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

QCOM 174.81

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Dec 26 9:30 AM EST

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To: slacker711 who wrote (62727)	4/17/2007 10:55:11 AM
From: Eric L	Read Replies (3) of 197036

The Hype Factor << The legal problems obviously had an effect, but I would also take a look at WCDMA handset unit expectations in the 1st half of '06. There were legitimate expectations that the market would be near 120 million units. The sales rate slowed substantially and that had quite a bit to do with Q's slowed earnings/stock price growth. >> There was also an exceptional amount of hype about HSDPA generated in H1'2006, a market in which QUALCOMM committed to silicon earlier than most, but the reality was that there was no real market for HSDPA mobile devices in 2006 -- 1.7 million units shipped in 2006, according to Thelander's Signals Research Group, and he's forecasting 19.6 million units this year out of a total handset market that will approach 1.2 billion units shipped, and a market of about 180 million UMTS handsets. We also have a forecast from QUALCOMM indicating virtually no growth in CDMA device sales this year. There is no question, but that the Brussels' complaint is a cloud that hangs over QCOM share price. It will hang until EC DG-Comp makes a decision to either abandon the investigation or issue a Statement of Objections to QUALCOMM. Separately the uncertainty about the how and when of the Nokia/QUALCOMM cross-license renewal will resolve weighs heavy. - Eric -

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