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Technology Stocks : Qualcomm Moderated Thread - please read rules before posting
QCOM 170.58-0.2%12:01 PM EST
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To: quartersawyer who wrote (71250)11/15/2007 9:38:27 PM
From: thinkclear  Read Replies (3) of 196571
 
G.S. analysis

Chapq,

VALUATION: Our 12-month price target of $58 is based on 24X CY2009 EPS
(ex-ESOs) of $2.39, supported by QCOM’s high profitability and strong cash
generation.


In general I believe GS's analysis as much or more than most of the others. However, I don't understand their $2.39 for qcom for 2009. With nok's royalties paid, qcom would have been expected to do $2.25 - $2.30 in fy2008. To me this means that GS has not included nok royalties in their 2009 estimate and hence GS does not expect settlement or payment before the end of 2009.

-tc
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