Shares of Qualcomm (QCOM, Financial) rebounded from the first-quarter sell-off, rising considerably for the one-year period due to the company's strong position in 5G cellular technology. During the period, the company was able to resolve all its remaining licensing disputes, thereby stabilizing that business and leaving investors to focus on its earnings growth runway as 5G devices proliferate.
From the T Rowe Price Equity Income Fund (Trades, Portfolio)'s 2020 annual shareholder letter.
