#4 - Qualcomm (NASDAQ:QCOM)
Qualcomm (NASDAQ: QCOM) - One of the key drivers of the tech sector will be the emergence of 5G wireless technology. At present, the network is just getting built out in some major U.S. cities. However, the ultimate application is smartphones, and that’s why Qualcomm is looking good right now. To be clear, QCOM stock is not for the faint of heart. Just last year the stock rose nearly 25% before giving back virtually all its gains as it got caught up in the swoon that fell over the entire tech sector. This year, the stock has not come out of the gate particularly strong, but that is expected to change. The company just introduced their latest 5G cellular modem the Snapdragon X55. Smartphone manufacturers are looking to accelerate the production of 5G smartphones. For example, only the very top of Samsung’s current Galaxy series of smartphones is 5G-enabled. But the one that does uses Qualcomm’s previous generation Snapdragon product. As Samsung looks to roll-out future versions of the Galaxy phones, they will likely all be 5G enabled with Qualcomm technology. In addition to aggressively taking the lead in the mobile processor technology space, Qualcomm should be able to enjoy higher margins.
About QUALCOMM
QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.
Read More - Current Price
- $163.30
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 12 Buy Ratings, 6 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $158.86 (2.7% Downside)
