Qualcomm's latest results indicate that its fortunes are now turning around. The solid growth opportunity in the generative-AI smartphone market will be a tailwind for Qualcomm.

AI stocks have gone out of style in recent weeks, and while some of the names may have been overvalued, it's unlikely that an AI bubble is bursting before our eyes. Not to discount the magnitude of pain that the latest tech plunge has inflicted on investor portfolios, but the S&P 500 hasn't even officially entered correction territory (that's a 10% fall from the top) quite yet.

Qualcomm (QCOM) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

Tech stocks, including Internet of Things (IoT) stocks, are having a very tough time lately. Increased market tension is powered by a highly unstable geopolitical environment that has led to a sharp market selloff.

Semiconductor stocks represent one of the most powerful investment categories as the central asset undergirds myriad digital innovations. Without the most advanced computer chips, none of the innovations that we take for granted – especially artificial intelligence – would be possible.

One of the best ways to spot opportunity is by keeping tabs on stocks with raised price targets from leading firms like Barclays (NYSE: BCS ). Oftentimes, a firm, like Barclays will revise targets higher if the financial health of the covered stock has become far more favorable.

As you likely know, AI stocks have been pulling back in recent weeks. Qualcomm (NASDAQ: QCOM ) is no exception.

Qualcomm (QCOM) could produce exceptional returns because of its solid growth attributes.

The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price.

Recently, Zacks.com users have been paying close attention to Qualcomm (QCOM). This makes it worthwhile to examine what the stock has in store.

With solid fundamentals and healthy revenue-generating potential driven by robust demand trends, Qualcomm (QCOM) appears to be a solid investment proposition.

The S&P 500 is down "only" 6.1% since its July 16 high. So why does the drop feel so bad?