30 Most Important AI Stocks According to BlackRock

15. QUALCOMM Incorporated (NASDAQ:QCOM)

Number of Hedge Fund Holders: 100 

QUALCOMM Incorporated (NASDAQ:QCOM) develops and sells foundational technologies for the wireless industry. Latest reports reveal that the company is exploring the possibility of buying the chip design business of Intel in a bid to improve the AI product line. One of the favored investments of the mobile chipmaker includes the design operations at the client PC design division of Intel. Analysts have predicted that the server business of Intel does not align with the long-term strategic goals of QCOM. Shipments for AI-enabled PCs are expected to rise in the coming months, with Microsoft and Apple dominating that market.

Wall Street remains bullish on QUALCOMM Incorporated (NASDAQ:QCOM) for the long term. Rosenblatt recently raised the price target on the stock to $250 from $240 and kept a Buy rating, noting the solid beat and raise quarter of the chipmaker as it aims to increase market share in premium Android handsets, Automotive cockpit, and the PC. The advisory further added that the next phase of AI growth was at the network edge, where the company was well positioned.