Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 165.26

-2.4%

3:59 PM EST

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To: Craig Schilling who started this subject	10/11/2001 10:08:17 AM
From: Cooters	Read Replies (1) of 152472

RESEARCH ALERT-JP Morgan H&Q raises Qualcomm to "buy" NEW YORK, Oct 11 (Reuters) - JP Morgan H&Q on Thursday said it was raising its rating on Qualcomm <QCOM.O> to a "buy" rating from a "long-term buy" rating. JP Morgan H&Q analyst Ed Snyder said in a research report that the upgrade follows Motorola Inc.'s <MOT.N> confirmation that China is taking CDMA, or code division multiple access, equipment that will results in royalties now and handset royalties in 2002. In addition 1XRTT (a data product for CDMA phones) is doing well in Korea and will accelerate when Sprint Corp. <FON.N> starts to deploy in the United States in the first half of 2002, he said. Snyder said there is a 95 percent probability the stock will trade higher than its current price-to-earnings ratio with most likely trading range between $60 to $68. Qualcomm's stock was up $3.45, or almost 8 percent, at $48.40 in Nasdaq trading on Thursday morning. Qualcomm developed the CDMA technology that competes with other standards globally, including Asia's dominant GSM, or global system for mobile communications, standard. Snyder said downward revisions to Qualcomm's guidance for 2001 CDMA handsets and ASIC chip sales are required, but believes those events are already priced into the stock. 09:59 10-11-01

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