The recent sell-off in tech stocks did not leave Qualcomm (NASDAQ: QCOM) unscathed. Although the stock price has stopped falling significantly for now, it has fallen 30% since peaking in June as investors started to sell artificial intelligence (AI) stocks.

Nonetheless, as a Qualcomm shareholder, my confidence in the company has not diminished, even though the semiconductor stock has pulled back. Instead, I plan to continue holding, and three key reasons explain why.

For all of the competitive threats, Qualcomm remains the leader in smartphone chipsets. Much like Nvidia dominates the AI chip market, Qualcomm consistently stayed ahead of the competition on the smartphone chipset side, continuing to innovate and stay ahead of well-funded and highly motivated competitors.

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Source Fool.com