Is QUALCOMM, Inc. (QCOM) A Top AI Stock to Buy According to Billionaire Philippe Laffont?

QUALCOMM, Inc. (NASDAQ:QCOM) is one of the top AI stocks to buy according to billionaire Philippe Laffont. On June 29, Mizuho analyst Vijay Rakesh reiterated a Neutral rating on QUALCOMM, Inc. (NASDAQ:QCOM) and hiked the price target to $210 from $170. The new price target represents significant upside potential as the stock is trading at about $184 a share.

Is QUALCOMM, Inc. (QCOM) A Top AI Stock to Buy According to Billionaire Philippe Laffont?

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The Mizuho analyst remains bullish on the company’s long-term prospects, citing burgeoning opportunities in data centers and auto ramps. The strong demand is expected to offset potential headwinds in the company’s consumer handsets segment.

The sentiments come on the heels of Qualcomm asserting it is positioned to generate $15 billion in sales from its data center business by 2029. The robust revenue growth will come as the company moves beyond core smartphone chips. Chief Financial Officer Akash Palkhiwala expects the data center business to generate $5 billion in revenue in fiscal 2027, with $1 billion from new custom chip customers.

Qualcomm expects more than $40 billion in revenue from chips outside the smartphone stronghold by 2029, up from the previous target of $22 billion.

QUALCOMM, Inc. (NASDAQ:QCOM) is expanding from a smartphone chipmaker into a platform provider for “edge” AI (processing AI directly on devices) and data center AI infrastructure. Their AI strategy focuses heavily on power efficiency, real-time agentic AI, and software ecosystems.

While we acknowledge the risk and potential of QCOM as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than QCOM and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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