This episode contains an analysis comparing current mid-cap semiconductor companies to Qualcomm (QCOM) in 1998, seeking stocks with similar characteristics like strong revenue momentum, IP/licensing exposure, or standard adoption. The initial request generated a list of nine mid-cap candidates, each fitting one or more of the Qualcomm-1998 traits, such as Rambus (RMBS) for its licensing model or Ambarella (AMBA) for its emerging platform adoption. The analysis further focused on a top three—RMBS, AMBA, and Qorvo (QRVO)—breaking down their respective business models, financial strengths, and risks through a comparative dashboard of metrics including revenue, profitability, and Free Cash Flow (FCF). The ranking placed RMBS highest for best replicating Qualcomm’s profitable IP licensing and cash-generating model.