AI features, such as navigation and location assistance, hands-free access to user digital lives, and real-time speech translation.

QUALCOMM Inc. (NASDAQ:QCOM) is also powering Snap Inc’s (NYSE:SNAP) recently unveiled next-generation Spectacles through the dual Snapdragon processors. These Spectacles are aimed at creators diving into advanced AR experiences.

O’keefe Stevens Advisory stated the following regarding QUALCOMM Incorporated (NASDAQ:QCOM) in its Q2 2024 investor letter:

“During the quarter, the A.I. rally broadened beyond the obvious players of Nvidia, AMD, and hyperscalers. QUALCOMM Incorporated (NASDAQ:QCOM), a long-standing investment, is gaining recognition for integrating artificial intelligence into mobile phones. Qualcomm’s A.I. on-device capabilities enable real-time language translation, improved voice recognition, and sophisticated imaging techniques as A.I. becomes more integral to mobile experiences. Qualcomm benefits by leading the market in providing robust, efficient, and versatile A.I. solutions. A.I. could be the first technology advancement in several years to accelerate the smartphone replacement cycle as users desire these advanced capabilities.”