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

QCOM 175.18

+0.5%

1:24 PM EST

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To: slacker711 who wrote (50834)	3/7/2006 4:44:59 PM
From: slacker711	Read Replies (2) of 197016

Qualcomm Outlook Lifted By Strong CDMA Demand forbes.com Maya Roney, 03.07.06, 4:24 PM ET Piper Jaffray research analyst T. Michael Walkley maintained an "outperform" rating on Qualcomm and raised the price target to $55 from $53 on increased fiscal second-quarter guidance and CDMA subscriber growth trends. "With more than 1.7 billion GSM subscribers potentially on a migration path to CDMA-based technologies over the next decade, we believe Qualcomm should post strong long-term earnings growth relative to our coverage universe," wrote the analyst in a research note Tuesday. Qualcomm (nasdaq: QCOM - news - people ) raised its second-quarter mobile station modem (MSM) shipment guidance to a range of 47 million to 48 million, from a previous range of 44 million to 46 million, due to strength in 1xEV-DO chipsets for North America and continued strong demand for low-end CDMA chips in India. Walkley's checks indicate a continued stronger mix of 1xEV-DO phones selling during the second quarter, solid WCDMA subscriber trends in Japan and continued strong CDMA subscriber data in India. The analyst consequently raised his fiscal 2006 estimates for Qualcomm to pro-forma earnings of $1.55 per share on revenue of $7.1 billion, from $1.48 on $7 billion. He raised fiscal 2007 estimates to earnings of $1.84 per share on revenue of $8.5 billion, from $1.77 on $8.2 billion.

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