US-China Semiconductor War: 5 Stocks to Watch

4. QUALCOMM, Incorporated (NASDAQ:QCOM)

Number of Hedge Fund Holders: 71

QUALCOMM, Incorporated (NASDAQ:QCOM) works to develop and commercialize foundational technologies for the wireless industry. The company is based in San Diego, California.

On July 29, Ingo Wermann at DZ Bank placed a Hold rating on QUALCOMM, Incorporated (NASDAQ:QCOM) shares. The analyst also placed a $150 price target on the stock.

This July, global semiconductor industry sales grew to reach $49 billion, showcasing a 7.3% increase year over year. QUALCOMM, Incorporated (NASDAQ:QCOM) was one of the major contributors to these rising sales in that month. Yet in August, with heightened tensions between the US and China over the semiconductor industry, many US stocks including QUALCOMM, Incorporated (NASDAQ:QCOM) ended up falling by over 1%. It might be worthwhile to keep an eye on the company’s performance in the coming few months.

Out of 895 hedge funds, 71 funds were long QUALCOMM, Incorporated (NASDAQ:QCOM) in the second quarter, compared to 73 funds in the previous quarter. Their total stake values were $2.8 billion and $3.6 billion respectively.