Thread regarding Qualcomm (QCOM)

I bought QCOM just last week. I guess I looked at the wider picture instead of believing the constant talk about how the semiconductor industry is risky and uncertain in this market.
If we take a look at the stock value, the YTD decline is obvious, but the stock didn’t sing too low, and the company business parameters still look really good.
To put it another way, the decline in stock value more or less follows the slowing down of the economy and problems with the production, so expected. The demand for semiconductor is at an all time high so as production picks up we can expect a rise in stock.
I know everyone will open their eyes when making a purchase of a company that is valued at 120 dollars per share, but this really looks like a good opportunity to me.