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Investors in the big-cap tech sector have been taken on a roller-coaster ride over the past year. Tech stocks fell hard late in 2022 due to rising interest rates and elevated inflation levels, which translated to higher interest expenses and lower margins for the sector. More recently, after a historic first-half performance for the Nasdaq 100 Index ($IUXX) to start 2023, a mixed second-quarter earnings season and signs of a sluggish global economy have weighed on investor sentiment - sparking pullbacks across the stock market over the past month.
Shares of semiconductor giant Qualcomm (QCOM) didn't perform quite as historically as the broader Nasdaq in the first half, but still managed a gain of 8.2% for the period. Since peaking just shy of $133 this past July, though, the stock has shed more than 16%. At its current levels around $111 per share, QCOM is valued at a market cap of $122.17 billion, and the stock offers shareholders a dividend yield of 2.9%.
