15 AI Stocks Making Waves on Wall Street

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8. QUALCOMM Incorporated (NASDAQ:QCOM)

Number of Hedge Fund Holders: 74 

QUALCOMM Incorporated (NASDAQ:QCOM) develops and sells foundational technologies for the wireless industry. The AI-capable chips of QUALCOMM are now making their way into cars and IoT devices, after powering smartphones globally. Baird analyst Tristan Gerra recently highlighted the diversification efforts of the company in an investor note, stressing that the company’s relevancy across multiple industries is increasing. Raymond James analyst Srini Pajjuri has echoed these thoughts, but noted that issues related to Apple’s modem could keep revenue/EPS growth muted for the next 2-3 years.

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