Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 170.90

-1.3%

Nov 7 9:30 AM EST

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To: brian h who wrote (110739)	1/11/2002 12:43:36 PM
From: biostruggle	Read Replies (4) of 152472

QCOMs future earnings just keep slip sliding away. SAN FRANCISCO, Jan 11, 2002 (AFX-Europe via COMTEX) -- Shares in Qualcomm Inc were lower after Salomon Smith Barney cut its price target on the stock and lowered its profit forecasts for the wireless technology group. At 12.15 pm in New York trade, Qualcomm was down 0.29 usd at 46.40 while the Nasdaq Composite was up 0.79 points at 2,048.03. "In the near term, we believe there are several areas of concern that will result in lower than expected chip shipments and handset sales," the broker said of the company's prospects, citing slowing subscriber growth and expected market share gains for Qualcomm rival Nokia Corp. The broker cut its price target for Qualcomm to 55 usd from 70 and also lowered its 2002 sales estimates for the firm to 2.9 bln usd from 3.2 bln and profit forecasts to by 10 cents a share to 1.03 usd. vip/lj NNN Copyright 2002. AFX News Ltd. All rights reserved.

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