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QCOM Boosts Digital Transformation in Saudi Arabia: Stock to Gain?
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Qualcomm Technologies, Inc. (QCOM - Free Report) recently announced that it has collaborated with Aramco to deploy generative AI-powered Internet of Things (IoT) solutions to accelerate digital transformation initiatives in Saudi Arabia. The leading-edge solutions are designed to improve efficiency, safety and sustainability in industrial operations.
The solution suite includes a Rapid Response Solution that bolsters situational awareness and minimizes operational disruptions with the help of on-device AI and computer vision. The system features autonomous AI drones equipped with generative AI flight control that provide quick and effective responses to onsite incidents.
The Factory Monitoring Solution delivers real-time insights and predictive analytics to enhance operational efficiency and safety with advanced video surveillance. Utilizing multimodal inputs and hybrid AI in conjunction with on-device AI and edge cloud AI processing, the Equipment Maintenance Solution streamlines maintenance practices. Moreover, its AI native worker assist technology effectively predicts and prevents equipment failures, optimizing performance, lowering maintenance costs and reducing downtime.
In addition to this, QCOM and Aramco also introduced the world’s first processors with native support for 5G in 450 MHz spectrum. The cutting-edge IoT processors called Qualcomm QCS8550 and QCS6490 are designed to deliver enhanced 5G connectivity with resilient coverage in the 450 MHz band. Post-deployment, the network infrastructure will seamlessly connect a range of intelligent edge devices such as industrial handhelds, ruggedized smartphones, and other critical IoT equipment. Qualcomm’s industry-leading 5G modem-to-RF solutions will be utilized to optimize the performance of 450 MHz-enabled IoT devices.
The strategic collaboration primarily emphasizes on augmenting connectivity and efficiency in industrial sectors through AI native technologies and advanced 5G. It marks a significant step in the digital transformation journey of the middle eastern country.
Will This Collaboration Boost QCOM’s Share Performance?
The strategic partnership with Aramco has provided Qualcomm with a strong presence in the Middle East region. The initiatives undertaken by the collaboration are aligned with Saudi Arabia’s vision to strengthen the national research and innovation ecosystem. The success of the recent venture will likely open up other emerging markets in the Middle East for Qualcomm.
QCOM’s Stock Price Performance
Shares of the company have gained 47.8% in the past year compared with the industry’s growth of 40.5%.
Image Source: Zacks Investment Research
Zacks Rank & Stocks to Consider
Qualcomm currently carries a Zacks Rank #3 (Hold).
In the last reported quarter, it delivered an earnings surprise of 8.25%. It is engaged in providing cloud networking solutions for data centers and cloud computing environments. The company offers 10/25/40/50/100 Gigabit Ethernet switches and routers optimized for next-generation data center networks.
Ubiquiti Inc. (UI - Free Report) sports a Zacks Rank #1 at present. The company offers a comprehensive portfolio of networking products and solutions for service providers and enterprises.
Its excellent global business model, which is flexible and adaptable to evolving changes in markets, helps it to beat challenges and maximize growth. The company’s effective management of its strong global network of more than 100 distributors and master resellers improved its UI’s visibility for future demand and inventory management techniques.
Workday Inc. (WDAY - Free Report) carries a Zacks Rank of 2 (Buy) at present. In the last reported quarter, it delivered an earnings surprise of 7.36%.
WDAY is a leading provider of enterprise-level software solutions for financial management and human resource domains. The company’s cloud-based platform combines finance and HR in a single system that makes the process easier for organizations to provide analytical insights and decision support.
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QCOM Boosts Digital Transformation in Saudi Arabia: Stock to Gain?
Qualcomm Technologies, Inc. (QCOM - Free Report) recently announced that it has collaborated with Aramco to deploy generative AI-powered Internet of Things (IoT) solutions to accelerate digital transformation initiatives in Saudi Arabia. The leading-edge solutions are designed to improve efficiency, safety and sustainability in industrial operations.
The solution suite includes a Rapid Response Solution that bolsters situational awareness and minimizes operational disruptions with the help of on-device AI and computer vision. The system features autonomous AI drones equipped with generative AI flight control that provide quick and effective responses to onsite incidents.
The Factory Monitoring Solution delivers real-time insights and predictive analytics to enhance operational efficiency and safety with advanced video surveillance. Utilizing multimodal inputs and hybrid AI in conjunction with on-device AI and edge cloud AI processing, the Equipment Maintenance Solution streamlines maintenance practices. Moreover, its AI native worker assist technology effectively predicts and prevents equipment failures, optimizing performance, lowering maintenance costs and reducing downtime.
In addition to this, QCOM and Aramco also introduced the world’s first processors with native support for 5G in 450 MHz spectrum. The cutting-edge IoT processors called Qualcomm QCS8550 and QCS6490 are designed to deliver enhanced 5G connectivity with resilient coverage in the 450 MHz band. Post-deployment, the network infrastructure will seamlessly connect a range of intelligent edge devices such as industrial handhelds, ruggedized smartphones, and other critical IoT equipment. Qualcomm’s industry-leading 5G modem-to-RF solutions will be utilized to optimize the performance of 450 MHz-enabled IoT devices.
The strategic collaboration primarily emphasizes on augmenting connectivity and efficiency in industrial sectors through AI native technologies and advanced 5G. It marks a significant step in the digital transformation journey of the middle eastern country.
Will This Collaboration Boost QCOM’s Share Performance?
The strategic partnership with Aramco has provided Qualcomm with a strong presence in the Middle East region. The initiatives undertaken by the collaboration are aligned with Saudi Arabia’s vision to strengthen the national research and innovation ecosystem. The success of the recent venture will likely open up other emerging markets in the Middle East for Qualcomm.
QCOM’s Stock Price Performance
Shares of the company have gained 47.8% in the past year compared with the industry’s growth of 40.5%.
Image Source: Zacks Investment Research
Zacks Rank & Stocks to Consider
Qualcomm currently carries a Zacks Rank #3 (Hold).
Arista Networks, Inc. (ANET - Free Report) sports a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
In the last reported quarter, it delivered an earnings surprise of 8.25%. It is engaged in providing cloud networking solutions for data centers and cloud computing environments. The company offers 10/25/40/50/100 Gigabit Ethernet switches and routers optimized for next-generation data center networks.
Ubiquiti Inc. (UI - Free Report) sports a Zacks Rank #1 at present. The company offers a comprehensive portfolio of networking products and solutions for service providers and enterprises.
Its excellent global business model, which is flexible and adaptable to evolving changes in markets, helps it to beat challenges and maximize growth. The company’s effective management of its strong global network of more than 100 distributors and master resellers improved its UI’s visibility for future demand and inventory management techniques.
Workday Inc. (WDAY - Free Report) carries a Zacks Rank of 2 (Buy) at present. In the last reported quarter, it delivered an earnings surprise of 7.36%.
WDAY is a leading provider of enterprise-level software solutions for financial management and human resource domains. The company’s cloud-based platform combines finance and HR in a single system that makes the process easier for organizations to provide analytical insights and decision support.