Qualcomm Inc. (NASDAQ:
QCOM) is one of the
most profitable tech stocks to invest in now. Qualcomm Inc. (NASDAQ:QCOM) presented at the Oppenheimer Technology, Internet & Communications Conference on August 12, outlining its growth trajectory in automotive and industrial IoT. Management emphasized that the company is on track to reach its $4 billion automotive revenue target ahead of schedule, supported by strong demand.
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Qualcomm Inc.’s (NASDAQ:QCOM) automotive roadmap also includes advanced ADAS silicon and safety-grade chips, underscoring its role in software-defined vehicles. Beyond autos, the company is leveraging this expertise in the industrial IoT market with its IQ series processors, aiming to generate $4 billion in revenue from this segment by 2029.
To broaden capabilities, Qualcomm Inc. (NASDAQ:QCOM) has pursued targeted acquisitions, including Edge Impulse for AI model deployment and AutoTox for V2X safety applications. These moves expand its software and hardware offerings, strengthening its positioning in connected industries.
Qualcomm Inc. (NASDAQ:QCOM) is a semiconductor technology company specializing in wireless communications. It engages in 5G technology, supplies chipsets and system-on-chip solutions for mobile devices, automotive applications, and the Internet of Things (IoT). Its Snapdragon processors are widely used across smartphones and connected devices.
While we acknowledge the potential of QCOM as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the
best short-term AI stock.
READ NEXT: Top 10 Stocks to Buy and Hold Forever and 15 Best Data Center Stocks to Buy Now.
Disclosure: None. This article is originally published at
Insider Monkey.
