Qualcomm Poised to Ride AI Wave at a Discount to Nvidia
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Nvidia has seen tremendous growth recently thanks to its pioneering role in AI chips, but its valuation is very rich right now.
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Qualcomm is a cheaper semiconductor stock that can benefit from the growth of AI smartphones and PCs.
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AI smartphone shipments are forecasted to grow rapidly, and Qualcomm is positioned to capitalize with over 80% market share.
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Qualcomm recently announced a new AI-focused chip for Windows PCs that could compete with rivals.
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Qualcomm trades at attractive valuation multiples despite potential for AI to accelerate its growth.