I know that Q does not need CNBC. But that was one of the most unprofessional performances I have seen. They even alerted the viewers before hand that they were going to discuss Qualcomm. Then, when they brought it up, they said this was an example of a lesser analyst trying to make a name for himself on a slow day when nothing else is going on. They compare his estimate with estimates for CMRC, as if the two companies have anything to do with each other. Finally, they stated the analyst's reasons for his estimate, including 85% of phones within ten years using CDMA, a $20B royalty stream to Q, etc. They did not counter any of that; instead, they went back to discussing liability suits if the analysts are wrong.
I realize this is TV, and has little to do with reality. I also don't mind if they have negative things to say about any company, including Q. If they disagree with a 1000 target, let's hear their reasons, we can all benefit. But to do an ad hominem attack on an analyst only because they don't like his forecast is childish, boorish, and unprofessional.
As I have said many times before, the only good thing about CNBC is Maria Bartolomo, but you've got to turn the sound down. |
