QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products. The QTL segment grants licenses or provides rights to use portions of its intellectual property portfolio, which include various patent rights useful in the manufacture and sale of wireless products comprising products implementing CDMA2000, WCDMA, LTE and/or OFDMA-based 5G standards and their derivatives. The QSI segment invests in early-stage companies in various industries, including 5G, artificial intelligence, automotive, consumer, enterprise, cloud, IoT, and extended reality, and investments, including non-marketable equity securities and, to a lesser extent, marketable equity securities, and convertible debt instruments. It also provides development, and other services and related products to the United States government agencies and their contractors. The company was incorporated in 1985 and is headquartered in San Diego, California.

QUALCOMM Incorporated

The S&P 500 Index ($SPX) (SPY) on Wednesday closed down -0.74%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -0.63%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.84%. March E-mini S&P futures (ESH26) fell -0.71%, and March E-mini Nasdaq futures (NQH26) fell -0.89%.
Stock indexes retreated on Wednesday, with the S&P 500, the Dow Jones Industrial Average, and the Nasdaq 100 sliding to 1.5-week lows. The weakness in chip stocks and data storage companies led the broader market lower on the last trading day of the year. Also, mining stocks slid on Wednesday, with gold prices falling to a 2.5-week low and silver prices plunging more than -9%. In addition, higher bond yields are negative for stocks, as the 10-year T-note yield climbed +4 bp to 4.16% after weekly jobless claims unexpectedly fell to a 1-month low, a hawkish factor for Fed policy.
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Trading activity was subdued on Wednesday, with volumes well below normal, as markets in Germany and Japan were closed for the New Year's holiday.
US weekly initial unemployment claims unexpectedly fell -16,000 to a 1-month low of 199,000, showing a stronger labor market than expectations of an increase to 218,000.
Wednesday's better-than-expected Chinese economic news is supportive of global growth prospects. The China Dec manufacturing PMI rose +0.9 to 50.1, stronger than expectations of no change at 49.2 and the fastest pace of expansion in 9 months. Also, the Dec non-manufacturing PMI rose +0.7 to 50.2, stronger than expectations of 49.6.
Seasonal factors are bullish for stocks. According to data from Citadel Securities, since 1928, the S&P 500 has risen 75% of the time in the last two weeks of December, climbing 1.3% on average.
Market attention this holiday-shortened week will focus on US economic news. On Friday, the Dec S&P manufacturing PMI is expected to remain unrevised at 51.8.
The markets are discounting the odds at 15% for a -25 bp rate cut at the FOMC's next meeting on January 27-28.
Overseas stock markets settled mixed on Wednesday. The Euro Stoxx 50 closed down -0.08%. China's Shanghai Composite closed up +0.09%. Japan's Nikkei Stock 225 is closed for a bank holiday.
Interest Rates
March 10-year T-notes (ZNH6) on Wednesday closed down -6.5 ticks. The 10-year T-note yield rose +3.3 bp to 4.155%. Mar T-notes gave up an early advance on Wednesday and turned lower after US weekly jobless claims unexpectedly fell to a 1-month low, a sign of labor market strength that is hawkish for Fed policy. The weakness in stocks on Wednesday boosted some safe-haven demand for government debt and limited losses in T-notes.
European government bond yields moved lower on Wednesday. The 10-year German bund yield is not trading today, with German markets closed for the New Year's holiday. The 10-year UK gilt yield fell -1.9 bp to 4.479%.
Swaps are discounting a 1% chance of a +25 bp rate hike by the ECB at its next policy meeting on February 5.
US Stock Movers
Chip makers and data storage companies were under pressure on Wednesday, leading the overall market lower. Micron Technology (MU), KLA Corp (KLAC), and Western Digital (WDC) closed down more than -2%. Also, Marvell Technology (MRVL), Seagate Technology Holdings (STX), Lam Research (LRCX), Microchip Technology (MCHP), Applied Materials (AMAT), Qualcomm (QCOM), and ARM Holdings Plc (ARM) closed down more than -1%.
The Magnificent Seven stocks settled lower, weighing on the broader market. Tesla (TSLA) closed down -1.04%, Meta Platforms (META) closed down -0.88%, Microsoft (MSFT) closed down -0.79%, Amazon.com (AMZN) closed down -0.74%, Nvidia (NVDA) closed down -0.55%, (AAPL) closed down -0.38%, and Alphabet (GOOGL) closed down -0.27%.
Mining companies retreated on Wednesday after gold prices fell to a 2.5-week low and silver prices plunged more than -9%. Newmont (NEM), Barrick Mining (B), Freeport-McMoRan (FCX), Coeur Mining (CDE), and Hecla Mining (HL) closed down more than -1%.
Corcept Therapeutics (CORT) closed down by more than -49% after the FDA rejected the company's relacorliant drug as a treatment for patients with hypertension secondary to hypercortisolism, saying it could not reach a favorable benefit-risk assessment without additional effectiveness data.
GlobalFoundries (GFS) closed down more than -3% after Wedbush downgraded the stock to neutral from outperform.
Vanda Pharmaceuticals (VNDA) closed up more than +25% after the FDA approved the company's Nereus drug for the prevention of vomiting induced by motion.
Nike (NKE) closed up more than +4% to lead gainers in the S&P 500 and Dow Jones Industrials on signs of insider buying after an SEC filing showed CEO Hill purchased about $1 million worth of shares on Monday.
Terawulf Inc (WULF) closed up more than +3% after Keefe, Bruyette & Woods upgraded the stock to outperform from market perform with a price target of $24.
Earnings Reports(1/2/2026)
Lifecore Biomedical (LFCR).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Settle Lower on Tech Weakness and Higher Bond Yields

