The years-long legal battle between Apple and Qualcomm was settled in mid-April with all litigation dismissed. Apple had been in dispute with Qualcomm over patent licenses.
Since then, he said, "the stock has bounced nicely. However, it's still way behind the XLK so even though it could bounce around a little bit and could see weakness here and there, it's still got a long way to go to make up that divergence. So that could be a good place to hide as we move through this rough patch in the market.", president at Gradient Investments, says a stock must fulfill certain criteria to make for a good hideout play.
"If you want to stay invested in the market, I think several areas you want to look at are more service-based companies versus product and manufacturing companies. You also want to avoid companies that do obviously a lot of business in China and more in the U.S.," he said during the same segment.
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