5 Best Augmented Reality Stocks to Invest In

4. QUALCOMM Incorporated (NASDAQ:QCOM)

Number of Hedge Fund Holders: 80

QUALCOMM Incorporated (NASDAQ:QCOM) is a California-based company engaged in the development and commercialization of foundational technologies for the wireless industry worldwide. The company offers Snapdragon AR technology, which is the next generation of mobile computing, merging the real world with virtual objects for a seamless digital experience. QUALCOMM Incorporated (NASDAQ:QCOM) is one of the best augmented reality stocks to invest in. 

On November 16, QUALCOMM Incorporated (NASDAQ:QCOM) disclosed its first augmented reality platform for glasses, Snapdragon AR2 Gen 1. The new platform uses 50% less power and two and half times the artificial intelligence performance of its XR2 Gen 1 platform, which will enable the glasses to use less than 1 watt of power.

Credit Suisse analyst Chris Caso on November 15 initiated coverage of QUALCOMM Incorporated (NASDAQ:QCOM) with an Outperform rating and a $150 price target. The company has near-term, intermediate-term, and longer-term catalysts for share gains, the analyst told investors. 

Among the hedge funds tracked by Insider Monkey, QUALCOMM Incorporated (NASDAQ:QCOM) was part of 80 public stock portfolios at the end of September 2022, compared to 71 in the prior quarter. David Goel and Paul Ferri’s Matrix Capital Management is a prominent stakeholder of the company, with 3.3 million shares worth $377 million. 

In its Q4 2021 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and QUALCOMM Incorporated (NASDAQ:QCOM) was one of them. Here is what the fund said:

“Market strength continued in the fourth quarter, with only the communication services sector down in the Russell 1000 Value Index. Portfolio returns benefited from the strong performance of semiconductor maker QUALCOMM Incorporated (NASDAQ:QCOM), which has executed exceptionally well in pursuing the transition to 5G, growing both content and share due to its leadership position in cellular technology. The chipmaker recently outlined a number of peripheral growth opportunities outside of mobile markets, including automotive (where it hopes to leverage its strong presence in the automotive infotainment space into advanced driver assistance systems), Internet of Things (including opportunities in the PC market, VR/AR market, and factory automation) and radio frequency (where mmWave adoption globally, including China, would drive substantial upside).”