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

QCOM 178.02

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To: sag who wrote (82683)	1/20/2009 5:56:37 PM
From: mindykoeppel	Read Replies (1) of 196971

UPDATE 1-Qualcomm CEO says business still strong-CNBC Tue Jan 20, 2009 5:27pm EST Email \| Print \| Share\| Reprints \| Single Page[-] Text [+] reuters.com Market News Banks and profit worry sink stocks on Inauguration Day \| Video IBM rises further after results Oil jumps 6 percent ahead of contract expiry More Business & Investing News... Featured Broker sponsored link NEW YORK, Jan 20 (Reuters) - Wireless chip and technology supplier Qualcomm Inc's (QCOM.O) Chief Executive Paul Jacobs said in a television interview with CNBC that "business continues to be strong" in the cell phone industry. While Qualcomm had said in November that its customers were looking to reduce inventory on concerns about consumer demand, Jacobs said on Monday that Qualcomm's cashflow "continues to be strong" and that people were still buying high-end cellphones known as smartphones despite the weak global economy. The executive also said he expects 25 percent growth in handset shipments this year compared with last year. Qualcomm shares were up 61 cents at $34.75 in after-hours trading after closing down 5.2 percent, or $1.88, in regular trade on Nasdaq before Jacobs spoke. (Reporting by Sinead Carew; editing by Carol Bishopric) © Thomson Reuters 2009 All rights reserved

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