1 Top Artificial Intelligence (AI) Stock at an Incredible Valuation That Could Soar Impressively in 5 Years

Artificial intelligence (AI) has been a game changer for many companies that are capitalizing on the growing adoption of this technology, and it's sending their shares soaring. From Nvidia to Palantir Technologies to Oracle to SoundHound AI, companies across diverse industries have seen their stocks pop. The rapid rise in the stock price of such companies has made them expensive to buy right now. Nvidia, for instance, trades at 58 times trailing earnings, while Palantir has a sales multiple of 38.Still, there are select companies that have AI connections but have not yet felt the full impact of AI on their businesses yet. As a result, these companies trade at attractive valuations, giving investors an opportunity to buy potential AI winners at reasonable prices.Let's take a closer look at the prospects of Qualcomm (NASDAQ: QCOM), a stock that's set to benefit from multiple AI-focused verticals. Shares of the chipmaker have delivered underwhelming returns of just 15% so far in 2024, underperforming the broader PHLX Semiconductor Sector index's comparable returns of 24%. AI has real potential to supercharge Qualcomm's growth and stock price in the long run. Let's look at the reasons why.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool