8 Best Inexpensive Stocks to Buy Right Now

1. Qualcomm Incorporated (NASDAQ:QCOM)

Forward P/E Ratio as of June 10: 12.95

Number of Hedge Fund Holders: 82

Qualcomm Incorporated (NASDAQ:QCOM) is one of the 8 Best Inexpensive Stocks to Buy Right Now. On June 9, Qualcomm announced its agreement to acquire Alphawave IP Group for an implied enterprise value of ~$2.4 billion. The acquisition will be carried out through Qualcomm’s indirect wholly-owned subsidiary, called Aqua Acquisition Sub LLC. This move aims to expand Qualcomm’s presence in the booming AI data center market and reduce its reliance on smartphone chips.

Cristiano Amon, President and CEO of Qualcomm, stated that Alphawave’s high-speed wired connectivity and compute technologies are complementary to Qualcomm’s power-efficient CPU and NPU cores, which include their next-gen custom Qualcomm Oryon CPU and Qualcomm Hexagon NPU processors. This acquisition is expected to provide key assets for Qualcomm’s expansion into data centers, where growth in AI inferencing is driving demand for high-performance, low-power computing.

Alphawave shareholders will be offered 183 pence per share in cash. This represents a premium of ~96% to Alphawave’s closing price on March 31, which was the day immediately preceding Qualcomm’s disclosure of its interest. The deal is not anticipated to face material regulatory obstacles, especially after Alphawave exited its Chinese joint venture, WiseWave, on June 9. The acquisition is expected to be completed during Q1 2026, pending certain conditions.

Qualcomm Incorporated (NASDAQ:QCOM) develops and commercializes foundational technologies for the wireless industry worldwide. It operates through 3 segments: Qualcomm CDMA Technologies/QCT, Qualcomm Technology Licensing/QTL, and Qualcomm Strategic Initiatives/QSI. Alphawave IP Group is a Canadian-founded semiconductor company domiciled in the UK. The company’s expertise includes ‘serdes’ technology, which enhances chip data-processing speeds for AI development.

While we acknowledge the potential of QCOM to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than QCOM and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None.