8 Cheap Semiconductor Stocks to Buy According to Hedge Funds

2. QUALCOMM Incorporated (NASDAQ:QCOM)

Forward P/E Ratio as of September 29: 13.57

Number of Hedge Fund Holders: 76

QUALCOMM Incorporated (NASDAQ:QCOM) ranks among the best cheap semiconductor stocks to buy. QUALCOMM Incorporated (NASDAQ:QCOM) reported on September 18 that it opted for Adobe GenStudio to employ generative AI to improve its content development procedures. The setup comprises GenStudio for Performance Marketing, Adobe Express, Firefly, Experience Manager, and Workfront.

Using GenStudio for Performance Marketing, QUALCOMM Incorporated (NASDAQ:QCOM) intends to produce, resize, and translate content for various marketing platforms while sticking to brand standards. Meanwhile, teams will be able to use Adobe Express as a self-service tool to design and modify assets, especially for regional and social media campaigns.

Additionally, QUALCOMM Incorporated (NASDAQ:QCOM) plans to use Adobe Experience Manager’s “Generate Variations” feature for digital channels to test various content experiences. The new apps build on QUALCOMM’s current Adobe commitment, which includes Marketo Engage for marketing automation and Adobe Workfront for workflow management.

QUALCOMM Incorporated (NASDAQ:QCOM) is a well-known American manufacturer of semiconductors and telecom equipment. The company supplies chips to major companies in a number of high-growth industries, including smartphones and autonomous vehicles.