Qualcomm (NASDAQ: QCOM) and Nokia (NYSE: NOK) are very different companies, but they'll both profit from the long-term growth of the 5G market, which could expand at a compound annual growth rate (CAGR) of over 30% through 2026, according to Research and Markets.
Qualcomm is one of the world's largest mobile chipmakers. Its Snapdragon system on chips (SoCs) bundle together CPUs, GPUs, and 5G baseband modems for smartphones and other devices. Its massive portfolio of wireless patents also grants it a cut of each smartphone sold worldwide.
Nokia is one of the world's largest suppliers of telecommunications equipment. Nokia-branded phones still exist, but the Finnish company no longer produces them -- it merely licenses its brand to HMD Global, a separate company that designs, manufactures, markets, and sells the devices.
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Better 5G Stock: Qualcomm vs. Nokia