Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 177.78

-2.2%

Jan 9 9:30 AM EST

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To: Craig Schilling who started this subject	1/11/2002 4:09:59 PM
From: Ruffian	Read Replies (1) of 152472

RESEARCH ALERT-WR Hambrecht cuts Qualcomm price target CHICAGO, Jan 11 (Reuters) - WR Hambrecht & Co. on Friday said it cut its 12-month price target on wireless technology firm Qualcomm Inc. (NasdaqNM:QCOM - news) to $55 from $60 due to near-term concerns over wireless subscriber growth in South Korea and the United States. Analyst Peter Friedland said in his research note that sales of cell phones based on Code Division Multiple Access (CDMA), Qualcomm's wireless technology, fell sequentially from November to December in South Korea and he expected relatively flat sequential growth going forward due to the high wireless penetration rate there. South Korea is a key market for Qualcomm. Another key market, the United States, could also show a substantial decline in the first quarter due to seasonality and overall slowing in wireless subscriber growth, he said. Friedland added that Qualcomm customer China Unicom's plan for a three-month trial of its CDMA network means China will not contribute meaningful results until the second half of the year. Shares of Qualcomm were off a penny at $46.68 on Nasdaq in late afternoon trade.

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