When it comes to smartphone chipsets, Qualcomm (NASDAQ: QCOM) was and is the market leader. The company built a collection of patents that has kept it ahead of its competition for decades. Despite efforts from Apple, Intel, and other chip developers, manufacturers must turn to Qualcomm for the latest technology.

However, Qualcomm's rapid growth has given way to declines amid an uncertain economy. With the company's move to expand into the Internet of Things (IoT) and automotive segments and likely changes to the smartphone ecosystem, one may question where the semiconductor stock will stand with investors five years from now.

Smartphones have become essential in both the developed and developing worlds. As long as Qualcomm can maintain its market lead over MediaTek and other chipset makers, it should resume growth as the economy recovers.

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Source Fool.com