Bullish options flow was detected in QCOM stock on January 17, 2020.
On January 17, 2020, Qualcomm (QCOM) was upgraded to a Buy rating, from Neutral, at Citi with analyst Christopher Danely saying he expects upside to both revenue and margins for Qualcomm going forward given share gains in 5G, higher selling prices, and increased royalty revenue.
On January 15, 2020, Canaccord analyst T. Michael Walkley raised his price target on Qualcomm to $115 from $101 as he believes the courts could overturn the current stay in addition to being well positioned to benefit from the transition to 5G. He is maintaining his estimates but raised his rice target on expectations of an increased multiple. Walkley reiterated his Buy rating on Qualcomm shares.
Also on January 15, 2020, DZ Bank analyst Ingo Wermann upgraded Qualcomm to Buy from Hold with a $104 price target.
On January 6, 2020, at the 2020 Consumer Electronics Show (CES):
Qualcomm (QCOM) announced its continued collaboration with General Motors (GM) to deliver state-of-the-art driving experiences to current and upcoming vehicles. The companies aim to the deliver safe, intelligent next generation vehicles. As a part of the long-standing relationship, GM plans to continue working with Qualcomm Technologies to power digital cockpit, telematics and advanced driver-assistance systems. “Qualcomm Technologies’ commitment to the automotive industry has resulted in several of our foundational technologies being introduced into products for connectivity and cockpit applications, and as introduced at CES 2020 today, we are now expanding into the ADAS domain,” said Cristiano Amon, president, Qualcomm Incorporated. “As we enter a new era of innovation built on high performance low power compute and AI, we are very pleased to be expanding our decade long partnership with GM to the digital cockpit and ADAS systems. We are extremely proud that our longstanding relationship and work with GM can serve as an example of how Qualcomm Technologies works with leaders in the automotive industry to define the future of smart and connected vehicles.”
Qualcomm announced the new Qualcomm Car-to-Cloud Service, the company’s first offering of an integrated, secure connected-car services suite for Qualcomm Snapdragon Automotive Cockpit Platforms and Qualcomm Snapdragon Automotive 4G and 5G Platforms. Leveraging the company’s broad set of technology assets, the Qualcomm Car-to-Cloud Service is designed to help automakers keep cockpit and telematics systems up-to-date, and future-proof vehicles by delivering the flexibility needed to activate features at any time, helping automakers to keep pace with consumer technology trends despite the traditional automotive product development cycles. The Qualcomm Car-to-Cloud Service also provides automakers the opportunity to unlock new revenue streams throughout the lifecycle of a vehicle with over-the-air updates, on-demand unlocking of features and pay-as-you-use services, as well as gather valuable vehicle and usage analytics.
Qualcomm (QCOM) said that it and ZTE Corp. (ZTCOY) last month together achieved 5G-enabled Voice over New Radio call. The call was performed in compliance with 3GPP Release 15 specifications over the 2.5 GHz spectrum band by utilizing a ZTE’s 5G NR base station and a 5G smartphone form factor test device powered by a Qualcomm Snapdragon 5G Modem-RF System. Voice services are a fundamental offering for mobile operators, and when performed using a 5G network, it is called Voice over New Radio. The ability to complete VoNR calls will be an important step in the global mobile industry’s evolution from non-standalone to standalone, as it will allow operators to deliver high-quality voice service without having to rely on VoLTE (voice over LTE) or an LTE anchor, Qualcomm said. The 5G VoNR call is the latest in a line of milestones completed by Qualcomm Technologies and ZTE in their ongoing collaboration to support the evolution of 5G. Previously, collaboration between the two companies produced the world’s first end-to-end 5G NR Interoperability Data Testing system demonstrating a data connection based on 3GPP R15 standard in November 2017 in China. Additionally, the companies completed a live demonstration of 5G network services based on an end-to-end sub-6GHz commercial system in February 2019 in China. More recently, Qualcomm Technologies and ZTE completed the first 5G mobile phone millimeter-wave interoperability test in the country. “This achievement with ZTE allows us to further support our goal of unlocking 5G’s ability to power worldwide connectivity capabilities,” said Durga Malladi, senior vice president and general manager, 4G/5G, Qualcomm Technologies, Inc. “At Qualcomm Technologies, we are committed to continuing the progression of 5G so we can in turn help drive innovation and economies worldwide.”