Looking for top semiconductor stocks to buy and hold in 2022 and beyond? In this segment of Backstage Pass recorded on Jan. 7, Fool contributor Will Healy takes a look at Qualcomm (QCOM -1.75%) after its presentation at the 2022 CES.
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Will Healy: Yeah. Just because the conference was so poorly attended, Qualcomm used that to have a big presentation and one of their areas, what was the metaverse?
Qualcomm provides a chip for the Quest 2 VR headset that Meta Platforms makes, the company formerly known as Facebook.
They are big into that, but I really see Qualcomm as maybe the most under-appreciated big tech stock out there.
They dominate the 5G space. For all the efforts that Apple and other competitors make, you still can't make it a 5G phone without a Qualcomm chipset.
I don't want to use the word monopoly, but they pretty much dominate the space. I think a lot of investors are afraid they'll somehow lose that, maybe they will someday, but for now they dominate the space.
They only traded it about 23, 24 times earnings. Every single division of that company grew by more than 50%, the revenue grew by more than 50% in the last quarter.
Even though it's a big company, it's really on fire right now. They release all these new technologies that are outside the smartphone space.
Like I said, one of the biggest ones was the metaverse. They believe that the AR glasses are eventually going to replace some of the functions of the smartphone. I think that space is going to be huge. We need to keep watching that space.
