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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 691.72

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Jan 16 4:00 PM EST

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To: Johnny Canuck who wrote (40736)	2/23/2004 10:13:56 AM
From: Johnny Canuck	Read Replies (1) of 69833

Qualcomm sees Q2 earnings above forecast (QCOM) by Michael Baron NEW YORK (CBS.MW) -- Qualcomm (QCOM) now sees earnings of 47 to 49 cents per share for the second quarter. This outlook includes a loss of a penny per share related to its Strategic Initiatives segment. The mean estimate of 36 analysts polled by Thomson First Call is for a profit of 40 cents per share in the March period. The San Diego-based wireless communications technology firm sees year-over-year revenue growth of 13 to 15 percent for the quarter from its year-ago total of $1.02 billion. The company's previously disclosed outlook was for earnings of 34 to 37 cents per share in the period, including a loss of 4 cents per share related to strategic initiatives, and total revenue growth of 1 to 8 percent. "Record demand for our chipsets and strong growth in virtually all CDMA markets are driving solid financial results for Qualcomm in fiscal 2004," said Dr. Irwin Mark Jacobs, the company's chairman and CEO, in a press release. "To put this growth into perspective, in fiscal year 2002 we shipped 65 million MSM phone chips. Comparatively, in the first two fiscal quarters of 2004 we expect to ship approximately 63-64 million MSM chips." The stock closed Friday at $59.40, up 1 percent.

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