Below are Billionaire Chris Rokos’ top 5 stock picks. For a comprehensive list and Rokos’ business strategy please see Billionaire Chris Rokos’ Top 10 Stock Picks.
5. QUALCOMM Incorporated (NASDAQ: QCOM)
The London-based hedge fund first initiated a position in Qualcomm Inc (NASDAQ: QCOM) during the third quarter and left its position unchanged during the fourth quarter. QCOM is ranked fifth in the list of billionaire Chris Rokos’ top 10 stock picks for 2021.
In the Q4 investors’ letter, Alger Spectra Fund stated that QUALCOMM has more upside ahead amid robust demand for chips. Here is what Alger Spectra Fund said:
“Qualcomm is a leading semiconductor company with strong positions in telecommunications end markets that position the company as a primary beneficiary of the innovative 5G network standard rollout. Qualcomm is commonly acknowledged as having the best technology specs for 5Gchipsets as evidenced by signing up all 75 major original equipment manufacturers of telephone handsets including Apple. Additionally, beyond handsets, Qualcomm is positioned to generate growth from automobile manufacturers, the Internet of Things, gaming and other markets.
The shares contributed to performance because Qualcomm’s earnings beat expectations in the face of coronavirus driven declines in the broad handset market. Importantly, the market is improving as the magnitude of handset declines is diminishing sequentially. Qualcomm’s fundamentals are benefitting from a faster-than-expected shift to the 5G standard. As such, the company’s 5G guidance exceeded expectations.”