Barron’s Endorses Qualcomm (QCOM)

Qualcomm (NASDAQ: QCOM), which manufactures and markets digital wireless telecommunications products and services, was earlier added to Goldman Sachs' Conviction Buy list.

Now, Barron’s has also endorsed Qualcomm as a top pick and pointed out that the stock keeps getting left behind. The recent activity in smartphones and wireless has made the company very valuable. The company has a number of patents and gets a royalty on every 3G phone sold.

The company also makes chips for wireless devices. These factors have given a strong balance sheet to the company and the wireless data market is expected to grow by leaps and bounds.