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No. of Recommendations: 2
There's no question that QCOM has been hit by some bad news in the past couple of weeks. But for anyone with a 3-5 year time horizon, this looks like a strong buying opportunity. QCOM should be able to work through today's ruling one way or another. If the trade issues with China continue, they will certainly be hit in the short term, but QCOM still looks like the long term American 5g winner no matter which way it goes.

Two main risks I see, both non-trivial:

- It becomes much more difficult to monetize their IPR, either thanks to the Justice Dept, or China's continued ability to flout IP standards worldwide, or both. As a footnote, the one good thing that could come out of today's ruling is that QCOM might finally realize that it's a better idea to partner with your customers rather than hold them hostage. The recent agreement with AAPL might have been a step in that direction.

- 5g turns out to be much less important over the next 5-10 years than the current (hyped?) consensus would indicate.

I think there's good risk/reward here, and added a bit on the open.
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