Thanks to its market positioning and DeepSeek's recent breakthrough, Qualcomm could emerge as a top AI stock. Admittedly, losing Huawei was a significant setback, and Apple dropping Qualcomm as a supplier could signify the loss of a critical competitive advantage.

Artificial intelligence stocks were broadly moving higher Monday with industry leaders like Nvidia (NASDAQ:NVDA) and Palantir Technologies (NASDAQ:PLTR) rising about 4% in late afternoon trading. Yet the sector as a whole was seeing bullish support,

An Evercore analyst expects an upbeat earnings report later this month and runs down why DeepSeek fears seem overdone.