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7 Ways to Buy Apple … Without Buying AAPL

Numerous tech stocks have a hand in Apple's growth

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Qualcomm (NASDAQ:QCOM) is one of those Wall Street rebirth stories that are so compelling. The company was founded in 1985 and saw huge growth in tech and internet operations — before crashing from a split-adjusted price of almost $90 to a mere $15 per share. It tried to claw its way back with cellphones, but the smartphone business was leaving QCOM in the dust.

Now, Qualcomm has forged a highly lucrative contract with Apple for the use of its proprietary CDMS mobile technology. That has taken the stock from dead money back into growth mode — with AAPL a large driver of the nearly 40% revenue growth Qualcomm saw from fiscal 2010 to 2011

QCOM is the sole supplier of baseband chips for the iPhone 4S, and you can be sure that the iPhone 5 will be very reliant on Qualcomm technology, too. As InvestorPlace author Tom Taulli pointed out recently, the company expects to generate revenues of $18.7 billion to $19.7 billion. That’s another 25% to 32% over 2011’s numbers.

Another plus for you risk-averse investors is that unlike some of the other suppliers on this list, Qualcomm is a mega-cap tech stock with plenty of other irons in the fire. It is a $100 billion stock and won’t evaporate without Apple, paying a decent dividend to shareholders and sitting on an $11.5 billion pile of cash.

Article printed from InvestorPlace Media,

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