Laser Focus World is an industry bedrock—first published in 1965 and still going strong. We publish original articles about cutting-edge advances in lasers, optics, photonics, sensors, and quantum technologies, as well as test and measurement, and the shift currently underway to usher in the photonic integrated circuits, optical interconnects, and copackaged electronics and photonics to deliver the speed and efficiency essential for data centers of the future.

Our 80,000 qualified print subscribers—and 130,000 12-month engaged online audience—trust us to dive in and provide original journalism you won’t find elsewhere covering key emerging areas such as laser-driven inertial confinement fusion, lasers in space, integrated photonics, chipscale lasers, LiDAR, metasurfaces, high-energy laser weaponry, photonic crystals, and quantum computing/sensors/communications. We cover the innovations driving these markets.

Laser Focus World is part of Endeavor Business Media, a division of EndeavorB2B.

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Editorial Advisory Board

  • Professor Andrea M. Armani, University of Southern California
  • Ruti Ben-Shlomi, Ph.D., LightSolver
  • James Butler, Ph.D., Hamamatsu
  • Natalie Fardian-Melamed, Ph.D., Columbia University
  • Justin Sigley, Ph.D., AmeriCOM
  • Professor Birgit Stiller, Max Planck Institute for the Science of Light, and Leibniz University of Hannover
  • Professor Stephen Sweeney, University of Glasgow
  • Mohan Wang, Ph.D., University of Oxford
  • Professor Xuchen Wang, Harbin Engineering University
  • Professor Stefan Witte, Delft University of Technology

1 Cash-Producing Stock Worth Your Attention and 2 We Brush Off

QCOM Cover Image

A company that generates cash isn’t automatically a winner. Some businesses stockpile cash but fail to reinvest wisely, limiting their ability to expand.

Luckily for you, we built StockStory to help you separate the good from the bad. Keeping that in mind, here is one cash-producing company that excels at turning cash into shareholder value and two that may face some trouble.

Two Stocks to Sell:

Hershey (HSY)

Trailing 12-Month Free Cash Flow Margin: 14.6%

Best known for its milk chocolate bar and Hershey's Kisses, Hershey (NYSE: HSY) is an iconic company known for its chocolate products.

Why Is HSY Not Exciting?

  1. Declining unit sales over the past two years indicate demand is soft and that the company may need to revise its product strategy
  2. Costs have risen faster than its revenue over the last year, causing its operating margin to decline by 4.4 percentage points
  3. Flat earnings per share over the last three years underperformed the sector average

Hershey is trading at $187.79 per share, or 32.5x forward P/E. Check out our free in-depth research report to learn more about why HSY doesn’t pass our bar.

Vulcan Materials (VMC)

Trailing 12-Month Free Cash Flow Margin: 14.5%

Founded in 1909, Vulcan Materials (NYSE: VMC) is a producer of construction aggregates, primarily crushed stone, sand, and gravel.

Why Are We Wary of VMC?

  1. Products and services are facing end-market challenges during this cycle, as seen in its flat sales over the last two years
  2. Sluggish trends in its tons shipped suggest customers aren’t adopting its solutions as quickly as the company hoped
  3. Gross margin of 25% reflects its high production costs

Vulcan Materials’s stock price of $294.84 implies a valuation ratio of 32.5x forward P/E. If you’re considering VMC for your portfolio, see our FREE research report to learn more.

One Stock to Watch:

Qualcomm (QCOM)

Trailing 12-Month Free Cash Flow Margin: 27%

Having been at the forefront of developing the standards for cellular connectivity for over four decades, Qualcomm (NASDAQ: QCOM) is a leading innovator and a fabless manufacturer of wireless technology chips used in smartphones, autos and internet of things appliances.

Why Could QCOM Be a Winner?

  1. Market share has increased this cycle as its 16.7% annual revenue growth over the last five years was exceptional
  2. Robust free cash flow margin of 30.1% gives it many options for capital deployment
  3. Stellar returns on capital showcase management’s ability to surface highly profitable business ventures

At $162.98 per share, Qualcomm trades at 13.8x forward P/E. Is now the time to initiate a position? Find out in our full research report, it’s free for active Edge members.

Stocks We Like Even More

Trump’s April 2025 tariff bombshell triggered a massive market selloff, but stocks have since staged an impressive recovery, leaving those who panic sold on the sidelines.

Take advantage of the rebound by checking out our Top 5 Strong Momentum Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025).

Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Exlservice (+354% five-year return). Find your next big winner with StockStory today for free. Find your next big winner with StockStory today. Find your next big winner with StockStory today

StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here.

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