Chip supplier Qualcomm just released a new generation of mobile phone processor chips that will power 5G smartphones in the United States in 2019. The Snapdragon 855 chip has a modem for phones to connect to 5G wireless data networks with mobile data speeds of up to 50 or 100 times faster than current 4G networks.
Mobile carriers are investing in 5G networks and are eager to sell 5G phones and data plans to recoup investment costs. Qualcomm, the largest supplier of mobile phone chips, said the Snapdragon 855 will be in Samsung 5G smartphones that will be released in the United States in the first half of 2019.
I like the chart of QCOM but with the negative money flow across the entire market right now, I’m not adding this stock to the long-term buy and hold portfolio at this time. Nevertheless, this will be a great stock to play the upcoming 5G rollout in the United States.
Disclosure: I do not hold any position in QCOM stock.