Qualcomm (QCOM) is Benefitting from AI Integration into Mobile Phones

O’keefe Stevens Advisory, an investment advisory firm, released its second-quarter 2024 investor letter. A copy of the same can be downloaded here. Ongoing expectations of near-term rate reduction drove a 3.9% gain in the S&P 500, and companies like Nvidia led this. In the first half, Microsoft, Alphabet, Amazon, and Meta increased by more than 10%. Approximately 63% of the S&P 500’s first-half surge was driven by just five equities, with Nvidia accounting for almost half of that total. In...