Qualcomm Technologies, Inc., a subsidiary of Qualcomm Incorporated (QCOM - Free Report) , Ford Motor Company (F - Free Report) and Panasonic Corporation of North America have entered into an agreement for deployment of Cellular Vehicle-to-Everything (C-V2X) technology in the state of Colorado.
The strategic move marks the first U.S. deployment of C-V2X technology and is an extension of previously announced partnership between the Colorado Department of Transportation and Panasonic, to integrate connected vehicle technology in Colorado. These three entities have collaborated their advanced development efforts to facilitate in deployment of the technology and to assess C-V2X capabilities.
C-V2X is a state-of-the-art technology with superior and predictable radio performance, cost efficiency and an evolutionary path toward 5G. It facilitates Vehicle-to-Vehicle (V2V), Vehicle-to-Roadside Infrastructure (V2I) and Vehicle-to-Pedestrian (V2P) connectivity without the involvement of a cellular network or cellular network subscription, by operating on designated and harmonized 5.9 GHz ITS spectrum.
Qualcomm Technologies remains committed to supporting safe, connected automotive transportation and has been engaged with the V2X ecosystem for several years now. The Qualcomm 9150 C-V2X chipset empowers automakers and roadside infrastructure providers with enhanced V2X capabilities for safety and autonomous driving. C-V2X technology complements other vehicle sensor technologies by extending a vehicle's ability to see further down the road and providing a higher level of predictability for enhanced safety.
The Qualcomm C-V2X Reference Design includes the Qualcomm 9150 C-V2X chipset with integrated Global Navigation Satellite System capability for accurate positioning, an application processor running the Intelligent Transportation Systems V2X stack and a Hardware Security Module to provide secure V2X communications.
Qualcomm’s expertise in wireless technologies has allowed it to accelerate innovation, not only in the mobile industry but also in the automotive industry. The company has worked with the automotive industry by collaborating with industry leaders and supporting automakers with the technologies and platforms to help power connected and autonomous vehicles with a variety of communications, location and computing solutions.
However, shares of Qualcomm have underperformed the industry with an average loss of 8.5% compared with 2.2% decline for the latter in the past three months. It remains to be seen if such collaborative efforts can boost the company’s return on investment and enhance its top-line growth, going forward.
Qualcomm currently has a Zacks Rank #3 (Hold). Better-ranked stocks in the industry include Motorola Solutions, Inc. (MSI - Free Report) and Ubiquiti Networks, Inc. (UBNT - Free Report) , both carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Motorola Solutions has an expected long-term earnings growth rate of 8%. It beat earnings estimates in each of the trailing four quarters, the average being 12.1%.
Ubiquiti Networks has an expected long-term earnings growth rate of 18.6%. It exceeded earnings estimates thrice in the trailing four quarters, with an average of positive surprise of 8.9%.
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