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Technology Stocks : Qualcomm Incorporated (QCOM)
QCOM 178.29-1.6%Dec 12 9:30 AM EST
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To: bdog who wrote (11411)6/11/1998 7:39:00 PM
From: Gregg Powers  Read Replies (2) of 152472
 
bdog:

Management reiterated today (for the Nth time) that the June quarter remains on track toward an outcome consistent with previous guidance. Everything I have heard throughout the quarter suggests that the QCP manufacturing problems are behind us, that the 800mhz 'Q' is ramping production, that the infrastructure operation is moving toward profitability, that Korea ASIC demand is "as expected" and that the Japanese market is beginning to slowly ramp up.

I don't see anything operationally going "bump" in the night for the June quarter. I also do not see any great incentive for management to squeeze more pennies into what the Street views as a "throwaway" quarter, particularly if these pennies came at the expense of Q4. So, its not that I am worried about June, its just that a "throwaway" quarter is a "throwaway" quarter. September should be fun. People do not seem to understand, or believe, the delta that an improved infrastructure result can, and will, have on QC's P&L. Couple this with volume shipments of the 800mhz 'Q' and continued strong demand for ASICs and the QCP family, and its not hard to get good numbers of September and even better numbers for December.

Best Regards,

Gregg
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