Timothy A. Hoyle, a Vice President and Director of Research at Haverford Trust Company, says QUALCOMM, Inc. (QCOM) is in a position to collect royalties on all 4G telecom products for the next decade and beyond.
“Any handset or telecommunication product which utilizes 4G networks has to pay QUALCOMM a royalty rate for utilizing their intellectual property. These industry standards have been voted on and are going to be in place for the next decade,” Hoyle said.
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Hoyle also touts QUALCOMM’s competitive edge in the mobile chip market, as the company’s Snapdragon chip is number-one in the world running mobile phones. However, it is QUALCOMM’s licensing business that attracts Hoyle to the stock.
“While we believe that the next 10 years are pretty much scripted, QUALCOMM is also spending billions of dollars a year on R&D so that next-generation products will utilize QUALCOMM intellectual property as well. So you can easily forecast outgrowth through 2020,” Hoyle said.
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