QUALCOMM Incorporated (QCOM)'s On Fire Due To AI, Says Jim Cramer

We recently published 10 Stocks Jim Cramer Discussed As He Revealed How Canada Has Harmed The US. QUALCOMM Incorporated (NASDAQ:QCOM) is one of the stocks Jim Cramer recently discussed.

QUALCOMM Incorporated (NASDAQ:QCOM) is one of the biggest chip design companies in the world. The firm holds a commanding market share in the Android smartphone processor and GPU market. QUALCOMM Incorporated (NASDAQ:QCOM)’s shares depend to a large extent on Chinese smartphone performance and have gained a modest 6.3% year-to-date. In his remarks, Cramer discussed the firm’s shares in the context of the broader AI-led bullishness in semiconductor stocks:

“It’s the AI-related chips that are on fire today. . .Qualcomm. . .moving up again. . .Let’s again speak of the stock market rather than Sweden’s gonna do, what’s happening in Sweden. The stock market is reacting incredibly positively to stuff and there are people who don’t want to react to it or think that somehow those points aren’t valuable. I think they’re crazy. We’re having a good rally.”

Cramer previously discussed QUALCOMM Incorporated (NASDAQ:QCOM) in February after an interview given by the firm’s CEO:

“I did not find Qualcomm disconcerting because it was interviewed, he was interviewed with Jon Fortt and he’s a bit promotional but I do think he’s gotten what he needs.”

While we acknowledge the potential of QCOM as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.