The S&P 500 Index ($SPX) (SPY) today is down -0.33%, the Dow Jones Industrials Index ($DOWI) (DIA) is down -0.35%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.34%. March E-mini S&P futures (ESH26) are down -0.35%, and March E-mini Nasdaq futures (NQH26) are down -0.38%.
Stock indexes are moving lower today, with the S&P 500 and Dow Jones Industrial Average sliding to 1-week lows, and the Nasdaq 100 falling to a 1.5-week low. Weakness in chip stocks and data storage companies are leading the broader market lower on the last trading day of the year. Also, mining stocks are sliding today, with gold prices falling to a 2.5-week low and silver prices plunging more than -7%. In addition, higher bond yields are negative for stocks, with the 10-year T-note yield climbing by +2 bp to 4.14% after weekly jobless claims unexpectedly fell to a 1-month low, a hawkish factor for Fed policy.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
Trading activity is subdued today, with volumes well below normal, as markets in Germany and Japan are closed for the New Year's holiday.
US weekly initial unemployment claims unexpectedly fell -16,000 to a 1-month low of 199,000, showing a stronger labor market than expectations of an increase to 218,000.
Today's better-than-expected Chinese economic news is supportive of global growth prospects. The China Dec manufacturing PMI rose +0.9 to 50.1, stronger than expectations of no change at 49.2 and the fastest pace of expansion in 9 months. Also, the Dec non-manufacturing PMI rose +0.7 to 50.2, stronger than expectations of 49.6.
Seasonal factors are bullish for stocks. According to data from Citadel Securities, since 1928, the S&P 500 has risen 75% of the time in the last two weeks of December, climbing 1.3% on average.
Market attention this holiday-shortened week will focus on US economic news. On Friday, the Dec S&P manufacturing PMI is expected to remain unrevised at 51.8.
The markets are discounting the odds at 15% for a -25 bp rate cut at the FOMC's next meeting on January 27-28.
Overseas stock markets are mixed today. The Euro Stoxx 50 is down -0.08%. China's Shanghai Composite closed up +0.09%. Japan's Nikkei Stock 225 is closed for a bank holiday.
Interest Rates
March 10-year T-notes (ZNH6) today are down -4 ticks. The 10-year T-note yield is up +1.6 bp to 4.138%. Mar T-notes gave up an early advance today and turned lower after US weekly jobless claims unexpectedly fell to a 1-month low, a sign of labor market strength that is hawkish for Fed policy. The weakness in stocks today is boosting some safe-haven demand for government debt and limiting losses in T-notes.
European government bond yields are moving lower today. The 10-year German bund yield is not trading today, with German markets closed for the New Year's holiday. The 10-year UK gilt yield is down -1.9 bp to 4.479%.
Swaps are discounting a 1% chance of a +25 bp rate hike by the ECB at its next policy meeting on February 5.
US Stock Movers
Chip makers and data storage companies are under pressure today, leading the overall market lower. Micron Technology (MU) is down more than -1% to lead losers in the Nasdaq 100. Also, KLA Corp (KLAC), Western Digital (WDC), Marvell Technology (MRVL), Qualcomm (QCOM), and Broadcom (AVGO) are down more than -1%.
Mining companies are sliding today, with gold prices falling to a 2.5-week low and silver prices plunging more than -7%. Newmont (NEM) and Barrick Mining (B) are down more than -1%. Also, Freeport-McMoRan (FCX) is down -0.69%, and Hecla Mining (HL) is down -0.46%.
Corcept Therapeutics (CORT) is down more than -51% after the FDA rejected the company's relacorliant drug as a treatment for patients with hypertension secondary to hypercortisolism, saying it could not arrive at a favorable benefit-risk assessment without additional effectiveness evidence.
GlobalFoundries (GFS) is down more than -2% after Wedbush downgraded the stock to neutral from outperform.
Vanda Pharmaceuticals (VNDA) is up more than +31% after the FDA approved the company's Nereus drug for the prevention of vomiting induced by motion.
Terawulf Inc (WULF) is up more than +5% after Keefe, Bruyette & Woods upgraded the stock to outperform from market perform with a price target of $24.
Nike (NKE) is up more than +2% to lead gainers in the Dow Jones Industrials on signs of insider buying after an SEC filing showed CEO Hill purchased about $1 million worth of shares on Monday.
Nvidia (NVDA) is up +0.43% to lead gainers in the Nasdaq 100 after Reuters reported that the company approached TSMC to ramp up production of its H200 artificial intelligence chips amid signs of stronger demand from China.
Earnings Reports(12/31/2025)
CoastalSouth Bancshares Inc (COSO), Golden Matrix Group Inc (GMGI), Immersion Corp (IMMR).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
More news from Barchart
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Decline as Chip Makers and Data Storage Companies Fall

