Qualcomm Technologies, Inc., a subsidiary of Qualcomm IncorporatedQCOM recently announced that it has decided to integrate the industry's newest Wi-Fi security standard across the company's mobile and networking infrastructure portfolio.
The company intends to implement the Wi-Fi Alliance's third generation security suite - Wi-Fi Protected Access (WPA3) - to provide robust protection of user passwords and stronger privacy in public and private Wi-Fi networks.
Consumers are becoming increasingly concerned about the potential impact of security threats. With the implementation of WPA3 across mobile and networking infrastructure portfolio, Qualcomm Technologies is ensuring that its products support the newest security standard available. Furthermore, the addition of WPA3 encryption is designed to provide a more seamless on-boarding experience of Wi-Fi devices and more secure wireless access.
Users will be able to enjoy data privacy protections while using devices in public or open hotspots provided by Opportunistic Wireless Encryption. The enhanced cryptography is designed to ensure strong security protections for networking technology used in government, medical and financial networks.
Qualcomm Technologies is exhibiting industry leadership by announcing the integration of advanced security features including the recently launched 2x2 802.11ax-ready solution for client devices - the WCN3998 and IPQ807x AP platform.
Qualcomm Technologies expects to incorporate WPA3 security features into chipsets in summer 2018 for mobile devices, beginning with the Qualcomm Snapdragon 845 Mobile Platform and all Wi-Fi networking infrastructure products. The company is working closely with industry bodies like the Wi-Fi Alliance to develop security standards to protect data traffic across networks and devices.
The company continues to retain its leadership in 5G, chipset market and mobile connectivity with multiple technological achievements and launches. However, over the past three months, Qualcomm's shares have underperformed the industry with an average loss of 14.2% compared with 2.6% decline for the latter.
Qualcomm currently carries a Zacks Rank #3 (Hold). Better-ranked stocks in the broader industry include Motorola Solutions, Inc. MSI , Ubiquiti Networks, Inc. UBNT and Micron Technology, Inc. MU , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .
Motorola Solutions has an expected long-term earnings growth rate of 8%. It has exceeded earnings estimates in each of the trailing four quarters, with an average of 12.1%.
Ubiquiti Networks has an expected long-term earnings growth rate of 18.6%. It has exceeded earnings estimates thrice in the trailing four quarters, with an average of 8.9%.
Micron Technology has an expected long-term earnings growth rate of 10%. It has exceeded earnings estimates in each of the trailing four quarters, with an average of 8%.
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