QCOM is a bull thesis based on successful diversification into IoT and data centers, supported by the Meta CPU partnership and raised non-phone revenue targets.

And stock number three will be, as you guessed, another player in the semiconductor field. This company is slightly smaller. It is not among the companies with a market capitalization of one trillion dollars, but it will be Qualcomm, and its stock market symbol is QCOM.

Qualcomm is now famous for its " Snapdragon" chips, which are typically the chips used in smartphones. But recently, in the last year or two, they have actually started to increasingly diversify their business into the automotive market, the Internet of Things ( IoT) market, which I think will be crucial to this wave of artificial intelligence , the computer market, and now they are even starting to enter the data center market.

They have a partnership with Meta in many of these areas. In the data center market, Qualcomm is actually building a central processing unit (CPU) specifically for data centers.

They have a partnership that states that once it launches, I think in 2028 or late 2027, Meta will purchase these units.

Again, this goes back to the previous story I was telling you about, Rachel, doesn't it? The wave of proxy-based artificial intelligence is CPU-driven, and Meta believes this will be essential, so they are working with many parties.

The second thing that excites me about Qualcomm and the Meta platform is that Meta just held an event, "Meta Connect," where they showcased a lot of great features and amazing products.

Many of those products are hardware devices. They showcased a new model of virtual reality glasses. They showcased new augmented reality glasses , those smart glasses they own.

They even showed a small piece demonstrating how you might use the Muse in the future, which looked like a small Game Boy. Many of those chips that go into "Internet of Things" devices are the result of a partnership with Qualcomm.

So , if Meta is the winner and is the one truly bringing artificial intelligence to consumers, then that's crazy. I thought, I thought it would be "Google". I thought Google would be the one saying, "Look, we have all this artificial intelligence.

We're going to roll out all these consumer products as quickly as possible." But Meta said, "Watch me now." " Let me present all of this in advance." So, if Meta continues to perform well here and continues to sell the products it launches, Qualcomm will be a very strong winner.

Regarding some financial figures, revenues in the last quarter amounted to $9.9 billion . This represents a decrease of approximately 4% year-on-year. One of the main reasons for this is that we are experiencing a slight slowdown in the smartphone business.

Isn't that so? The smartphone market has experienced a slowdown, especially with regard to memory prices .

But, if you start adding momentum from the data center market I just talked about, and momentum from AI proxies and AI reaching the edge, I think this could be a turnaround story for this player.

I think the price-to- earnings ratio is close to the low twenties, or even the late twenties at the moment.

Recently, they increased their non- phone revenue target for the coming years from 22 billion to 40 billion by the end of 2029. So, I'm very excited about this market , especially since Meta isn't the only one building AI and Kelley.

If someone else does that, I'm pretty sure they'll be able to use Qualcomm chips to develop those kinds of products as well.

Yes, I think what surprises me about Qualcomm this year is that we've experienced a kind of blunder , haven't we? We saw the stock crash after earnings, especially with the pressure on the core phone business , then rebound again due to the AI Weekly product summit.

So, I think the market is really trying to figure out which version of this company represents a story of sustainable, long-term growth.

You know, it was previously known as a supplier of smartphone chips, and now its focus is shifting towards AI platforms on devices, and it seems that this part of the business is going to become much more important, which is already driving significant growth for the company.

I think the partnership between data center chips and Meta is the part I'm watching for in the long term. Those revenues are completely separate from the cycles that caused the stock to decline for years.

Therefore, it is definitely an interesting company to follow.

Qualcomm, which is often seen as a phone company, is now expanding significantly in the Internet of Things market , and as I mentioned, the data center market is an area where it can benefit enormously.