Qualcomm Incorporated’s ( QCOM Quick Quote QCOM - Free Report) subsidiary — Qualcomm Technologies, Inc. — achieved the world’s first large-bandwidth 2x30MHz 5G data call demonstration on the 700 MHz Frequency Division Duplex (FDD) spectrum band through collaboration with China Broadcasting Network (“CBN”). Founded in May 2014, CBN is a Chinese state-owned carrier and is the sole operator of cable TV networks providing mobile, fixed broadband, satellite communication and public safety services. The company was granted a 5G license by the China government in June 2019, becoming one of the four 5G carriers in the country. CBN had announced plans to deploy a nationwide 700 MHz 5G network, together with China Mobile, in May 2020. The latest demonstration was conducted in compliance with the 2x30MHz technical specifications of CBN’s 700 MHz FDD band. It used a 5G smartphone form factor mobile test device powered by Qualcomm’s Snapdragon X55 5G Modem-RF System. This showcased download speed of more than 300 Mbps and will likely accelerate CBN’s commercial 5G rollouts. Qualcomm joined forces with Vivo, ZTE, Quectel, Fibocom and Gosuncn to launch the first group of commercial 5G devices that support CBN’s 700 MHz. This comprises smartphones, customer premise equipment and 5G modules, fueled by the Snapdragon 865 5G Mobile Platform or Snapdragon X55 5G Modem-RF System. Qualcomm is working with the mobile industry to accelerate the readiness of 5G networks and mobile devices. The San Diego, CA-based wireless technology innovator is positioned to support CBN’s deployment of 5G devices and services. Qualcomm is benefiting from the investments toward building a licensing program in mobile. Moreover, it resolved a dispute with Huawei and inked a new long-term global patent license agreement. Qualcomm’s shares have returned 51.9% in the past year compared with 22.6% growth of the industry. The company has a long-term earnings growth expectation of 19.8% compared with the industry’s 15.1%. Qualcomm has a trailing four-quarter earnings surprise of 14.3%, on average. The Zacks Consensus Estimate for its current-year earnings has been revised 6.6% upward in the past 30 days. Qualcomm carries a Zacks Rank #2 (Buy), at present. Some other top-ranked stocks in the broader industry are Turtle Beach Corporation ( HEAR Quick Quote HEAR - Free Report) , Plantronics, Inc. and Clearfield, Inc. ( CLFD Quick Quote CLFD - Free Report) , each carrying a Zacks Rank #2. You can see . the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here Turtle Beach has a trailing four-quarter earnings surprise of 41%, on average. Plantronics has a trailing four-quarter earnings surprise of 540%, on average. The company’s earnings beat the Zacks Consensus Estimate in three of the last four quarters. Clearfield has a trailing four-quarter earnings surprise of 45.6%, on average. The company’s earnings topped the consensus estimate in two of the last four quarters. 5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor. Today, See These 5 Potential Home Runs >>