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Qualcomm (QCOM) to Help in Small Scale Businesses' Evolution

Zacks Equity Research

Qualcomm Incorporated QCOM recently announced the launch of its “Small Business Accelerator Program”, which has been specifically designed to upgrade the networking infrastructure of small scale businesses and enterprises with innovative software, collaboration tools and services. As various states begin to reopen their economies amid the COVID-19 pandemic, the strategic move is reckoned to be the call of the hour as it will help small businesses to continue their operations with a mobile-first and remote-friendly work environment.

Markedly, the program supports the mobility and productivity of small businesses with avant-garde tech-enabled solutions from Qualcomm and its partners, such as Always Connected PCs (cellular-connected laptops), Wi-Fi systems, mobile phones and Bluetooth-enabled headsets along with device integration and support. Impressively, the new-age program has collaborated with tech giants like Verizon Communications Inc. VZ and Microsoft Corporation MSFT and retail firms like Best Buy Co., Inc. BBY to provide adequate technical and transitional support for small businesses based in the United States.

Currently, the comprehensive program is in the process of accepting applications from nearly 25 applicants, who are required to describe how their business has been impacted by the current COVID-19 crisis and how transitioning to a new mobile work environment will help them in their future endeavors. Consequently, selected businesses will receive equipment and technical support worth up to $25,000. Under this program, Qualcomm along with its ecosystem of partners will offer a variety of innovative connected devices and customized cloud-based solutions for enhanced productivity and security. Some of these partners are Lenovo, Citrix, Samsung and Sophos, which will help small-scale businesses to remain competitive amid these trying times.

Considered as one of the largest manufacturers of wireless chipset based on baseband technology, Qualcomm is focused on retaining its leading position in the chipset market and mobile connectivity with several technological achievements and innovative product launches. The company is likely to help users experience seamless transition to super-fast 5G networks, delivering low-power resilient multi-gigabit connectivity with best-in-class security. Impressively, the company has redefined the computing and mobile ecosystem across the globe with the launch of QCA6390 Connectivity SoC product. This game-changing offering from Qualcomm is likely to deliver path-breaking performance in the 5G era and provide it a competitive advantage against rivals.

Qualcomm focuses on three areas — computing, connectivity and electrification. With more than 150 5G design wins to date, it is reportedly the only chipset vendor with 5G system level solutions spanning sub-6, gigahertz and millimeter wave bands. The company aims to expand its product portfolio and develop mobile phone chips for the masses.

Qualcomm has long-term earnings growth expectation of 18.4%. Shares of this Zacks Rank #3 (Hold) stock has rallied 23.4% compared with the industry’s growth of 0.8% in the past year. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.



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