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

QCOM 159.42

-1.2%

Jan 16 3:59 PM EST

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To: David E. Taylor who wrote (81107)	10/16/2008 10:41:00 AM
From: JGoren	1 Recommendation Read Replies (1) of 197280

Unfortunately, Broadcom this morning is sitting there trying to figure out how they can get a big chunk of that $2.3bn via litigation, or fretting that is a heck of a litigation kitty to fight them to the death. More seriously, does anyone detect a lowering in the rhetoric of the press releases? Boredcom has not issued a press release claiming it won part of the appeal. Maybe this signals that the companies are talking seriously? Citi report today on Nokia: Sales to be Down but EPS meet street est. Sales of €12.2bn (-5% y/y, -7% q/q)came in 4% below consensus/6% below CIR driven by lower handset units and NSN revenues. However, clean EPS of €0.33 was in line with street expectations (but below our €0.34 estimate) due to resilient device op. margin. Handset Metrics — Revenues of €8.6bn (-7% y/y) compared to street at €8.8bn, driven by lower units (117.8mn Vs consensus 119.4mn) and ASP (€72 Vs €73). However, gross margin increased 40bps q/q to 36.5% despite continued smartphone share losses. Combined with tight opex control, this drove a 30bps op. margin beat Vs consensus. Global share of 38% (-230bps q/q) driven by losses in Latam and APAC.

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