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Qualcomm Can Double In A Year, 3X In Three Years

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Qualcomm Can Double In A Year, 3X In Three Years

Qualcomm (NASDAQ: QCOM) reported earnings that were not great. Apple Inc (NASDAQ: AAPL) cut Qualcomm off from a hefty sum of royalty payments causing their earnings to drop materially in the quarter as Qualcomm had previously announced. No surprises.

But That's Not The Story: Qualcomm Stock Has Serious Upside

A research report by Elazar Advisors said to look through the Qualcomm quarterly results and instead look what's coming the next couple of years.

They point to several factors including the start of next-generation 5G buildout, and that the company is saying their total market opportunity will triple by 2020.

On the triple Elazar said,

"We talk to a lot of companies. You don't hear companies say, 'Yeah our market's gonna triple by 2020.' But Qualcomm is saying that."

They have a twelve month target of $100 and have it as one of their top picks.

You can see their full report here.

The preceding article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

Posted-In: Long Ideas Trading Ideas

 

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