The Federal Reserve most likely won't raise interest rates for the remainder of the year so dividend-paying stocks are still an investor's best bet for income.
Qualcomm (QCOM) , Cisco (CSCO) and Philips (PHG) are three tech giants with yields greater than 3% and a history of innovation and growth. Expect these companies to continue driving earnings and dividend growth in 2017.
Cisco is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. See how Cramer rates the stock here. Want to be alerted before Cramer buys or sells CSCO? Learn more now.
Qualcomm is a leading provider of wireless technology and services for mobile devices and in developing and commercializing Code Division Multiple Access (CDMA) technology. The firm is among the leaders in producing key component parts for top smartphones, including Apple's iPhone and Samsung's S-Series, as well as tablet PCs.
Qualcomm is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. See how Cramer rates the stock here. Want to be alerted before Cramer buys or sells QCOM? Learn more now.
Despite increased competition from Intel, Qualcomm is still in a leading position in the mobile chip market. It is well-positioned to benefit from consumers upgrading to newer, faster smartphones.
Global market penetration for smartphones is still low compared to the developed world, so there is room for more global consumers to switch from older cellphones with less functionality to smartphones. Management expects this trend to boost annual growth of devices sales containing Qualcomm's chips by more than 20% over the next few years.
Although management is more focused on investing profits in innovation, R&D, acquisitions and organic growth rather than boosting payouts, the company does offer a good yield of about 3.2%.