Qualcomm Incorporated QCOM has forayed into mid-range AI desktops and laptops with its Snapdragon X chip. This SoC is the fourth such product in the Snapdragon X processor line, following the successful launch of the Snapdragon X Plus 8-core, Snapdragon X Plus and Snapdragon X Elite series. Based on a 4-nanometer process, the Snapdragon X chip comprises an 8-core Oryon central processor, a graphics component and a neural processing unit (NPU). The NPU accelerates AI workloads, offering 45 TOPS (trillions of operations per second), making it an ideal platform to power Copilot+PCs – Microsoft’s vision of AI-first, flagship Windows hardware.
AI PCs incorporate an additional processor designed specifically to accelerate AI capabilities. This specialized hardware enhances features like personal assistants and task automation. One of the significant selling points of AI PCs is their enhanced battery life. Qualcomm's chips, which are based on Arm Holdings Plc designs, promise extended use without frequent charging.
Leveraging processors with multi-core CPUs with cutting-edge features, amazing graphics and worldwide network connectivity, Qualcomm Snapdragon mobile platforms are fast and have superb power efficiency. Smartphones and mobile devices built with Snapdragon mobile platforms enable immersive augmented reality and virtual reality experiences, brilliant camera capabilities, superior 4G LTE and 5G connectivity with state-of-the-art security solutions.
Tech Firms Focusing on AI
NVIDIA Corporation NVDA is rapidly gaining traction in enterprise AI, expanding its market beyond cloud providers. Major companies across industries are integrating NVIDIA’s AI platforms to automate workflows, enhance productivity and improve decision-making. The company’s DGX Cloud AI infrastructure, which allows enterprises to train and deploy AI models at scale, has seen increased adoption. The expansion of CUDA software and AI frameworks strengthens NVIDIA’s ecosystem, making it the preferred choice for enterprises developing AI applications. With AI adoption expected to accelerate in 2025 and beyond, NVIDIA’s software and AI cloud solutions are a significant revenue driver.
Intel Corporation INTC is investing to expand its manufacturing capacity to accelerate its IDM 2.0 (Integrated Device Manufacturing) strategy. The company is taking various decisions to gain a firmer footing in the expansive AI sector. Its Xeon 6 processors with Performance-cores (P-Cores) can support large AI workloads across diverse sectors. With industry-leading capabilities in AI processing, the Xeon 6 family delivers the industry’s best CPU for AI at a lower total cost of ownership. Intel's innovative AI solutions are likely to benefit the broader semiconductor ecosystem by driving down costs, improving performance and fostering an open, scalable AI environment.
QCOM’s Price Performance, Valuation and Estimates
Qualcomm’s shares have gained 13% over the past year compared with the industry’s growth of 41%.
Image Source: Zacks Investment Research
Going by the price/earnings ratio, the company's shares currently trade at 14.16 forward earnings, lower than 34.14 for the industry.
Image Source: Zacks Investment Research
Earnings estimates for fiscal 2026 have increased 2% to $12.15 per share over the past 60 days, while the same for fiscal 2027 are up 3.4% to $12.6.
Image Source: Zacks Investment Research
Qualcomm currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks Naming Top 10 Stocks for 2026
Want to be tipped off early to our 10 top picks for the entirety of 2026? History suggests their performance could be sensational.
From 2012 (when our Director of Research Sheraz Mian assumed responsibility for the portfolio) through November, 2025, the Zacks Top 10 Stocks gained +2,530.8%, more than QUADRUPLING the S&P 500’s +570.3%.
Now Sheraz is combing through 4,400 companies to handpick the best 10 tickers to buy and hold in 2026. Don’t miss your chance to get in on these stocks when they’re released on January 5.
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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Can Qualcomm Stock Benefit From a Foray Into Mid-Range AI Chips?

