Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 163.32

+2.3%

3:59 PM EST

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To: qveauriche who wrote (125130)	11/7/2002 4:58:47 PM
From: slacker711	Read Replies (3) of 152472

Now if we do the low end estimate for next quarter of 35 cents, we'd earn 1.40 with no more growth for the rest of the fiscal year. If Q earns at the high end of its 03 estimate of 1.20 that leaves only 85 cents to be spread over 3 quarters, or 28 cents a quarter. Major slowdown beginning in 2q 03? I sincerely hope that Qualcomm is being conservative with both their 1st quarter and full year earnings. There is no reason in this environment (or really any environment) for them to be aggressive. The slowdown in the 2nd quarter is a seasonal effect combined with what looks like a one-time effect due to the ramp of 1x in China and CDMA in India. The range for the year is above the $1.10 estimate given by First Call. Also....eventually, Nokia is going to start taking back the marketshare they have lost over the last year. They arent going to be below 5% forever. The key is that these are pretty good earnings without any contribution from W-CDMA. Qualcomm has always needed W-CDMA (or more unlikely, a 1x overlay of GSM systems) to really see the big earnings growth. Slacker

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