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Technology Stocks : Qualcomm Moderated Thread - please read rules before posting
QCOM 172.29-2.2%3:59 PM EST
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To: Jim Mullens who wrote (41288)6/25/2004 11:05:10 AM
From: slacker711  Read Replies (3) of 196980
 
1. The report refers to weakness in wireless semi components, particularly CDMA, from companies including TSMC. It’s my understanding that TSMC is a major foundry for the Q’s chipsets and that MSM chipsets are a wireless component.

TSMC is a foundry....I would assume that they do not fall under the term SAT which is where they attribute the comments about CDMA weakness.

There are all kinds of explanations. Perhaps Qualcomm has moved some of their business to a Chinese company....perhaps the product transition to the MSM6100/MSM6500 has created a momentary blip in sales....or perhaps end market demand has slowed a little bit. Qualcomm would only be obligated to tell us if it was going to be materially below their previous guidance. Since Qualcomm has generally been pretty conservative, business could slow and still be above their guidance.

Which explanation is correct? I wish I knew for sure....this is just one data point among many.

However, personally I dont count on Qualcomm to provide an update. There have been numerous times in the past where watching end markets/suppliers would provide us some lead time over what Qualcomm has told us (both positively and negatively). There isnt anything particularly nefarious about this, just the way the stock market seems to work.

Of course, you are welcome to believe otherwise....which I guess would cause you to think any negative report not confirmed by Qualcomm would be "misleading".

Slacker
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