This AI Chip Stock Just Signed Massive Deals With 3 Hyperscalers, and It Still Looks Like a Great Buy Right Now (Hint: Not Nvidia or Intel)

Qualcomm has signed major deals with three hyperscalers and expects its data center chip business to grow from nearly zero to $15 billion by 2029. The company projects $5 billion in data center revenue by fiscal 2027 and expects EPS to climb to over $18 by 2029, representing 18% annualized growth. Trading at less than 18 times forward earnings, the stock appears undervalued relative to its growth prospects.