Top 10 Growth Stocks in David Tepper’s Portfolio

7. Qualcomm Inc (NASDAQ:QCOM)

Appaloosa Management LP’s Equity Stakes: $122.90 Million

Number of Hedge Fund Holders: 79

Qualcomm Inc (NASDAQ:QCOM) is a semiconductor giant known for developing and licensing chipsets, processors, modems, and RF systems for mobile devices, automotive, computing, and IoT. It is one of the top growth stocks in Appaloosa Management LP’s portfolio as a leader in smartphone chipsets.

Qualcomm Inc (NASDAQ:QCOM) has sought to strengthen its growth metrics by releasing its AI-enabled Snapdragon 3 Gen 8 mobile processor. Revenue growing by double-digit levels in the last three quarters underscores the robust underlying growth. Revenue for its fiscal Q1 ended December 29 increased 17% to $11.67 billion. Its semiconductor sector (QCT) saw a 20% increase in revenue to $10.1 billion. Vehicle revenue jumped 61% to $961 million as revenue from the Internet of Things (IoT) increased 36% to $1.5 billion.

Qualcomm Inc (NASDAQ:QCOM) attributed its substantial handset revenue to increased sales of high-end Android smartphones, like the Samsung Galaxy S25 models running on its Snapdragon 8 Elite platform. Additionally, it stated that its sales to Chinese clients remain strong due to the country’s growing premium market.