Qualcomm Incorporated’s QCOM wholly owned subsidiary — Qualcomm Technologies, Inc. — recently announced its Networking Pro Series platforms. This represents the chipmaker’s second-gen Wi-Fi 6 networking offerings, developed to deliver the optimum Wi-Fi 6 connectivity experience across a diverse range of applications.
At its Wi-Fi 6 Day in San Francisco, the company is exhibiting the Networking Pro Series, which includes four platforms — 1200, 800, 600 and 400 — characterized by format, scale of application, and computing needs. Presently, the platforms are available to customers.
Derived from decades of R&D and engineering expertise across multiple connectivity portfolios, the Qualcomm Networking Pro Series platforms offer a highly differentiated portfolio of features that go far beyond the standards to deliver superior performance results.
Qualcomm’s platforms elevate the bar for management of increasing number of connected devices. Markedly, the platforms leverage the company’s Wi-Fi 6 architecture and are designed for densely congested networks.
The company’s Networking Pro Series spans four tiered platforms designed to provide OEMs with maximum flexibility. Each platform leverages all elements of Qualcomm Technologies’ Wi-Fi 6 differentiated feature implementation.
Qualcomm is known to be one of the largest manufacturers of wireless chipset built on baseband technology. The company has been trying to retain its leadership in 5G, chipset market and mobile connectivity with several technological feats and state-of-the-art product launches.
In April, Qualcomm reached a surprise settlement that cleared the road for iPhones to once again use its modem chips. The company continues to execute its strategic objectives, including driving the global transition to 5G, protecting the value of its technology, and expanding into new industries and product categories for future growth.
For the fourth quarter of fiscal 2019, Qualcomm expects revenues in the range of $4.3-$5.1 billion. Non-GAAP earnings are projected in the 65-75 cents per share range. Revenues from Qualcomm Technology Licensing (QTL) are expected between $1 billion and $1.2 billion.
For Qualcomm CDMA Technologies (QCT), the company anticipates Mobile Station Modem (MSM) chip shipments to be in the range of 140 million to 160 million units.
Qualcomm has long-term earnings growth expectation of 12.8%. The stock has rallied 28.3% compared with the industry’s growth of 13.1% in the year-to-date period.
Zacks Rank & Stocks to Consider
Qualcomm currently has a Zacks Rank #5 (Strong Sell). Some better-ranked stocks in the industry include PCTEL, Inc. PCTI, Nokia Corp. NOK and Sonim Technologies, Inc. SONM. While PCTEL sports a Zacks Rank #1 (Strong Buy), Nokia and Sonim carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
PCTEL surpassed earnings estimates thrice in the trailing four quarters, the average positive surprise being 146.4%.
Nokia surpassed earnings estimates thrice in the trailing four quarters, the average positive surprise being 89.3%.
Sonim has long-term earnings growth expectation of 25%.
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