Ericsson
ERIC
has joined forces with Google Cloud to develop 5G and edge cloud solutions that will help communications service providers (CSPs) to digitally transform their business. With these solutions, CSPs will be able to unlock avant-garde use cases.
Owned by
Alphabet
GOOGL
, Google Cloud provides infrastructure and data analytics platforms, collaboration tools and other services for enterprise customers. Earlier, Ericsson and Google made a service partnership to enable the digital transformation of operator networks and application migration.
The market leaders are working together to develop advanced solutions at Ericsson’s Silicon Valley D-15 Labs. This is a state-of-the-art facility where cutting-edge technologies are tested on a live 5G platform.
Ericsson and Google Cloud are currently piloting enterprise applications at the edge on a live network with TIM, a leading telecommunications company in Italy. The project is aimed at automating the functions of TIM’s core 5G network and cloud-based applications. It will see the use of TIM’s Telco Cloud infrastructure, Google Cloud solutions and Ericsson’s 5G core network and orchestration technologies.
Organizations around the world are finding it increasingly difficult to build more digitized operations and offer new digital experiences to their customers. The combined capabilities will help firms in the automotive, manufacturing and other industries increase efficiency by bringing connectivity close to their locations.
Companies can accelerate the digital transformation by leveraging 5G and cloud capabilities like artificial intelligence and machine learning at the edge.
Ericsson is well positioned to take advantage of the market momentum with a competitive 5G product portfolio. The company expects to benefit from its strategy that hinges on increased investments in research and development for technology and cost leadership.
Ericsson continues to invest in strengthening its portfolio and expanding global footprint. It aims to create a strong platform for the long term with competitiveness in core business and enterprise applications.
Ericsson’s shares have gained 35.1% in the past year compared with 48.1% growth of the
industry
.
Image Source: Zacks Investment Research
The stock currently carries a Zacks Rank #3 (Hold).
A couple of better-ranked stocks in the broader industry are
United States
Cellular Corporation
USM
and
Cambium Networks Corporation
CMBM
, both sporting a Zacks Rank #1 (Strong Buy). You can see
the complete list of today’s Zacks #1 Rank stocks here
.
U.S. Cellular delivered a trailing four-quarter earnings surprise of 123.9%, on average.
Cambium delivered a trailing four-quarter earnings surprise of 46.5%, on average.
Zacks Names “Single Best Pick to Double”
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.
Click to get this free report