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

QCOM 177.78

-2.2%

Jan 9 9:30 AM EST

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To: Ramsey Su who started this subject	11/14/2002 2:32:31 PM
From: anandnvi	Read Replies (2) of 197155

This should cool the bulls down -- Qualcomm (QCOM) 36.98 +1.85: While nothing really new came out of yesterday's analyst day in London, management provided thorough description of strategy and products; reiterated extreme confidence in ability to exceed Y03 EPS guidance of $1.15-1.20 (vs. Multex consensus of $1.18). Despite upbeat presentations, with shares trading at 30X Y03 estimates, analysts are concerned with company's valuation. Deutsche Bank thinks all good news are factored into stock and company must deliver or exceed promises for upside to be achieved. Soundview Technology remains cautious on name at current levels given lumpy earnings and sales projections over next several quarters. Although admitting stock is not inexpensive, Goldman Sachs thinks company should maintain premium to growth and outperform peers; to the extent Q402 handset sell-through comes in at or better than expected, believes stock could break out of recent low-high $30 trading range. Shares are well on the way to fulfilling Goldman's prophecy with their 5.3% surge in today's session. From briefing.com.

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