Mairs and Power Comments on Qualcomm

Guru stock highlight

Oct 28, 2021

Summary

A top detractor.

Qualcomm (QCOM, Financial) also continues to be a significant drag on the Fund’s relative performance. The semiconductor industry supply constraints that hurt the company earlier this year haven’t abated, and in some cases, they’ve gotten worse. Over time, we believe that investments are being made to improve the industry supply chain, and we’re confident that Qualcomm’s longer-term growth will return.

From Mairs and Power (Trades, Portfolio) Growth Fund's third-quarter 2021 letter.

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