At least by my estimation, Internet of Things (IoT) stocks have been a lousy investment. For years, the tech world has been trumpeting the fact that tens of billions of products would get digitized and turned into computing devices -- and it's come true. However, a clear-cut winner in IoT has never truly emerged. 

If you're keeping score, Qualcomm (NASDAQ: QCOM) has been a great long-term winner with a fast-growing IoT segment, but it's still highly reliant on smartphones. Once upon a time, I also invested in a small company called Sierra Wireless that never really sustained any traction, before finally selling itself to , which took out significant debt to make the purchase, early in 2023.

But perhaps an industry leader is emerging in Silicon Labs (NASDAQ: SLAB). Two years ago, Silicon Motion sold its infrastructure and automotive chip business to Skyworks Solutions to transform itself into an IoT pure-play, but then had to endure a brutal bear market in 2022. With the stock showing signs of rebounding, though, is this small IoT investment a good investment as a new era of AI emerges?

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Source Fool.com