Qualcomm Inc. (NASDAQ:QCOM) is one of the top tech stocks in billionaire Ken Fisher’s portfolio. On May 5, Aletheia Capital reiterated a Hold rating on Qualcomm (NASDAQ:QCOM) in response to the company’s gains in the artificial intelligence business, driven by CPU and ASIC performance.
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Presenting its fiscal second quarter results, Qualcomm reiterated that it is in a phase of solid growth amid opportunities in data centers and physical artificial intelligence. Similarly, Aletheia Capital believes the company is ready to produce various types of AI chips, including lower-powered CPUs and accelerators. The acquisition of Nuvia in 2021 and Alphawave in 2025, backed by their expertise in edge computing processors, affirms the company’s growth prospects.
The research firm expects Qualcomm to benefit from demand for AI semiconductors, moving from powerful accelerators such as GPUs and ASICs to various types of chips, including CPUs and LPUs. Furthermore, the long-term prospects remain intact as cloud service providers have partners for next-generation ASICs that serve different purposes.
Qualcomm Inc. (NASDAQ:QCOM) is a leader in wireless technology and semiconductor design, primarily powering mobile devices, IoT and automotive systems with high-performance, low-power computing. It specializes in Snapdragon processors, 5G modems and AI-enabled chips, driving the “connected edge” for smartphones, laptops, vehicles and robotics.
While we recognize QCOM’s potential as an investment, we believe certain AI stocks offer greater growth potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that’s also benefiting significantly from Trump-era tariffs and the offshoring trend, check out our free report on best short-term AI stock.
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