Qualcomm, Inc. (Nasdaq:QCOM) remains the favorite technology stock of Wedgewood Capital despite its share price falling over 22% this year mainly due to an ongoing legal battle with Apple and other regulatory issues. In its 2017 Q3 investor letter (you can download a copy here), Wedgewood Capital discussed why it has a bullish viewpoint on the chipmaker. Qualcomm is also a popular stock among other hedge funds in Insider Monkey’s database. There were 41 funds that held bullish positions in the chipmaker as of the end of the second quarter, including Baupost Group, Harris Associates, and Adage Capital Management.

Here is Wedgewood Capital’s investment thesis on Qualcomm, Inc

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