Blackrock’s 30 Most Important AI Stocks

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16. QUALCOMM Incorporated (NASDAQ:QCOM)

Number of Hedge Fund Holders: 74 

QUALCOMM Incorporated (NASDAQ:QCOM) develops and sells foundational technologies for the wireless industry. This company stands out as a worthwhile investment due to a combination of favorable factors. Firstly, as per the report of the fourth quarter of 2024, the reported revenue was $39 billion, up 8.8% from FY 2023, and net income was $10.1 billion, up 38% from FY 2023. In addition, the company’s unique position at the edge is driving access to an expanded Total Addressable Market of approximately $900 billion by 2030, with more than 50 billion cumulative connected edge device shipments expected from 2024 through 2030. Secondly, another investment potential initiative is the partnership of the company with Alphabet, offering a combination of chips and software that will let automakers develop their own AI voice assistants using technology from the two firms.

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