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

QCOM 175.32

+0.3%

3:59 PM EST

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To: slacker711 who wrote (82747)	1/23/2009 10:33:36 AM
From: Jim Mullens	5 Recommendations Read Replies (2) of 196856

Slacker, re: NOK Q4CY2008 earnings, and >>>>>>>>>>>>> “Overall Nokia submitted a pi$$ poor report -- lower than my modest expectations in almost every regard, and that does not bode well for this sector.* “* As many still fail to recognized, ---and as we have discussed here on many occasions over many years--, …+ QCOM’s business model is uniquely differentiated from the total mobile wireless equipment sector. …….+ QCOM operates in the sub-sectors that are growing (3G CDMA- 3GSM /WCDMA/ UMTS and smart phones) in spite of the world wide economic retrenchment. ………….+ QCOM uniquely benefits from the transition of 2G/ GSM subs (3+ billion & growing) to 3G. ………………..An existing market of ~ 3 billion subscribers “ripe for harvesting”. ………….+ Thus as Paul recently stated on CNBC- ………………..QCOM’s handset market reflects 25% YoY growth (vs ~ negative 10% for the sector) …….+ QCOM operates in the sub-sectors that have much higher ASPs. ……+ QCOM is also moving into new rapidly growing markets- …………+ notebook computers- Gobi chips …………+ converged (netbooks, etc) and standalone (PNDs, mobile TVs, etc) devices- Snapdragon / mobile TV chips On the other hand, traditional companies that support the total mobile wireless equipment sector, and still derive the majority of their business from GSM (Nokia) are in a world of hurt as roughly 66% of their market evaporates as the world transitions to 3G. …..+ They now have little room for unit growth ……….+ hoping that their huge losses in GSM can be somewhat off-set by gains in 3GSM/ WCDMA/ UMTS. ……………+ which may prove difficult especially for NOK with ~ 50% GSM share transitioning to 3GSM ………………..with much more competition from Asian companies (especially China, and soon India ).

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