$QCOM Qualcomm Breakout Targets - Strong 5G data released

Nov 18, 2020

QCOM is making its breakout after 2 weeks of consolidation post earnings.
Fibonacci Targets $156 & $160
Positive news release this morning with NOk on 5G speeds achieved.

News Source Thefly
Nokia (NOK), Elisa (ELMUF) and Qualcomm (QCOM) announced that they have achieved the world's fastest 5G speeds on a commercial network in Finland by delivering 8 Gbps for the first time serving two 5G mmWave devices connected simultaneously. The fast speed, which was showcased at Elisa's store in Helsinki, Finland, will support a range of new low-latency, high-bandwidth services, such as high-speed video downloads, mission-critical or virtual reality, or VR, and augmented reality, or AR, applications. The service is expected to be implemented in 2021. This was achieved by utilizing Nokia's 5G mmWave technology and Qualcomm Technologies' 5G smartphone form factor test devices over Elisa's commercial 5G network. The high speed enables more high-bandwidth and latency-sensitive enterprise services, such as remotely controlled devices for industrial needs. The solution will also allow subscribers to enjoy VR/AR experiences offered to audiences in massive stadium concerts, downloading 4K video content or triple-A games in a matter of seconds, as well as enabling enhanced capacity fixed wireless access connectivity as a fiber broadband alternative. The base station utilized two Nokia AirScale radios, each using 800 MHz of commercial millimeter wave 5G spectrum at 26 GHz.