Amazon Deal Makes Qualcomm an AI Stock to Watch

A potentially underrated artificial intelligence stock is Qualcomm (NASDAQ:QCOM), according to recent news. The company has announced a deal with Amazon (NASDAQ:AMZN) that could result in the tech giant buying up to $60 billion in AI chips.

Qualcomm's stock has been fairly underwhelming, up around just 6% this year, and it trades at a relatively low valuation. The partnership with Amazon could unlock more growth opportunities and lead to more gains for the stock down the road.

The company has struggled to generate growth, as its revenue was down 4% in its most recent quarter. However, the deal with Amazon could provide a boost to Qualcomm's business, making it an attractive option for patient investors.