10 Most Profitable NASDAQ Stocks Today

5. QUALCOMM, Incorporated (NASDAQ:QCOM)

Number of Hedge Fund Holders: 80

Net Income (TTM) as of September 30, 2022: $12.93 billion

At the end of the third quarter of 2022, QUALCOMM, Incorporated (NASDAQ:QCOM) was a part of 80 investors’ portfolios that disclosed positions worth $2.56 billion in the company. As of December 31, Matrix Capital Management is the largest shareholder in the company and owns over 3.3 million shares.

QUALCOMM, Incorporated (NASDAQ:QCOM) is one of the 5 most profitable NASDAQ stocks today. For fiscal 2022, the company’s net income amounted to $12.93 billion. As of February 17, QUALCOMM, Incorporated (NASDAQ:QCOM) has gained 19.14% year to date.

Here is what Madison Funds had to say about QUALCOMM Incorporated (NASDAQ:QCOM) in its fourth-quarter 2022 investor letter:

“QUALCOMM Incorporated (NASDAQ:QCOM) continues to be challenged by headwinds in the smartphone supply chain with an expected decline in units for 2022. Despite solid gains in the Internet of Things and Auto segments, Qualcomm’s dominant business remains the smartphone market. We expect to see stabilization of the smartphone market in 2023, including a recovery in China.”