15 Best and Cheap Stocks to Buy According to Billionaires

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5. QUALCOMM Incorporated (NASDAQ:QCOM)

Forward P/E Ratio: 13.59

No. of Billionaire Investors: 19

QUALCOMM Incorporated (NASDAQ:QCOM) develops and commercializes essential wireless technologies worldwide. The company operates through three segments including Qualcomm CDMA Technologies (QCT), Qualcomm Technology Licensing (QTL), and Qualcomm Strategic Initiatives (QSI). Its QCT segment offers chips for mobile, automotive, and IoT devices. QTL licenses its patent portfolio for wireless standards like 5G. Whereas, QSI invests in early-stage tech companies across various sectors, including AI and automotive, and also serves U.S. government agencies.

Qualcomm recently signed an agreement to acquire EdgeImpulse Inc. to strengthen its AI capabilities for IoT. EdgeImpulse will improve Qualcomm’s developer tools and support over 170,000 developers in creating AI-powered applications for edge devices.

As QUALCOMM Incorporated (NASDAQ:QCOM) continues to thrive in the growing AI and chip-making market, it delivered another strong quarter. In Q1 FY2025, the company posted a record revenue of $11.7 billion, with non-GAAP EPS of $3.41 per share. QTL generated around $1.5 billion in revenue with a 75% EBT margin, in line with analyst estimates. QCT posted a record revenue of $10.1 billion. The company continues to meet the strong demand for premium Android smartphones driven by the success of the Snapdragon 8 Elite platform. The company continues to remain a market leader in the cellular baseband processor market.

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