Ericsson ( ERIC Quick Quote ERIC - Free Report) has joined forces with Google Cloud to develop 5G and edge cloud solutions that will help communications service providers (CSPs) to digitally transform their business. With these solutions, CSPs will be able to unlock avant-garde use cases. Owned by Alphabet ( GOOGL Quick Quote GOOGL - Free Report) , Google Cloud provides infrastructure and data analytics platforms, collaboration tools and other services for enterprise customers. Earlier, Ericsson and Google made a service partnership to enable the digital transformation of operator networks and application migration. The market leaders are working together to develop advanced solutions at Ericsson’s Silicon Valley D-15 Labs. This is a state-of-the-art facility where cutting-edge technologies are tested on a live 5G platform. Ericsson and Google Cloud are currently piloting enterprise applications at the edge on a live network with TIM, a leading telecommunications company in Italy. The project is aimed at automating the functions of TIM’s core 5G network and cloud-based applications. It will see the use of TIM’s Telco Cloud infrastructure, Google Cloud solutions and Ericsson’s 5G core network and orchestration technologies. Organizations around the world are finding it increasingly difficult to build more digitized operations and offer new digital experiences to their customers. The combined capabilities will help firms in the automotive, manufacturing and other industries increase efficiency by bringing connectivity close to their locations. Companies can accelerate the digital transformation by leveraging 5G and cloud capabilities like artificial intelligence and machine learning at the edge. Ericsson is well positioned to take advantage of the market momentum with a competitive 5G product portfolio. The company expects to benefit from its strategy that hinges on increased investments in research and development for technology and cost leadership. Ericsson continues to invest in strengthening its portfolio and expanding global footprint. It aims to create a strong platform for the long term with competitiveness in core business and enterprise applications. Ericsson’s shares have gained 35.1% in the past year compared with 48.1% growth of the industry. Image Source: Zacks Investment Research
The stock currently carries a Zacks Rank #3 (Hold).
A couple of better-ranked stocks in the broader industry are United States Cellular Corporation ( USM Quick Quote USM - Free Report) and Cambium Networks Corporation ( CMBM Quick Quote CMBM - Free Report) , both sporting a Zacks Rank #1 (Strong Buy). You can see . the complete list of today’s Zacks #1 Rank stocks here U.S. Cellular delivered a trailing four-quarter earnings surprise of 123.9%, on average. Cambium delivered a trailing four-quarter earnings surprise of 46.5%, on average. Zacks Names “Single Best Pick to Double”
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