Citi Maintains a Hold on QUALCOMM Incorporated (QCOM)

QUALCOMM Incorporated (NASDAQ:QCOM) is one of the best large cap stocks to invest in for the long term. Citi analyst Christopher Danely reiterated a Hold rating on QUALCOMM Incorporated (NASDAQ:QCOM) on November 20, setting a $180 price target.

Analyst Explains Why He’s Buying Qualcomm (QCOM) Despite Facing Hopes of Cellphone ‘Super Cycle’

Separately, in conjunction with HUMAIN, the PIF company delivering global full-stack artificial intelligence solutions, QUALCOMM Incorporated (NASDAQ:QCOM) reported on November 19 plans to open a new Qualcomm AI Engineering Center at HUMAIN in Riyadh “to support HUMAIN’s roll-out of 200 megawatts of data center capacity based on Qualcomm’s advanced Cloud AI solutions starting in 2026”.

The two previously rolled out a transformative collaboration for the deployment of advanced AI infrastructure in Saudi Arabia, powered by Qualcomm’s Cloud AI hardware and software, including the Qualcomm® AI200 and AI250 rack solutions, and providing “high-performance AI inference services at industry-leading performance per total cost of ownership (TCO)” both across the globe and in the Kingdom.

QUALCOMM Incorporated (NASDAQ:QCOM) develops and commercializes foundational technologies for the wireless industry, including 3G, 4G, and 5G wireless connectivity and high-performance and low-power computing, including on-device AI.

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. This article is originally published at Insider Monkey.