Jim Cramer Breaks Silence On DeepSeek AI Sell-Off & Discusses These 12 Stocks

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6. QUALCOMM Incorporated (NASDAQ:QCOM)

Number of Hedge Fund Holders In Q3 2024: 74

QUALCOMM Incorporated (NASDAQ:QCOM) is one of the largest semiconductor designers in the world. The firm’s shares struggled in 2024 and closed the year with just 8.7% in gains primarily due to sluggishness in the global smartphone market. More than two-thirds of its revenue comes from the smartphone industry, and the woes were exacerbated due to the slowdown in China. However, QUALCOMM Incorporated (NASDAQ:QCOM)’s smartphone exposure also meant that the stock was unfazed as investors rotated out of enterprise-facing AI stock names. The share performance didn’t skip Cramer’s attention either:

“What are the second day’s rally? It’s very cheap, Apple not going down, Qualcomm not going down makes no sense whatsoever but there are adherents of Qualcomm.”

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