5 Internet of Things (IoT) Stocks Billionaires Are Loading Up On

4. QUALCOMM Incorporated (NASDAQ:QCOM)

Number of Billionaire Investors: 10

QUALCOMM Incorporated (NASDAQ:QCOM) is one of the world’s largest connectivity product providers. Its semiconductors, such as modems and signals processors, are designed to be used in nearly every IoT device – particularly those utilizing 5G networks. The firm was set up in 1985 and is headquartered in San Diego, California.

Insider Monkey’s first quarter of 2023 survey covering 943 hedge funds outlined that 69 had invested in the chip designer. QUALCOMM Incorporated (NASDAQ:QCOM)’s largest hedge fund investor in our database is Panayotis Takis Sparaggis’s Alkeon Capital Management since it owns 2.5 million shares that are worth $325 million.

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