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What Opportunity Does Qualcomm Bring Investors?

What Opportunity Does Qualcomm Bring Investors?

高通給投資者帶來了哪些機遇?
Tipranks ·  2021/12/01 00:36

One of the best-performing stocks of late has to be Qualcomm (QCOM). This chip maker recently soared to a new all-time high this month on a variety of catalysts.

最近表現最好的股票之一一定是高通(Qualcomm)。這家芯片製造商最近在各種催化劑的推動下,本月飆升至歷史新高。

This is a company that's devoted to developing next-generation chips for the burgeoning Internet of Things (IoT) space. Qualcomm is also a company that's integral to the functioning of the communications sector, providing a range of software and wireless technology services to bolster growth in the 5G space.

這是一家致力於為蓬勃發展的物聯網(IoT)空間開發下一代芯片的公司。高通也是一家對通信行業的運作不可或缺的公司,提供一系列軟件和無線技術服務,以支持5G空間的增長。

However, given how fast QCOM stock has run, there's undoubtedly some concerns about this company's valuation. I'm currently bullish on this stock. (See Analysts' Top Stocks on TipRanks)

然而,考慮到高通股票的運行速度如此之快,人們對該公司的估值無疑存在一些擔憂。我目前看好這隻股票。(參見分析師在TipRanks上排名靠前的股票)

Ready for Bigger Picture

準備好展現更宏大的圖景

The recent move from smartphone maker Apple (AAPL) to shift its reliance on Qualcomm to a more diversified group of chip makers (as well as produce some chips internally) has provided QCOM stock with its fair share of bears.

智能手機制造商蘋果(AAPL.O:行情)最近的舉措是AAPL)將其對高通的依賴轉移到一個更多元化的芯片製造商集團(以及在內部生產一些芯片),這為高通股票提供了相當一部分看跌。

There are concerns that a strained relationship between Apple and Qualcomm could be indicative of the potential for slower growth moving forward. However, the market appears to be taking a contrary view, looking at this company's valuation right now.

有人擔心,蘋果和高通之間的緊張關係可能預示着未來增長放緩的可能性。然而,市場似乎持相反的觀點,目前看着這家公司的估值。

That's generally because Qualcomm is not reliant on any single customer or market for growth. This is a company that's also diversified in how it chooses to do business. Given the global semiconductor shortage that's gotten a lot of attention of late, Qualcomm is in a great position in terms of pricing power and margins for the foreseeable future.

這通常是因為高通並不依賴任何單一的客户或市場來實現增長。這是一家選擇多元化經營方式的公司。考慮到最近備受關注的全球半導體短缺,高通在可預見的未來的定價權和利潤率方面處於有利地位。

Qualcomm is also confident that the company's next-generation chips represent the future of the metaverse. Recently, metaverse-related stocks have absolutely taken off. Qualcomm's ties to the IoT space and its high-quality performance chips provide investors with exposure to a growth niche other chip makers haven't targeted as aggressively.

高通還相信,該公司的下一代芯片代表了虛擬世界的未來。最近,虛擬現實相關的股票絕對起飛了。高通與物聯網領域的聯繫及其高質量的高性能芯片,為投資者提供了其他芯片製造商沒有那麼積極瞄準的增長利基市場的敞口。

As mobile chips continue to iterate toward greater computing power, and the ability to support growth areas like the metaverse, this segment is likely to get more competitive. For now though, Qualcomm appears to have a leg up on the competition.

隨着移動芯片不斷向更強大的計算能力迭代,以及支持虛擬現實等增長領域的能力,這一細分市場可能會變得更加競爭激烈。不過,就目前而言,高通似乎在競爭中佔據了優勢。

It's expected that Qualcomm will still produce around one-fifth of the chips required for the 2023 iPhone. This is a significant drop from previous numbers. However, investors appear to be very bullish on Qualcomm's ability to make up the difference (and then some) with its next generation chips.

預計高通仍將生產2023年iPhone所需芯片的五分之一左右。與之前的數字相比,這是一個顯著的下降。然而,投資者似乎非常看好高通用其下一代芯片彌補差額(然後還有一些)的能力。

What's Next for QCOM?

QCOM的下一步是什麼?

According to the company's CEO, Qualcomm will look to focus on the transformation of PCs, which is now more dynamic. The company's focus is on the need for constant cloud connectivity to collaborate and run video games. 

據高通首席執行官表示,高通將把重點放在個人電腦的轉型上,這一領域現在更具活力。該公司的重點是需要持續的雲連接來協作和運行視頻遊戲。

Further, analysts believe Qualcomm is in a very good position to become the preferred provider for PCs, with the transition to ARM looking inevitable. 

