AI infrastructure demand is still in early stages, benefiting companies like Micron and Qualcomm. Micron saw 56% revenue growth in Q1 of fiscal 2026. Demand for its memory solutions outpaces supply, with strong pricing power. Qualcomm delivered $44 billion revenue in fiscal 2025 and is well-positioned in AI PC and automotive markets.

Global AI market expected to grow from $390.9 billion in 2025 to $3.5 trillion by 2033. Companies investing in AI infrastructure for long-term growth potential. Micron and Qualcomm trade at reasonable valuations. Micron’s focused execution and strong financials make it a worthwhile pick. Qualcomm’s diversified AI semiconductor play shows promise in various markets.

Goldman Sachs estimates hyperscalers to spend $527 billion on AI-related capex in 2026. Micron benefits from multi-year AI infrastructure buildout. Company’s focus on disciplined execution and strong financials contribute to its market-leading position. Micron stock trades at 8.6 times forward earnings, offering potential in the AI market.

Qualcomm commercializing 150 Snapdragon-powered AI PC designs in 2026. Introduction of Snapdragon X2 Plus processors expands AI PC capabilities to wider price points. Company sees significant opportunity in automotive segment and AI data centers. Trading at 12.8 times forward earnings, Qualcomm stock is seen as a reasonably valued AI play in 2026.

Read more at Yahoo Finance: These AI Stocks Could Lead the Next Bull Market, and They Are Still Cheap