5 Best Space Stocks to Buy According to Hedge Funds

3. QUALCOMM Incorporated (NASDAQ:QCOM)

Number of Hedge Fund Holders: 71

QUALCOMM Incorporated (NASDAQ:QCOM) is an American company that is responsible for manufacturing the bulk of smartphone processors, graphics processing units (GPUs), and modems used in Android devices. The company is headquartered in San Diego, California.

While QUALCOMM Incorporated (NASDAQ:QCOM) is primarily associated with consumer technology, the firm has also played a crucial role in the astronautics sector. The company’s Qualcomm Flight Platform, originally designed for consumer robotics, helped NASA’s Ingenuity helicopter make the first powered flight on Mars last year, using altitude and accelerometer sensor data to calibrate the helicopter to Mars’ complicated atmospheric pressure and gravity.

QUALCOMM Incorporated (NASDAQ:QCOM)’s software is also used by NASA’s Perseverance rover, which lets it process the images that are received from the helicopter. Insider Monkey’s June quarter of 2022 survey of 895 hedge funds revealed that 71 had held a stake in QUALCOMM Incorporated (NASDAQ:QCOM).

QUALCOMM Incorporated (NASDAQ:QCOM)’s largest investor is Panayotis Takis Sparaggis’s Alkeon Capital Management which owns 4.2 million shares that are worth $541 million.