此外,分析師認為,高通處於非常有利的地位,有望成為個人電腦的首選供應商,向ARM的過渡似乎是不可避免的。

In fact, QCOM is currently working on its next generation of ARM-based CPUs, which will compete with Intel (INTC) and AMD (AMD) CPUs.

事實上,QCOM目前正在研發基於ARM的下一代CPU,這將與英特爾(INTC.O:行情)展開競爭.INTC)和AMD(AMD)CPU。

QCOM is also expected to expand its current $100-billion annual TAM to potentially $700 billion. The company is looking to achieve this by diversifying its offerings in automobiles, PCs, and new forms of wireless networking, such as fixed wireless broadband.

預計高通還將把目前每年1000億美元的TAM規模擴大到7000億美元。該公司正尋求通過使其在汽車、個人電腦和固定無線寬帶等新形式的無線網絡方面的產品多樣化來實現這一目標。

The company's CFO further stated that nearly 87% of the company's addressable market is Android, and Qualcomm is actively looking to grow this business.

該公司首席財務官進一步表示,該公司近87%的目標市場是Android,高通正積極尋求發展這一業務。

QCOM Financials

高通財務

QCOM recently announced a dividend increase to $0.68. This move improves the company's existing yield to a more respectable 1.5%, and provides a meaningful income argument to owning this stock.

高通最近宣佈將股息提高至0.68美元。此舉將該公司的現有收益率提高到了更可觀的1.5%,併為持有這隻股票提供了一個有意義的收入理由。

Qualcomm was able to make this move, due to a rather impressive earnings beat of late. The company generated revenue in Q4 of $9.34 billion and adjusted EPS of $2.25 – up by 12% and 76%, respectively, year-over-year. On the other hand, its operating revenue was also up 98% to $11.8 billion in 2021 from $5.9 billion in 2020.

高通之所以能夠採取這一舉措,是因為最近業績令人印象深刻。該公司第四季度營收為93.4億美元,調整後每股收益為2.25美元,同比分別增長12%和76%。另一方面,其運營收入也從2020年的59億美元增長到2021年的118億美元,增幅為98%。

Qualcomm's flagship business is not sitting idle either. Revenue from smartphones was up 56% to $4.69 billion in the last quarter.

高通的旗艦業務也沒有閒置。上一季度智能手機營收增長56%至46.9億美元。

Qualcomm expects its sales of IoT chips, low-power chips for smart appliances to increase to $9 billion in revenue by 2024, a jump from $5.06 billion in 2021. Its automotive business can generate revenues amounting up to $8 billion in the next 10 years, up from $1 billion in 2021. This will be partially courtesy of QCOM's new partnership with BMW, where it will provide the chips for self-driving cars.

高通預計,到2024年,其物聯網芯片(用於智能家電的低功耗芯片)的銷售收入將從2021年的50.6億美元躍升至90億美元。其汽車業務未來10年的收入可達80億美元,高於2021年的10億美元。這將在一定程度上得益於高通與寶馬(BMW)的新合作伙伴關係,高通將為自動駕駛汽車提供芯片。

Wall Street's Take

華爾街的收入

As per TipRanks' analyst rating consensus, QCOM stock is a Moderate Buy. Out of 21 analyst ratings, there are 13 Buy recommendations and eight Hold recommendations.

根據TipRanks分析師的評級共識,QCOM股票屬於適度買入。在21個分析師評級中,有13個買入建議和8個持有建議。

The average Qualcomm price target is $194.61. Analyst price targets range from a high of $225 per share, to a low of $150 per share.

高通的平均目標價為194.61美元。分析師的目標價從每股225美元的高位到150美元的低位不等。

Bottom Line

底線

As the largest chip producer in the world, Qualcomm is ably positioned to gain significant market share in the metaverse space.

作為世界上最大的芯片生產商,高通有能力在虛擬世界領域獲得巨大的市場份額。

As the metaverse rises through the ranks and takes up more investor bandwidth, Qualcomm is a company that could really take over in terms of growth in the chip space.

隨着虛擬現實的地位不斷提升,並佔用更多的投資者帶寬,高通是一家在芯片領域的增長方面真正有可能接手的公司。

Disclosure: At the time of publication, Chris MacDonald did not have a position in any of the securities mentioned in this article.

披露:在本文發表時,克里斯·麥克唐納並沒有持有本文提到的任何證券的頭寸。.

Disclaimer: The information contained in this article represents the views and opinion of the writer only, and not the views or opinion of TipRanks or its affiliates  Read full disclaimer >

免責聲明:本文中包含的信息僅代表作者的觀點和意見,不代表TipRanks或其附屬公司的觀點或觀點。閲讀完整的免責聲明>

譯文內容由第三人軟體翻譯。


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