Intel Corporation (INTC) has completed a previously announced $5 billion investment from NVIDIA Corporation (NVDA), under which the latter purchased around 214.7 million shares of the former at $23.28 per share. Earlier in December, this transaction received U.S. antitrust approval from the Federal Trade Commission. This purchase gives NVIDIA roughly a 4% equity stake in Intel through a private placement of shares.
The partnership aims to tightly combine Intel’s custom-designed x86 CPUs with NVIDIA’s AI GPUs and NVLink interconnect technology to create faster, more efficient AI systems and next-generation PCs with stronger AI and graphics performance. This could help Intel remain competitive in the AI era.
Intel had also secured $8.9 billion in funds from the U.S. government to support semiconductor manufacturing and packaging projects in Arizona, New Mexico, Ohio and Oregon in order to boost the domestic chip industry. SoftBank has also invested $2 billion, providing funds to support Intel’s restructuring and AI projects.
Intel is constantly making efforts to bring huge investments to strengthen its balance sheet, supporting heavy spending on new factories and R&D, boosting market confidence and enabling deeper technology collaboration with firms like NVIDIA.
How Are Rivals Performing?
Intel faces competition from Qualcomm Incorporated (QCOM) and Advanced Micro Devices (AMD). Qualcomm recently completed its $2.4 billion acquisition of British semiconductor company Alphawave Semi to strengthen its AI, data center and high-speed connectivity technologies, boosting its competitiveness beyond smartphones. By strengthening its PC chip offerings through programs like Snapdragon X, Qualcomm can expand into new markets such as AI infrastructure, edge computing and personal computers. Qualcomm entered the AI infrastructure space by developing AI accelerators like AI200 & AI250.
AMD is set to launch high-performance AI GPUs, EPYC server CPUs and full AI systems like Helios to compete with NVIDIA and provide faster, more efficient solutions for data centers and enterprises. AMD is partnering with companies like OpenAI and Oracle to expand across gaming, PCs and servers to increase revenues and stay competitive. The company continues to improve its ROCm open software stack and open hardware standards.
INTC’s Price Performance, Valuation & Estimates
Shares of Intel have surged 85% over the past year compared with the industry’s growth of 34.1%.
Image Source: Zacks Investment Research
Going by the price/book ratio, the company's shares currently trade at 1.5 book value, lower than 32.5 of the industry average.
Image Source: Zacks Investment Research
INTC’s earnings estimates for 2025 have increased 6.3% to 34 cents per share, while those for 2026 have declined 6.5% to 58 cents over the past 60 days.
Image Source: Zacks Investment Research
Intel stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
#1 Semiconductor Stock to Buy (Not NVDA)
The incredible demand for data is fueling the market's next digital gold rush. As data centers continue to be built and constantly upgraded, the companies that provide the hardware for these behemoths will become the NVIDIAs of tomorrow.
One under-the-radar chipmaker is uniquely positioned to take advantage of the next growth stage of this market. It specializes in semiconductor products that titans like NVIDIA don't build. It's just beginning to enter the spotlight, which is exactly where you want to be.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Can Intel's Investment-Driven Strategy Regain Its Competitive Edge?

