July 30, 2020, 2:38 pm EDT
Stock Picks: 5G Is the Key
What is the key element for internet, communication, gaming, internet-of-the-thing, driverless car, work-from-high, superfast video download, and numerous applications for the future ? The answer is 5G.
5G leaders, Qualcomm (QCOM) +15% and Qrovo (QRVO) +12%, are breaking out together to confirm the industry needs to embrace 5G for months and years to come. In addition to 5G, QRVO has Radio Frequency (RF), power management, Millimeter wave portfolio for defense system, GaN/GaAs foundry processes and advanced package expertise for its unique competitive advantages.
Technically, gap-up breaking out from the 2-month base clears out all resistance, it opens up potential uptrend development. Entry point should be 120-128 and sell-stop 115.