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

QCOM 136.48

-8.3%

2:50 PM EST

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From: matherandlowell	1/24/2007 8:37:27 PM
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Share repurchases: $1 billion still left over from 2006! The budget for share repurchases was $1.5 billion for 2006. Approximately $1 billion is still in the bank because the company is aware of significant positive developments which have not yet been made public which might make share repurchase seem unfair to critics. Keitel made the point that the company continues to believe shares are undervalued but often does not feel that purchasing shares would be ethical because of the many positives undisclosed to the market. This would seem to me to be quite bullish news. First, having 2/3rds of the repurchase budget still undeployed suggests that more aggressive buying is in the cards, perhaps at higher prices to offset the corporate guilt of taking advantage of the current low price of the stock. Second, the undisclosed positive developments must be of considerable significance to keep Keitel from buying back shares. Altman also sounded positive about the current state of litigation with the Q having achieved its goals in each of the 3 legal settings in which the legal team has been tested. Let's hope for a 4th victory later this month. I think the lack of deployment of last year's share buy back budget is very positive for the next few months. j.

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