Even though chip manufacturer Qualcomm (NASDAQ: QCOM) produced solid revenue and profits in fiscal 2022, nervous investors dropped the stock by 40% last year. The company has fallen out of favor on Wall Street as demand for its primary product has declined.

The good news is that industry experts expect a rebound in Qualcomm's end market in late 2023 or 2024. And with the company recently bouncing off its 52-week low, should you entertain buying the stock at current prices? Or with talk of recession in the air, are there darker times ahead?

Let's investigate.

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Source Fool.com