This Stock Is a Screaming Bargain That You Won't Regret Buying Hand Over Fist for the Long Run
Semiconductor stocks have taken a beating in the market this past year, which is evident from the 28% decline in the PHLX Semiconductor Sector index. Investors have lost confidence in this sector amid poor sales in key verticals such as personal computers and smartphones.
Qualcomm (NASDAQ: QCOM) is among those that have borne the brunt of the sell-off in semiconductor stocks. Shares of the chipmaker are down 36% in the past year, which isn't surprising as the smartphone market's weakness weighs on its financial performance.
So it wouldn't be surprising to see the chipmaker's shares remain under pressure in 2023. However, the company has set its sights on a massive opportunity that could supercharge its long-term growth.
Source Fool.com
