30 Billion Reasons Why This Nasdaq Stock Is a Screaming Buy
The stock market may not look like a good place to be right now, as the Federal Reserve's hawkish nature has sent equities tumbling in 2022, but this has opened a solid opportunity for savvy investors to buy some great companies at attractive valuations.
Qualcomm (NASDAQ: QCOM) is one such company that investors may want to buy hand over fist right now, especially after its latest announcement pointing toward a massive acceleration in its automotive business.
On Sept. 22, Qualcomm said in a news release that its design win pipeline in the automotive market has now increased to $30 billion thanks to the growing adoption of its Snapdragon platform in the auto industry. The release specified that the "design win pipeline reflects the current estimated future size of awarded automaker programs, based on forecasts provided directly by automakers and Tier-1 suppliers."
Source Fool.com
