Qualcomm Set to Shine in 2013
Analyst sentiment towards the company was overwhelmingly positive on Friday.
"We believe Qualcomm is well positioned to post strong earnings growth in F2013 and beyond due to stable royalty rates, strong market share for integrated chipsets, and strong growth of 3G devices in emerging markets," wrote Canaccord Genuity analyst Mike Walkley, in a note.
"Post Qualcomm's analyst meeting we reiterate our outperform rating," wrote Credit Suisse
Qualcomm, which overhauled its corporate structure earlier this year in an attempt to speed up product delivery and protect patents, also discussed the opportunities around Small Cell technology during its analyst event.
Similar to Femto Cell, Small Cell refers to a low-power radio technology which can be deployed wherever users need to boost their data capacities. Qualcomm says that the same chips it sells to phone manufacturers can be used within Small Cell devices, potentially opening the door to a lucrative new revenue stream.
"Qualcomm was optimistic on exposure to small cells," wrote Lazard Capital Markets analyst Ian Ing, in a note released on Friday. "Units could become material enough to directly impact both licensing and chipsets."
Qualcomm shares rose 0.41% to $61.53 during Friday trading.
--Written by James Rogers in New York.
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