Qualcomm's (NASDAQ: QCOM) stock stumbled 40% in 2022 as investors fretted over its cooling sales of smartphone chips. The broader cyclical slowdown of the semiconductor sector, rising interest rates, and other macroeconomic headwinds made it even less appealing as investors rotated toward more balanced blue-chip stocks.
But after that steep decline, Qualcomm's stock trades at just 11 times forward earnings, and pays a forward dividend yield of 2.7%. Is it the right time to buy Qualcomm as a turnaround play? Let's review the bear and bull cases to decide.
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Source Fool.com