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.
Shares of these four technology giants are for various reasons down big this year. While more suited for aggressive growth investors, these stocks may be poised to have a very solid second half of 2021 as supply chain and additional issues are resolved and overall economic conditions trend back to normal. Despite the recent selling in all four, it still may make sense to scale buy the shares as we are approaching the summer and its slower trading volumes.
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