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Technology Stocks : Qualcomm Moderated Thread - please read rules before posting

QCOM 175.78

+1.6%

3:53 PM EST

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To: Ramsey Su who started this subject	6/21/2002 8:39:56 AM
From: kech	of 197081

I guess Tero just couldn't take the byline for this one. Also, you have to like the line, Nokia up 4% in sympathy with Qualcomm. Qualcomm Sees Solid Quarter By TSC Staff (Tero couldn't make it for this one. ) 06/21/2002 08:11 AM EDT Strong demand for third-generation cell phones will lift Qualcomm's (QCOM:Nasdaq - news - commentary - research - analysis) third quarter earnings to the high end of its previously announced range of 21 cents to 23 cents a share. Twenty-two analysts polled by First Call produced a mean earnings estimate of 22 cents for Qualcomm's third quarter. The news sent Qualcomm's shares up 6.5% to $28.03 in the Instinet premarket. The forecast comes just one day after Nokia (symbol:Nasdaq - news - commentary - research - analysis) lowered its second-half sales estimate while leaving its estimate of the number of cell phones it will sell this year unchanged. Nokia's shares were up 4% to $12.90 in sympathy with Qualcomm's. Qualcomm makes chipsets and licenses technology based on its code-division multiple access standard for wireless devices and infrastructure. The company said it's seeing strong demand for third-generation CDMA2000 1X networks, the new Brew applications and gpsOne position location capabilities. Qualcomm also said it will hit the high end of its previous guidance of 15-16 million MSM phone chip shipments and said it's seeing strong order input for the fourth fiscal quarter ending Sept. 29, 2002.

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