5 Best Internet of Things (IoT) Stocks To Buy Now

1. Qualcomm, Inc. (NASDAQ:QCOM)

No of HFs: 87

Total Value of HF Holdings: $10 Billion

Qualcomm ranks number one on our list of best internet of things stocks to buy now. The company is a manufacturer of multinational semiconductor and telecommunications equipment. Their products include processors, modems, RF systems, and alike. QCOM was mentioned as of the 30 Most Popular Stocks Among Hedge Funds: 2020 Q3 Rankings.

Check out this article where we mentioned Del Principe O’Brein Financial Advisors’ comments on the stock,

“When Qualcomm was trading in the low $50s, we bought every share we could. Qualcomm stock rose to around $70 when Broadcom was set to acquire the company, but ultimately the deal did not go through. In April of this year, Qualcomm ended a lengthy and complicated legal battle with Apple over the licensing of Qualcomm’s chip technology in Apple’s mobile devices, including its iPhones. The settlement included a payout from Apple to Qualcomm rumored to be around $6 billion, as well as a six-year licensing agreement and a supply agreement guaranteeing that the chipmaker continue to provide its products to the largest company in the world. With this settlement and the expected increase in product shipments, Qualcomm anticipates an incremental earnings per share of $2. As Qualcomm shareholders, we were able to realize a gain of 54% over a short period of time.”

Please also see 10 Best Dow Stocks to Buy Now and 12 Best Autonomous Vehicle Stocks to Buy Now.

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