Qualcomm (QCOM) Holds ‘Overweight’ Rating—Here’s What’s Keeping Investors Confident

QUALCOMM Incorporated (NASDAQ:QCOM) is one of the Trending AI Stocks on Wall Street.  On July 31, Piper Sandler analyst Harsh Kumar lowered the firm’s price target on the stock to $175 from $190 and kept an “Overweight” rating on the shares.

The firm noted how Qualcomm has delivered slightly above expectations with guidance largely in-line with estimates. It has been implementing its diversification well, and is poised for growth in key areas such as auto and IoT.

Qualcomm (QCOM) Holds ‘Overweight’ Rating—Here’s What’s Keeping Investors Confident

QUALCOMM Incorporated (NASDAQ:QCOM) develops wireless technologies, supplies chips for mobile, automotive, and IoT, licenses patents, and invests in emerging tech.

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.

READ NEXT: 10 Must-Watch AI Stocks on Wall Street  and 10 AI Stocks Gaining Attention on Wall Street.

Disclosure: None.