Keep an eye on Qualcomm (QCOM).

QCOM is also getting caught up in the artificial intelligence boom, which – thanks to Nvidia earnings – could become even more explosive. 

Qualcomm also says AI is coming to your phone soon. As noted in a recent press release, “Qualcomm is scheduled to make available Llama 2-based AI implementations on flagship smartphones and PCs starting from 2024 onwards to enable developers to usher in new and exciting generative AI applications using the AI-capabilities of Snapdragon platforms.”

Helping, Piper Sandler recently raised its QCOM price target to $140 from $120.