Qualcomm Incorporated (QCOM) generated about $6.96 billion in handset revenues in the latest quarter, with a year-over-year increase of 14% and an estimated $27.8 billion in fiscal 2025, contributing roughly 63% of the total company’s revenues. Qualcomm’s strong handset revenues are driven by its increased customer demand for Snapdragon-powered premium Android smartphones.
Qualcomm faces strong competition from rivals like MediaTek, especially in mid-range and budget smartphones, which puts pressure on its market share and pricing. U.S.-China trade tensions have reduced companies' handset demand to a great extent. Qualcomm's handset business experienced ongoing challenges as global smartphone demand slowed down day by day. Moreover, major handset manufacturers, such as Apple and Samsung, are moving toward in-house chip development. This is a major challenge for Qualcomm.
To overcome challenges in the smartphone business, Qualcomm is focusing on premium Snapdragon chips to stay competitive in flagship devices. Qualcomm recently launched the Snapdragon 8 Gen 5, offering high-speed performance, advanced AI, improved graphics, and enhanced camera capabilities for flagship smartphones from global brands like iQOO, Honor, ASUS, OnePlus, and Vivo.
Per a report from Precedence Research, the global 5G chipset market is expected to reach $126.4 billion by 2030 from $18.7 billion in 2022, with a CAGR of 27%, indicating strong underlying growth potential for Qualcomm’s handset segment in the near future. QCOM’s continuous innovation in powering flagship devices with cutting-edge features helps to boost its handset revenues, maintain leadership in the premium segment, and drive future revenue growth.
Other Tech Companies Focused on Handset Chip Development
Qualcomm faces competition from Apple, Inc. (AAPL) and Broadcom, Inc. (AVGO). Apple recently launched the new iPad Pro, MacBook Pro, and upgraded Vision Pro, all powered by their M5 chip. Apple’s iPhone 17 series uses the A19 chip, and the iPhone Air features the A19 Pro chip, both offering faster performance, better graphics, and advanced AI capabilities. These recent chips strengthen Apple’s position in the smartphone market and reduce its reliance on third-party suppliers.
Broadcom recently launched Wi Fi 8 chips for smartphones and connected devices, improving speed, reliability, and efficiency. Broadcom, by providing essential smartphone components like Wi Fi, Bluetooth, and RF chips for major brands, remains important in the handset market. The company also focuses on affordable LTE chips for emerging markets, helping OEMs bring affordable smartphones to countries like India.
QCOM’s Price Performance, Valuation and Estimates
Qualcomm shares have gained 11.1% over the past year compared with the industry’s growth of 35.3%.
Image Source: Zacks Investment Research
Going by the price/earnings ratio, the company's shares currently trade at 14.26 forward earnings, lower than 34.54 for the industry.
Image Source: Zacks Investment Research
Earnings estimates for 2025 have increased 2% to $12.15 over the past 60 days, while those for 2026 have risen 3.4% to $12.60.
Image Source: Zacks Investment Research
Qualcomm stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks Naming Top 10 Stocks for 2026
Want to be tipped off early to our 10 top picks for the entirety of 2026? History suggests their performance could be sensational.
From 2012 (when our Director of Research Sheraz Mian assumed responsibility for the portfolio) through November, 2025, the Zacks Top 10 Stocks gained +2,530.8%, more than QUADRUPLING the S&P 500’s +570.3%.
Now Sheraz is combing through 4,400 companies to handpick the best 10 tickers to buy and hold in 2026. Don’t miss your chance to get in on these stocks when they’re released on January 5.
Be First to New Top 10 Stocks >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

QCOM Rides on Strength in Premium Handset Market: Will it Sustain?

Key Points
The rise of custom AI accelerators will have a notable impact on cloud computing and these chipmakers.
More capable devices could spur a huge round of upgrades for consumers.
Harnessing unique data with AI could put small businesses on the same level as big corporations.
The last three years have been marked by the rapid development and deployment of new artificial intelligence technology. From the release of ChatGPT in late 2022 to today, large language models have seen significant improvements, driven by innovative training and model techniques, larger models and context windows, and advances in hardware capabilities. But based on comments and commitments from some of the largest AI companies in the world, there's still a long way to go.
In 2026, we can expect many more advances in generative AI. Here are three of the biggest trends to watch, along with how investors can position their portfolios to capitalize on the continued opportunities in artificial intelligence.
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1. Custom AI accelerators will take market share
The four biggest hyperscalers have been developing their own custom silicon for years. Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) has utilized its Tensor Processing Units (TPUs) for AI development for over a decade, and it's been offering them through Google Cloud since 2018. Likewise, Amazon launched its Inferentia chip (for inference) in 2019 and Trainium (for AI training) in 2021. Microsoft and Meta Platforms (NASDAQ: META) make their own chips as well.
There's a growing demand for these custom chips as they offer better price performance than Nvidia's market-leading GPUs. The hyperscalers can acquire the chips for less, and they consume less power than GPUs. However, they're not able to run broad workloads like GPUs, making them only suitable for specific tasks.
However, continued advancements in custom silicon have led an increasing number of AI developers to adopt these solutions. Anthropic is using Amazon's chips and plans to use Google's chips starting next year. OpenAI is using TPUs, and it's in talks with Amazon as well. Even Meta is reportedly in talks with Google to use TPUs, as the two look to port the PyTorch framework (the most widely used AI software framework) to its architecture.
Alphabet stands out as a leader in the space as it's seen great results using TPUs in-house, and it's gaining traction with third parties. But investors should look one level deeper at the companies behind the designs: Broadcom (NASDAQ: AVGO) and Marvell (NASDAQ: MRVL). Broadcom designs Alphabet's TPUs, but Marvell may be the better stock to buy now based on valuation. It's behind the designs for Amazon and Microsoft's chips, which are also expected to see strong demand in the coming years.
2. On-device artificial intelligence
Most artificial intelligence applications make a call to a server to access a large language model. That can be slow and energy-intensive, and it requires an internet connection. One significant trend to watch in 2026 is the advancement of on-device generative AI capabilities, also known as edge AI.
Apple (NASDAQ: AAPL) is expected to deliver on its long-promised Siri revamp, featuring AI-powered improvements. Apple's on-device AI model, Apple Intelligence, will handle many new tasks and ensure data privacy. It may use a third-party model for less sensitive tasks and questions. Many analysts have high expectations for the revamp, as it's been a long time coming.
If Apple impresses with a new Siri, it could push the industry forward in on-device AI capabilities. That would be a boon for Qualcomm (NASDAQ: QCOM), which makes high-end mobile chips. Faster mobile processors are necessary for on-device AI, which could drive more sales toward high-end devices equipped with Qualcomm's chips.
Both companies could benefit if new on-device AI capabilities prompt consumers to upgrade their phones and other devices, resulting in strong sales growth. Apple could further benefit from more AI-capable apps in the App Store, which is a major source of services revenue for the iPhone maker.
3. The rise of the AI agents
Many businesses have been working on agentic AI capabilities, leveraging the power of large language models to get AI to perform multistep tasks. The area has been making steady progress, gaining momentum in the latter half of the year.
Salesforce (NYSE: CRM) released its Agentforce platform in late 2024, but it's just starting to gain momentum now. It has expanded the platform to make it easier for businesses to create AI agents that can tap into their unique data and utilize Salesforce's platform to execute business goals, such as handling customer service requests and warming up sales leads before passing them off to a human specialist. Salesforce's dominant position in enterprise software puts it in a unique position to benefit from advancements in agentic capabilities.
Likewise, Meta Platforms could benefit greatly from agentic AI for small businesses. Instead of hiring a social media ad manager, Meta's AI agent could handle developing and running an ad campaign for a small business, bringing more advertisers onto its platform and expanding advertising budgets. Likewise, AI agents in WhatsApp and Messenger could handle incoming sales leads and service requests, providing another key feature to put small businesses on the same playing field as massive corporations.
Both companies' stocks look attractive at today's price, and they could see strong revenue growth in 2026 as they develop more agentic AI capabilities that they can monetize both directly (by selling the agentic platform) or indirectly (by selling services the agentic AI uses).
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Adam Levy has positions in Alphabet, Amazon, Apple, Meta Platforms, Microsoft, Qualcomm, and Salesforce. The Motley Fool has positions in and recommends Alphabet, Amazon, Apple, Meta Platforms, Microsoft, Nvidia, Qualcomm, and Salesforce. The Motley Fool recommends Broadcom and Marvell Technology and recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

3 Artificial Intelligence (AI) Trends to Watch in 2026 and How to Invest in Them

Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares Russell 1000 ETF (Symbol: IWB) where we have detected an approximate $998.7 million dollar inflow -- that's a 2.2% increase week over week in outstanding units (from 122,950,000 to 125,600,000). Among the largest underlying components of IWB, in trading today Qualcomm Inc (Symbol: QCOM) is up about 0.1%, GE Vernova Inc (Symbol: GEV) is up about 1.6%, and TJX Companies (Symbol: TJX) is up by about 0.7%. For a complete list of holdings, visit the IWB Holdings page » The chart below shows the one year price performance of IWB, versus its 200 day moving average:
Looking at the chart above, IWB's low point in its 52 week range is $264.17 per share, with $378 as the 52 week high point — that compares with a last trade of $377.51. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Also see:
Funds Holding ATRC
UVSP Split History
Institutional Holders of MDD
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Noteworthy ETF Inflows: IWB, QCOM, GEV, TJX

Ericsson ERIC has joined forces with SoftBank Corp. and Qualcomm Technologies, Inc. QCOM to complete a real-world field trial demonstrating ultra-low-latency communication on SoftBank’s commercial 5G Standalone (5G SA) network in Tokyo. The trial achieved an approximately 90% reduction in wireless link latency compared to conventional 5G scenarios that do not utilize advanced 5G and 5G Advanced technologies such as Low Latency, Low Loss and Scalable Throughput (L4S).
To validate real-time performance, the companies selected XR content streaming as the primary use case. Smart glasses were connected to a smartphone via Wi-Fi, while the smartphone accessed SoftBank’s 5G SA network through designated 5G base stations. Data was exchanged with application servers hosted on the public Internet, reflecting realistic deployment conditions. XR applications are extremely sensitive to communication delays. Even minor latency or jitter can negatively impact visual stability and user comfort. The success of this trial demonstrates that advanced 5G technologies can meet the strict performance requirements of immersive applications.
The use of network slicing ensured that XR traffic received guaranteed performance without affecting other users, highlighting a key capability for future service differentiation.
Key 5G and 5G Advanced Technologies
Several standardized 3GPP technologies were integrated to achieve the low-latency results. L4S (Low Latency, Low Loss and Scalable Throughput) leverages Explicit Congestion Notification to detect early signs of congestion and adjust transmission rates in real time. By preventing packet buildup before congestion becomes severe, L4S ensures stable and consistently low latency.
Configured Uplink Grant feature simplifies uplink transmission procedures by allowing mobile devices to send data immediately based on pre-configured schedules. It significantly reduces uplink delay, which is essential for real-time XR interactions. With Rate-Controlled Scheduling base stations dynamically manage radio resources to maintain consistent throughput. This stabilizes XR video rendering and interaction responsiveness.
ERIC’s Role in 5G Advanced Commercialization
Ericsson’s contribution demonstrates its ability to translate 5G Advanced standards into real-world deployments. Successfully implementing L4S and advanced scheduling on a live network positions Ericsson as a key enabler for operators preparing for latency-sensitive services well ahead of the transition to 6G.
On the other hand, Qualcomm highlighted the importance of distributed spatial computing, where processing is shared between XR devices and the cloud. Snapdragon XR platforms, combined with ultra-low-latency 5G connectivity, enable lightweight smart glasses to deliver rich, immersive experiences—accelerating adoption across consumer and enterprise markets.
5G Momentum Favors ERIC Amid Geopolitical Turbulence
Ericsson is well-positioned to capitalize on strong global 5G momentum, supported by its competitive product portfolio and sustained R&D investments that reinforce its technology leadership. The company is executing its strategy to strengthen mobile infrastructure while building a focused enterprise business, with acquisitions such as Vonage, Cradlepoint and Ericom expanding its wireless enterprise and security capabilities.
Ericsson’s patent licensing business remains robust, backed by a strong IPR portfolio, while increased investments in Digital Services and Networks are driving automation, cost efficiency and selective market share gains. Together, strategic buyouts and continuous innovation are expected to accelerate commercial expansion and solidify Ericsson’s position in the wireless equipment market.
