Other names we bought that are experiencing near-term controversy included Qualcomm (NASDAQ:QCOM), which remains under a legal cloud after a federal judge ruled in May that the company violated U.S. antitrust laws. Despite the company’s legal headwinds, we think that the market has underappreciated Qualcomm’s earnings growth potential and continue to like the stock over the long term.
From T Rowe Price Equity Income Fund (Trades, Portfolio)'s second-quarter 2019 shareholder letter.
