8 Best Socially Responsible Stocks to Buy According to Hedge Funds

5. QUALCOMM Incorporated (NASDAQ:QCOM)

Number of Hedge Fund Investors: 74

QUALCOMM Incorporated (NASDAQ:QCOM) is a prominent semiconductor and telecommunications company renowned for its advancements in wireless technology. The company generates revenue by licensing its intellectual property and selling semiconductors for mobile devices and IoT applications. QUALCOMM Incorporated’s (NASDAQ:QCOM) customers include smartphone manufacturers and technology firms.

QUALCOMM Incorporated (NASDAQ:QCOM) is capitalizing on the increasing demand for on-device artificial intelligence (AI) and edge computing. The company views edge AI as a revolutionary technology that improves the human-computer interface by delivering context, immediacy, and personalization while ensuring privacy and security. At the recent Snapdragon Summit, QUALCOMM Incorporated (NASDAQ:QCOM) presented its vision for AI-enabled edge computing and announced collaborations with Meta to support Llama 3.2 on Snapdragon-powered devices and with Amazon to create a cloud-to-edge solution for customizing and deploying AI models. The company also unveiled the Snapdragon 8 Elite which features a second-generation custom Oryon CPU and a redesigned hexagon NPU that enables advanced AI functionality in mobile devices.

QUALCOMM Incorporated (NASDAQ:QCOM) is also broadening its presence in the Industrial IoT (IIoT) market with the introduction of the Qualcomm IQ Series and the IoT Solutions Framework. These offerings are designed for next-generation industrial edge applications, providing tools for inspection, automation, robotics, and advanced computer vision. Additionally, the company has enhanced connectivity and computing power in its Networking Pro A7 Elite Platform to strengthen its capabilities in edge networking and reinforce its leadership in industrial and IoT solutions.