5 Best Quantum Computing Stocks to Buy Now

4. Qualcomm, Inc. (NASDAQ:QCOM)

No of HFs: 87

Total Value of HF Holdings: $2.58 Billion

The top hedge fund holder of this stock is Paul Cantor, Joseph Weiss and Will Wurm’s Beech Hill Partners’ which had $5 million invested in the stock at the end of December. An insider purchased 500 shares at around $84 in December 2019. The stock is up 92% since then. The stock was mentioned as one of the 30 Most Popular Stocks Among Hedge Funds: 2020 Q3 Rankings. In an article, Del Principe O’Brien Financial Advisors mentioned QCOM.

“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.”