From Nasdaq Inc.: 2024-06-12 04:15:00

Amid the rise of artificial intelligence (AI), Nvidia has established itself as a top stock with a technical lead in AI chips. Despite this, Qualcomm (NASDAQ: QCOM) has also made significant AI innovations in smartphone chipsets, IoT, and automotive applications, showing growth potential in the AI market and attracting investors’ attention.

Qualcomm’s financial performance in fiscal 2024 has shown steady revenue growth of 3%, alongside a 29% increase in net income. Despite not matching Nvidia’s triple-digit growth, Qualcomm’s stock has surged by over 85% in the past year and remains attractively priced with a low P/E ratio compared to other AI chip companies.

Investors looking to capitalize on Qualcomm’s AI advancements may find a promising opportunity as the company expands into new markets like AI-powered personal computers. With potential for continued growth and a solid track record, Qualcomm’s stock could offer significant returns in the foreseeable future.

Consider the investment potential of Qualcomm before buying stock, as the Motley Fool Stock Advisor’s top 10 stock picks exclude Qualcomm, focusing on other companies for potential high returns. Investors can access expert guidance and stock recommendations through the Stock Advisor service to build a successful portfolio and achieve significant returns over time.



Read more at Nasdaq Inc.: Nvidia’s Growth Is Explosive, but Here’s Another Artificial Intelligence (AI) Stock That Could Be Worth Buying