Qualcomm Stock Is Nearly Back to Its All-Time High -- Is It Too Late to Buy?
While it's not the hottest semiconductor stock out there, Qualcomm (NASDAQ: QCOM) has been delivering solid gains so far in 2024. Year to date, it's up 14%, versus 10% for the iShares Semiconductor ETF, which tracks the performance of the top chip stocks (Nvidia included) in the U.S.
Clearly, investors are feeling optimistic about Qualcomm, but what's driving the stock higher, and is it still a good time to buy?
Qualcomm is a leader in designing mobile chips, including some of the 5G connectivity hardware in top smartphone models from the likes of Apple and Samsung. Additionally, the company has a growing presence in Internet of Things (IoT) and automotive mobile technology.
Source Fool.com