Nightview Capital, an investment management company that concentrates exclusively on publicly traded equity strategies released its fourth quarter 2024 investor letter. A copy of the letter can be downloaded here. This letter highlights five transformative trends that the firm is observing for 2025 and beyond, along with a review of key companies in the portfolio and how the portfolio is evolving in response to these trends. For more information on the fund’s top picks in 2024, please check its top five holdings.
In its fourth quarter 2024 investor letter, Nightview Capital emphasized stocks such as QUALCOMM Incorporated (NASDAQ:QCOM). QUALCOMM Incorporated (NASDAQ:QCOM) develops and commercializes foundational technologies for the wireless industry. The one-month return QUALCOMM Incorporated (NASDAQ:QCOM) was 2.56%, and its shares lost 6.44% of their value over the last 52 weeks. On March 26, 2025, QUALCOMM Incorporated (NASDAQ:QCOM) stock closed at $158.39 per share with a market capitalization of $175.179 billion.
Nightview Capital stated the following regarding QUALCOMM Incorporated (NASDAQ:QCOM) in its Q4 2024 investor letter:
"Semiconductors are the unsung heroes of the modern economy, powering everything from AI and 5G to electric vehicles and renewable energy systems. Without them, innovation stalls. The semiconductor industry has entered a supercycle, driven by unprecedented demand across industries that rely on advanced computing. And while this notoriously boom and bust industry has seen cycles before we believe this cycle remains in relative infancy.
These advancements aren’t incremental. As AI systems scale, the need for cutting-edge semiconductors will only accelerate. We believe the companies at the forefront of this revolution are foundational to the next wave of global progress.
Qualcomm Inc. (QCOM): Core Opportunity: Qualcomm is transitioning beyond its traditional handset business, focusing on high-growth markets in Automotive and Internet of Things to drive future revenue streams. We have already seen this strategy flowing through the PnL and we are confident in the firm’s execution abilities going forward.
Competitive Advantage: Automotive Strength: Automotive revenue rose ~55% in FY 2024 to $2.9 billion, further supported by over 10 new design wins with global automakers for advanced driver-assistance systems (ADAS), connectivity, and digital cockpit solutions.
IoT Growth: IoT revenue reached $1.4 billion, reflecting steady traction in smart devices and industrial applications…” (Click here to read the full text)
An aerial view of a bustling semiconductor production zone showcasing the company’s integrated circuits.
QUALCOMM Incorporated (NASDAQ:QCOM) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 79 hedge fund portfolios held QUALCOMM Incorporated (NASDAQ:QCOM) at the end of the fourth quarter compared to 74 in the third quarter. QUALCOMM Incorporated (NASDAQ:QCOM) reported record revenue of $11.7 billion and non-GAAP EPS of $3.41 in the fiscal first quarter of 2025, both surpassing the upper range of guidance. While we acknowledge the potential of QUALCOMM Incorporated (NASDAQ:QCOM) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
We covered QUALCOMM Incorporated (NASDAQ:QCOM) in another article, emphasizing AI updates and ratings that have captured the attention of investors. In addition, please check out our hedge fund investor letters Q4 2024 page for more investor letters from hedge funds and other leading investors.
READ NEXT: Michael Burry Is Selling These Stocks and A New Dawn Is Coming to US Stocks.
Disclosure: None. This article is originally published at Insider Monkey.
Comments