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Barchart
Barchart
Mikhail Fedorov

Qualcomm Stock Is the Sleeping Giant of the AI Revolution. It’s Starting to Wake Up.

Qualcomm Apple QCOM Nvidia Tesla Inc.

When it comes to artificial intelligence (AI) chip space, Wall Street tends to list the exact same big names: Nvidia (NVDA), Advanced Micro Devices (AMD), and Intel (INTC). Amid the AI-driven market cap race, Qualcomm (QCOM) has remained in the shadows for some time; as the tech sector bloated with price-to-earnings (P/E) multiples of 50 times or more, QCOM stock traded at a modest discount.

The reason for this calm has been understandable. The market has only perceived Qualcomm as a beneficiary of the stagnating mobile sector. More than that, the company has carried a heavy overhang of risks, from intense pressure from Chinese vendors to the gradual transition of Apple (AAPL) to its own in-house chips.

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