Qualcomm Inc. (NASDAQ: QCOM) has long been a frustrating stock to both watch and own. The company is firmly embedded in the red-hot semiconductor industry, has a track record of consistently beating Wall Street expectations, and continues to generate healthy cash flows. Yet, despite all that, Qualcomm shares are only barely positive for the year.
The bears will argue that this underperformance confirms a long-standing narrative of missed opportunities and poor execution, and they might well have a point.
