Today, I am removing leading cellular semiconductor designer QUALCOMM, Inc. (NASDAQ: QCOM – $48.16) from the aggressive portfolio. The company received another setback as it confirmed that the Korea Fair Trade Commission alleges certain of its practices violate Korean competition laws. The KFTC proposed that unspecified penalties and the modification of certain QUALCOMM business practices would likely remedy the situation. Although vehemently denying the allegations, the announcement comes on the heels of word that some China-based smartphone makers continue to dodge QCOM’s licensing fees. This is after a Chinese regulatory body investigated its practices and concluded the company had proper claim. We would not be surprised if Korean smartphone makers, like Samsung, also attempted to delay royalty payments to QUALCOMM until the accusation get settled. There now appears to be too much overhang on the outlook for the company and the risks far outweigh the rewards for continued holding of QUALCOMM shares. I will replace the QCOM position with a more worthwhile alternative.