Citi Maintains a Hold on QUALCOMM Incorporated (QCOM)

QUALCOMM Incorporated (NASDAQ:QCOM) is one of the best large cap stocks to invest in for the long term. Citi analyst Christopher Danely reiterated a Hold rating on QUALCOMM Incorporated (NASDAQ:QCOM) on November 20, setting a $180 price target.

Separately, in conjunction with HUMAIN, the PIF company delivering global full-stack artificial intelligence solutions, QUALCOMM Incorporated (NASDAQ:QCOM) reported on November 19 plans to open a new Qualcomm AI Engineering Center at HUMAIN in Riyadh “to support HUMAIN’s roll-out of 200 megawatts of data center capacity based on Qualcomm’s advanced Cloud AI solutions starting in 2026”.

The two previously rolled out a transformative collaboration for the deployment of advanced AI infrastructure in Saudi Arabia, powered by Qualcomm’s Cloud AI hardware and software, including the Qualcomm® AI200 and AI250 rack solutions, and providing “high-performance AI inference services at industry-leading performance per total cost of ownership (TCO)” both across the globe and in the Kingdom.

QUALCOMM Incorporated (NASDAQ:QCOM) develops and commercializes foundational technologies for the wireless industry, including 3G, 4G, and 5G wireless connectivity and high-performance and low-power computing, including on-device AI.

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: 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.