QUALCOMM Stock News

Qualcomm is finally pulling the right strings to make a dent in the AI market. Its growth has picked up of late, and could be able to sustain its momentum.

Qualcomm Inc. NASDAQ: QCOM shares are back on firm footing in recent sessions after a dodgy run last month. The stock closed just above $168 on Monday, extending its bounce from last month's low around $160.

Tepper's Appaloosa hedge fund trimmed its positions in Alphabet and Amazon in Q3. However, the billionaire loaded up on Qualcomm.

QUALCOMM Incorporated (QCOM) Presents at UBS Global Technology and AI Conference 2025 Transcript

In recent years, American semiconductor giant Nvidia (NASDAQ: NVDA) has been synonymous with the AI revolution, with its GPUs forming the backbone of the sector.

The iPhone maker leads the way for the sector in terms of dollars spent on stock buybacks. But other tech companies have reduced their share counts significantly, as well.

Tepper slashed his hedge fund's position in UnitedHealth Group, perhaps to take some profits off the table. He loaded up on Whirlpool, Qualcomm, and AMD stocks.

Nvidia might be the top dog in artificial intelligence (AI) hardware today, but its lead is narrowing. Qualcomm's newly announced AI chips and Alphabet's Ironwood TPU are positioned to compete with Nvidia on the low and high ends of AI hardware, respectively.