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QCOM) is another tech sector name that's getting unloaded by big institutions after an uninspiring first half of the year. Qualcomm is a wireless chipmaker as well as a major tech IP licensor, producing everything from processors to wireless communications cards. The firm's patents effectively mean that every handset maker in the world has to pay Qualcomm royalties if they want their phones to operate on 3G and 4G networks. And while that's a lucrative business right now, the firm's growth hasn't kept up with Wall Street's expectations.
Despite the selling, firms still hold a $78 billion stake in the stock. So while they hate it this quarter, it's still a massive position on institutional portfolio statements.