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

QCOM 174.18

+1.1%

Dec 18 3:59 PM EST

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To: JGoren who wrote (9244)	3/29/2001 5:10:58 PM
From: cfoe	Read Replies (1) of 196991

Has anyone read the entire CIBC report? Yes, got copy faxed to me by my broker at CIBC. Started of with "Investment conclusion: We continue to rate the shares of Qualcomm a Strong Buy and we are maintaining our 12 to 18 month target price of $110 per share. The company continues to be well positioned as a significant beneficiary of future growth in wireless communications." Of course, this did not get the same level of play as the title -"QCOM: Lowering Estimates". It goes on to say [bold are my emphasis added] "We are comfortable with our estimates for the march quarter. We believe the company will be buoyed by strong license revenue and chip shipments of 17 million. However, we believe that as the technology recession continues, license revenue could be more difficult. We are also skeptical of the 90 million CDMA phone estimate that Qualcomm continues to support. We believe that while chipset sales could move up slightly in the June quarter, we are becoming more cautious." It then went on to give the lowered earnings estimates. How does it handle China. Nada mention. Remember, QCOM has not included this in its numbers, so I would doubt that the analysts will do this until they do. 6 cents per share is the royalty on China infra. Don't understand what you mean by this. Can you explain?

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