However, Ericsson’s business faces headwinds from geopolitical tensions and macroeconomic uncertainty across key markets. A lower market share has led to revenue declines in China within the Networks and Digital Services segments, while Sweden’s ban on Chinese vendors in 5G networks may further impact its operations there. Supply-chain disruptions and intense competition from Huawei and Nokia add to the pressure, alongside revenue weakness in Southeast Asia, Oceania and India due to reduced operator capex spending.
ERIC’s Zacks Rank & Stock Price Performance
Ericsson, carrying a Zacks Rank #2 (Buy) at present, has gained 18.9% over the past year compared with the Zacks Wireless Equipment industry’s growth of 21.7%.
Image Source: Zacks Investment Research
Stocks to Consider From the Computer and Technology Space
Some better-ranked stocks from the broader technology space are Ubiquiti Inc. UI and Clearfield, Inc. CLFD. UI sports a Zacks Rank #1 (Strong Buy), and CLFD carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
UI’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with the average surprise being 54.15%. In the last reported quarter, Ubiquiti delivered an earnings surprise of 39.52%. Its shares have surged 44.6% in the past six months.
Clearfield’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with the average surprise being 92.47%. In the last reported quarter, CLFD delivered an earnings surprise of 44.44%. Its shares have declined 7.4% in the past year.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Ericsson Ties Up With Industry Giants to Showcase Ultra-Low-Latency 5G

Qualcomm Incorporated QCOM has completed the acquisition of U.K.-based chip firm Alphawave Semi for an enterprise value of approximately $2.4 billion. The buyout offers Qualcomm an opportunity to expand its presence in high-growth applications, including data centers, artificial intelligence (AI), data networking and data storage.
With advanced technology solutions that are complementary to power-efficient CPU and NPU cores, Alphawave Semi delivers connectivity products and chiplets that drive faster, more reliable data transfer with higher performance and lower power consumption for 5G wireless, AI and data center applications. The acquisition, therefore, provides the firepower to enable Qualcomm to be the driving force of the next wave of AI innovation.
Over the past few quarters, Qualcomm has aimed to expand its footprint in AI chips through focused R&D initiatives and strategic acquisitions. In April, the company acquired MovianAI, the former generative AI division of VinAI, a prominent Vietnam-based AI firm. The transaction provided Qualcomm access to VinAI’s comprehensive expertise in generative AI, machine learning, computer vision and natural language processing, significantly accelerating its fundamental AI research. The integration of VinAI’s portfolio with Qualcomm’s extensive R&D expertise facilitated the development of state-of-the-art AI-driven solutions for a wide range of industries, including smartphones, PCs, software-defined vehicles and more.
Other Tech Firms Focusing on AI Chips
Advanced Micro Devices, Inc. AMD has strengthened its position in the semiconductor market on the back of its evolution as an enterprise-focused company from a pure-bred consumer-PC chip provider. The latest MI300 series accelerator family strengthens its competitive position in the generative AI space. The accelerator from Advanced Micro is based on AMD CDNA 3 accelerator architecture. It supports up to 192 GB of HBM3 memory, enabling efficient running of large language model training (up to 80 billion parameters) and inference for generative AI workloads. Advanced Micro is also benefiting from strong enterprise adoption and expanded cloud deployments.
Intel Corporation INTC has launched the Intel Core Ultra (Series 2) processors engineered to redefine mobile computing for a wide range of use cases, such as gaming, content creation, IT applications and various other businesses. This state-of-the-art lineup brings significant advancements in AI capabilities, improved performance and efficiency, setting new standards for AI computing. Intel has also introduced a new lineup of leading-edge processors to support AI workloads for edge devices. The Intel Core Ultra processors offer greater scalability, energy efficiency and impressive performance at the edge for a diverse range of use cases such as industrial IoT, autonomous vehicles and more.
QCOM’s Price Performance, Valuation and Estimates
Qualcomm shares have gained 10.7% over the past year compared with the industry’s growth of 35.3%.
Image Source: Zacks Investment Research
Going by the price/earnings ratio, the company's shares currently trade at 14.3 forward earnings, lower than 33.8 for the industry and the stock’s mean of 16.89.
Image Source: Zacks Investment Research
Earnings estimates for fiscal 2026 and fiscal 2027 have increased 2% to $12.15 per share and 3.4% to $12.60, respectively, over the past 60 days.
Image Source: Zacks Investment Research
Qualcomm currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Can Completion of Qualcomm's Alphawave Buyout Deal Propel Its Shares?

