Qualcomm (QCOM - Get Report) is the developer and owner of code division multiple access technology, a communications standard used in wireless networks. It has leveraged that expertise into the semiconductor market, where it is a key supplier of chips to wireless handset makers and also generates royalty revenue by licensing its intellectual property.
Church said the company is "in a sweet spot as a mobility (products supplier) in that it's product-agnostic. It doesn't matter if it's an Android or Apple mobile device, Qualcomm has exposure to them all" as the company has ownership of a technology that makes them the go-to company in portable communications. "They have a technology lead that makes them sort of the new Intel (INTC - Get Report)."Qualcomm continues to diversify, announcing Monday that it's boosting its wireless health-care efforts, which will help customers connect their home medical-monitoring devices to an online database and access the data from their cellphones, PCs and other devices. Qualcomm shares are up 12% this year and have an average annual return of 21% over three years, resulting in a $92 billion market value. The shares carry a 1.58% dividend yield.