Nvidia's AI-Driven Growth Slows
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80% Informative
Nvidia (NASDAQ: NVDA ) has been one of the hottest artificial intelligence ( AI ) stocks on the market since the technology exploded in popularity toward the end of 2022 .
Nvidia has a huge addressable market worth $1 trillion that could help sustain its outstanding growth for a long time to come.
Nvidia 's growth is expected to taper off over the next couple of fiscal years .
But even then, investors on the lookout for AI stocks that present better value right now would be tempted to look for alternatives.
Qualcomm is one of the leading players in the smartphone processor space with an estimated market share of 31% in the second quarter of 2024 .
Counterpoint Research estimates that the global generative AI smartphone market could witness a 4x jump in shipments between 2023 and 2027 .
Qualcomm is now clocking healthy double-digit growth thanks to the proliferation of AI smartphones.
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