We recently published a list of 10 Tech Stocks That Trump’s Fellow Republican Bought Amid Market Rout. In this article, we are going to take a look at where QUALCOMM Incorporated (NASDAQ:QCOM) stands against other tech stocks that Trump’s fellow Republican bought amid market rout.
Keeping track of politicians’ stock investments is a good way of determining which stocks may receive favorable policy treatment from the government down the road. By looking at the committees these politicians sit in, and the policy matters they are dealing with, investors can gain insights into what’s to follow for certain industries.
The STOCK Act requires these politicians to report their trades within 45 days of placing them. These disclosures are then made public, making the process as transparent as possible. While looking at some recent disclosures, we noticed certain politicians who stood out. One such politician was Trump’s fellow Republican Marjorie Taylor Greene, who bought stocks on the 3rd and 4th of April, two days when the S&P lost over 10% of its value!
Some of these stocks have already recovered from their lows hit that day, showing how Ms Greene was able to buy stocks that recovered swiftly despite the broader market continuing to struggle.
To come up with our list of 10 tech stocks that Trump’s fellow Republican bought amid the market rout, we looked at the Republican’s two recent filings on the 7th and 11th of April, where she reported these trades. We then ranked them by the number of hedge funds that hold the company’s stock in their portfolio.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
A technician testing the latest 5G device, demonstrating the company’s commitment to innovation.
Number of Hedge Fund Holders: 79
QUALCOMM Incorporated (NASDAQ:QCOM) is the developer and marketer of foundational technologies. It offers its technologies to the global wireless industry. The company operates in Qualcomm Technology Licensing (QTL), Qualcomm Strategic Initiatives (QSI), and Qualcomm CDMA Technologies (QCT) segments. The stock is up 7% since Ms. Green bought her stake earlier in the month.
At the start of this month, Qualcomm (NASDAQ:QCOM) announced the acquisition of the generative AI division of VinAI, which is an AI research company. The value of this deal has not been disclosed in the announcement. The company aims to expand its AI capabilities through this acquisition. This is the firm’s second acquisition so far this year.
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