InterDigital stock surged 80% in past year due to increased demand and rising earnings.

From Nasdaq: 2024-12-30 15:00:00

InterDigital, Inc. (IDCC) stock has surged 79.6% in the past year due to increased market demand, leading to a 137.1% rise in earnings estimates. With a Zacks Rank #1, the company is a strong investment option. IDCC focuses on expanding its technology portfolio and licensing agreements with major companies like Huawei and Apple.

The company’s outlook for 2024 looks promising, with revenue expectations of $855-$865 million and adjusted earnings forecasted at $14.69-$14.99 per share. IDCC aims to leverage its VGM Score of B and long-term growth potential of 15% to drive further success in the market. The company also boasts an impressive history of earnings surprises.

In addition to IDCC, other key stock picks include Arista Networks, Inc. (ANET), Workday Inc. (WDAY), and Qualcomm Incorporated (QCOM). ANET focuses on cloud architecture, while WDAY offers software solutions for human resource and finance management. QCOM is well-positioned for long-term revenue growth driven by 5G technology and a diverse revenue stream.

Zacks Investment Research is preparing to release its Top 10 Stocks for 2025, chosen by Director of Research Sheraz Mian. The Top 10 Stocks have historically outperformed the S&P 500, with gains exceeding 2,000%. The new stock picks will be announced on January 2, offering investors the opportunity to capitalize on potential market success.



Read more at Nasdaq: InterDigital Surges 80% in the Past Year: Reason to Buy IDCC Stock?