Qualcomm Incorporated (QCOM - Free Report) joined forces with San Diego Regional Proving Ground (“SDRPG”) to commence an autonomous vehicle communications research and testing program to promote vehicle safety on the roads of San Diego, CA. Markedly, SDRPG will capitalize on Qualcomm’s C-V2X solutions to facilitate automakers with best-in-class autonomous driving features, thereby boosting the latter’s competitive position in the self-driving market.
Qualcomm’s C-V2X solutions have been specifically designed to support next-gen vehicle-to-everything communications with a connected infrastructure. Equipped with sensitive safety systems, the avant-garde solution is perfectly compatible with Advanced Driver Assistance Systems sensors and 5G technology. The C-V2X is an avant-garde communication technology which includes vehicle-to-pedestrian (V2P), vehicle-to-vehicle (V2V) and vehicle-to-roadside infrastructure (V2I).
With a growing C-V2X collaboration between the automotive and telecom industries, the innovative solution enhances autonomous driving in a reliable and cost-effective manner. The research program by SDRPG, which comprises of the City of Chula Vista, San Diego Association of Governments and California Department of Transportation, will leverage Qualcomm’s 9150 C-V2X platform as part of this collaboration.
Qualcomm 9150 is a chipset solution that includes a C-V2X direct communication mode which provides seamless and low-latency communications to vehicles and roadside equipment for an improved driving experience. Markedly, the Federal Communications Commission has instructed to allocate 5.9 GHz Intelligent Transportation Systems spectrum for C-V2X, which is independent of any cellular network assistance. This makes it even more desirable among automotive enthusiasts.
Primarily, the project with the SDRPG will span across a three-mile corridor of San Diego and intends to showcase automotive safety with commercial C-V2X technology backed roadside units in realistic operating conditions. Meanwhile, other U.S. states like Virginia and Colorado have opted for limited C-V2X deployments. It is worth mentioning that this game-changing platform will not only advance vehicle communication technology testing but also enhance roadside safety infrastructure with utmost ease and flexibility.
Leveraging on such indigenous products and technology collaborations, Qualcomm aims to retain its leadership in 5G, chipset market and mobile connectivity. It is one of the largest manufacturers of wireless chipset based on baseband technology. The company is focused on three areas — computing, connectivity and electrification. With more than 150 5G design wins, Qualcomm is reportedly the only chipset vendor with 5G system level solutions covering both sub-6, gigahertz and millimeter wave bands. Also, it is helping customers experience a seamless transition to super-fast 5G networks, delivering low-power resilient multi-gigabit connectivity with best-in-class security. Markedly, Qualcomm aims to expand its product portfolio and develop mobile phone chips for the masses.
Qualcomm has a long-term earnings growth expectation of 17.6%. Shares of this Zacks Rank #3 (Hold) stock has returned 24.5% compared with the industry’s growth of 6.6% in the past year.
Some better-ranked stocks in the broader industry are T-Mobile US, Inc. (TMUS - Free Report) , Calix, Inc. (CALX - Free Report) and Nokia Corporation (NOK - Free Report) . While T-Mobile US and Calix sport a Zacks Rank #1 (Strong Buy), Nokia carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
T-Mobile US’ bottom line surpassed the Zacks Consensus Estimate in the last four quarters. The company has a trailing four-quarter earnings surprise of 19.4%, on average.
Calix’s bottom line surpassed the Zacks Consensus Estimate in the last four quarters. The company has a trailing four-quarter earnings surprise of 43%, on average.
Nokia’s bottom line surpassed the Zacks Consensus Estimate twice in the last four quarters. The company has a trailing four-quarter earnings surprise of 129.1%, on average.
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