Qualcomm faces many challenges moving forward. Ongoing antitrust issues may end up cutting into the royalties and licensing fees it receives from smartphone manufacturers. And that smartphone market is slowing. 5G rollout will of course result in a sales bump, but that won't last forever. 5G in laptops is interesting, but it's not going to save the day for QCOM stock when PC sales continue to be in decline. The company's efforts in smartwatches have failed to gain traction against the Apple Watch.