Qualcomm Inc (QCOM)

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Baird Has 5 Sizzling Technology Stocks to Buy Now for 2021
By: 24/7 Wall St. | January 6, 2021

Qualcomm

This stock has made solid moves off last year’s lows but looks poised to go even higher in this year. Qualcomm Inc. (NASDAQ: QCOM) designs, develops and supplies semiconductors and collects royalties on wireless handheld devices and infrastructure based on its dominant position in CDMA and other related technology patents.

In addition, Qualcomm provides systems software and components to wireless handset vendors and promotes applications and services that run on high-speed wireless networks. The company operates primarily through two segments: CDMA Technologies and Technology Licensing.

5G should prove to be big for the company, and the analysts said this:

Qualcomm is at the center of the unfolding 5G secular cycle. Key drivers for the stock in 2021 include an expected >2x year-over year growth in 5G phone units, expected market share gains in China given the Huawei backdrop, along with expansion of 5G use cases beyond smartphones to multiple end markets. RF represents a significant incremental revenue opportunity, characterized by high ASPs, ever-growing content, and market share gains. Qualcomm’s RF technology has now found significant traction at the two key smartphone OEMs, along at other OEMs.

Shareholders receive a 1.71% dividend. Baird has a price target of $200, well above the posted consensus target of $164.56. Qualcomm stock closed Tuesday’s trading at $152.43.

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