3 Stocks Ready to Ride Apple’s AI Coattails Higher

InvestorPlace04-18

Apple’s (AAPL) top suppliers and partners may be in for a lift if the iPhone maker is able to break ground on AI features in the second half of 2024. Qualcomm (QCOM): Qualcomm’s extended supply deal ...

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href=https://investorplace.com/2024/04/3-stocks-ready-to-ride-apples-ai-coattails-higher/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Apple’s (AAPL) top suppliers and partners may be in for a lift if the iPhone maker is able to break ground on AI features in the second half of 2024.\nQualcomm (QCOM): Qualcomm’s extended supply deal ...</p>\n\n<a href=\"https://investorplace.com/2024/04/3-stocks-ready-to-ride-apples-ai-coattails-higher/\">Source 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PORTFOLIO \"AX\" (SGD) ACC","03145":"华夏亚洲高息股","LU1211504680.USD":"ALLIANZ HIGH DIVIDEND ASIA PACIFIC EQUITY \"AM\" (USD) INC"},"translate_title":"3只股票准备乘着苹果人工智能的顺风车走高","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"TSM":1,"AAPL":1,"SWKS":1,"QCOM":1,"PSQ":0.6,"QID":0.6,"QLD":0.6,"QQQ":0.6,"SQQQ":0.6,"TQQQ":0.6,"NQmain":0.6,"03145":0.6,"MNQmain":0.6,".IXIC":0.6},"content_text":"Apple’s (AAPL) top suppliers and partners may be in for a lift if the iPhone maker is able to break ground on AI features in the second half of 2024.\nQualcomm (QCOM): Qualcomm’s extended supply deal with Apple spells good things for the firm should iPhone sales look to take off again.\nTaiwan Semiconductor (TSM): The foundry kingpin is already starting to benefit from the high demand for AI chips.\nSkyworks Solutions (SWKS): The mobile chip supplier is leaning so heavily on Apple that any hint of an iPhone sales surge could mean big things.\n\n\n\n\n\n \n\nSource: Tapati Rinchumrus / Shutterstock.com\n\n\n\nApple (NASDAQ:AAPL) stock has been a wild mover in recent sessions, blasting off on excitement for AI-centric M4 Macs, only to plunge in the following sessions. \nIndeed, Apple’s prior chips featured Neural Engines that helped power various background applications. However, many iPhone users probably viewed the hardware as an afterthought rather than a main draw to buy the latest iPhone.\nAfter exploring the possibilities with today’s AI chatbots (like ChatGPT), its AI-focused hardware, such as the Apple Neural Engine, may now be a top selling point as Apple looks to get its many users to upgrade. As AI PCs, smartphones and the AI-powered silicon that powers them enter the chat, things may finally look up for Apple again.\nIf Apple has what it takes to catch up in AI, the following AI stocks may benefit from its success.\nQualcomm (QCOM)\nSource: ShutterstockApple hasn’t been able to replace Qualcomm (NASDAQ:QCOM) modems in its iPhone quite yet. With Apple and Qualcomm extending its modem supply agreement to 2026 and now to March 2027, questions linger as to whether Apple can ever move on from Qualcomm on the modem front. \nWho knows? Perhaps the overly ambitious modem plans could share the same fate as Project Titan, the electric vehicle project that Apple has since pulled the plug on.\nIn any case, Qualcomm will be supplying modems for the next couple of iPhones. That will likely be enough to benefit from the next iPhone (mini) super-cycle that may very well be powered by new AI hardware, software and services. Beyond Apple, Qualcomm looks well-equipped to benefit from the AI PC and smartphone boom as it makes its own AI chips.\nIn short, Qualcomm stands to gain if the iPhone 16 or 17 experiences a big boom in demand, likely from new AI features. That said, it doesn’t solely rely on Apple for its prosperity.\nTaiwan Semiconductor (TSM)\nSource: Sundry Photography / Shutterstock.comTaiwan Semiconductor (NYSE:TSM) stock is in the process of breaking out right now, with shares just shy of the $140 mark. If Apple helps lead the charge toward AI-powered smartphones, Taiwan Semiconductor may have the final nudge to leave prior highs well behind it.\nFurther, Taiwan Semiconductor doesn’t just stand to benefit from an iPhone super-cycle; it stands to benefit from an AI phone boom at large. The $725 billion foundry juggernaut is already showing signs of tailwinds from the AI chip boom, with the firm recently experiencing a sales growth spurt in March, its largest since November 2022.\nAt this pace, it’s hard not to view TSM stock as one of those AI-at-a-reasonable-price types of plays as more investors move on from some of the more overcrowded AI trades in the market.\nSkyworks Solutions (SWKS)\nSource: madamF / Shutterstock.comSkyworks Solutions (NASDAQ:SWKS) is a major supplier to Apple, with more than half (sometimes much more than half) of overall revenues derived from the iPhone maker. Indeed, the mobile chip maker’s heavy reliance on Apple can be both a blessing and a curse. Of late, it’s been a curse, with SWKS stock down nearly 50% from its peak, with barely any meaningful momentum for rebound chasers to get excited about.\nIf we are on the cusp of an AI iPhone sales boom, perhaps Skyworks stock could gain more than Apple stock. Undoubtedly, Skyworks has taken steps to lower its dependence on Apple over the years. Still, Apple remains the largest customer, which will help the firm pay most of the bills. If AI does help spark a much-awaited iPhone sales super-cycle, perhaps Skyworks’ heavy dependence on Apple will be viewed as a good thing for once.\nOn the date of publication, Joey Frenette owns shares of Apple. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.\nJoey Frenette is a seasoned investment writer specializing in technology and consumer stocks. Contributing to the Motley Fool Canada, TipRanks, and Barchart, Joey excels in spotting mispriced stocks with long-term growth potential in a fast-paced market.Artificial Intelligence, Technology\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nSubmit\n\n\n\n\n\n\n\nArticle printed from InvestorPlace Media, https://investorplace.com/2024/04/3-stocks-ready-to-ride-apples-ai-coattails-higher/.\n©2024 InvestorPlace Media, LLC","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2428622575"}