Shares of Arm Holdings plc ARM have declined 13% over the past year against the industry’s 36% growth. The decline raises a key question: will the fall continue, or is a rebound imminent? Let’s unpack the factors that you must look through before making an investment decision.
Image Source: Zacks Investment Research
ARM’s Dual-Sided Network Effect Reinforces Its Leadership
ARM’s competitive edge rests on a powerful dual-sided network effect that links software creators and hardware makers in a self-reinforcing loop.
The company’s architecture has become the default choice for device manufacturers because it already supports a massive universe of applications across Android, iOS, Windows and Linux ecosystems. This existing software breadth gives hardware producers confidence that chips based on ARM’s designs will integrate smoothly with global tools, platforms and services, making adoption a low-risk, high-benefit decision.
On the other side, developers are drawn to ARM because their applications immediately gain reach across an enormous installed base of devices. Every new hardware partner expands ARM’s footprint further, strengthening the incentive for developers to keep building for the platform. This creates a flywheel effect: more developers attract more manufacturers, which then bring in even more developers. Over time, this reinforcing cycle has grown into a deep moat that competitors struggle to penetrate.
This network-driven advantage has led to an extraordinary outcome. ARM effectively controls mobile CPU architecture. With its IP embedded in nearly every smartphone worldwide, the company operates from a position of unmatched scale, making its lead in mobile computing extremely difficult for rivals to challenge.
NVIDIA NVDA competes with ARM in edge computing and AI-driven device workloads. NVIDIA benefits from its own ecosystem, but lacks ARM’s mobile reach. Even where NVIDIA pushes into low-power processors, the breadth of ARM compatibility limits its ability to displace existing standards.
Qualcomm QCOM remains one of ARM’s most essential partners, yet also a peer, because Qualcomm builds mobile chips around ARM cores. The company depends heavily on ARM’s architecture, and its success in smartphones reinforces ARM’s position. Yet Qualcomm continues investing in custom designs to diversify, although ARM’s scale still keeps Qualcomm aligned with the platform.
Strong Earnings and Revenue Growth Ahead for ARM
The Zacks Consensus Estimate for ARM’s fiscal 2026 earnings is pegged at $1.72, indicating 5.5% growth from the year-ago level. Earnings for fiscal 2027 are expected to increase 28.2% from the prior-year actuals.
The company’s sales are expected to rise 23.5% and 21.6% year over year, respectively, in fiscal 2026 and 2027.
Image Source: Zacks Investment Research
ARM's Valuation Remains Significantly Elevated
ARM stock is currently expensive. It is priced at around 60 times forward 12-month earnings per share, significantly higher than the industry’s average of 37 times. When looking at the trailing 12-month EV-to-EBITDA ratio, ARM is trading at around 100 times, far exceeding the industry’s average of 25 times.
Hold Recommendation
Despite the recent decline, ARM’s shares still reflect elevated expectations due to the company’s dominant market position and long-term growth narrative. The pullback improves risk-reward but does not yet fully offset valuation concerns, especially in a volatile market environment. ARM’s strong ecosystem, recurring royalty model and exposure to AI-driven demand support the long-term story, but near-term upside may remain capped. Investors already holding the stock can stay patient, while new investors may prefer a wait-and-watch approach, looking for clearer signs of sustained earnings acceleration or a more attractive entry point.
ARM currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

QUALCOMM Incorporated

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