While just about everybody in local tech is crying the blues in one tune or another, the good news keeps rolling in at Qualcomm.
The stock of the San Diego-based wireless giant has shot up by 50 percent since November, and this week introduced a ground-breaking new WiFi chip.
Here is what Forbes had to say about the stock price:
However, despite all the weakness within the (wireless) sector, there has been one shining star in the group. QUALCOMM, Inc. has staged a solid rally from its November low of $28.16, gaining more than 50%. The stock is currently consolidating under resistance in the 44-45 region. The equity is also contending with resistance at a 50% retracement level in the 42.52 region. Yet, the stock is resting on support at its ascending 10-week moving average, which has helped to carry the shares higher since mid-March and should help push the stock through short-term resistance.
And here is what the industry newsletter FierceBroadbandwireless said about the new chip:
The chip vendor said it is offering the industry’s first dual-band 802.11n WiFi solution with 4×4 MIMO (multiple input multiple output) that reaches peak data rates of 600 Mbps. Qualcomm said the chip, called the WCN 1320, is designed to enable users to distribute multiple simultaneous streams of high-definition video, voice and data throughout the home via consumer devices.