Technology
Why 4 Beaten-Down Tech Stock Leaders May Be Massive Second-Half Winners
May 18, 2021 7:52 am
In addition, Qualcomm provides systems software and components to wireless handset vendors and promotes applications and services that run on high-speed wireless networks. The company operates primarily through two segments: CDMA Technologies and Technology Licensing.
Analysts believe Qualcomm’s RF technology has found significant traction at the two key smartphone original equipment manufacturers, along with others, and that RF represents a significant incremental revenue opportunity for the company, characterized by high average selling prices, ever-growing content and market share gains.
Shareholders receive a 2.09% dividend. The massive $200 BofA Securities price target compares with the $171.35 consensus target. Qualcomm stock ended Monday trading at $129.80 a share.
This stock had an incredible 2020 but is down almost 17% this year. ServiceNow Inc. (NYSE: NOW) develops and sells a hosted, subscription-based suite of services designed to automate various IT department functions, such as help desk, operations management and change/release management.
The company also sells a number of applications that automate various self-service related applications outside of the IT department, such as HR onboarding, facilities requests and governance, risk and compliance. The stock remains a top pick at BofA Securities, which noted this after the company’s recent analyst day:
We attended ServiceNow’s virtual analyst day. We view reiteration of the fiscal year 2024 target of $10 billion + revenue (representing 22%+ compounded-annual-growth -rate from fiscal 2020) and 26.5% targeted margin target (or 1% annual expansion) as a neutral. We view the fiscal year 2026 revenue target of $15 billion as a positive, suggesting expected 4 year compounded-annual-growth-rate of 22%+ sustaining in fiscal 2025 and 2026
BofA Securities has set a $600 price target, but that is less than the consensus target of $606.96. Service Now stock closed at $454.40 on Monday.
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