Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 179.02

+3.7%

3:59 PM EST

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To: Bux who wrote (26112)	4/5/1999 1:06:00 PM
From: straight life	Read Replies (4) of 152472

NEW YORK, April 5 (Reuters) - FAC Equities said Monday analyst Raj Srikanth raised his rating on Qualcomm Inc. (Nasdaq:QCOM - news) to accumulate from neutral. -- said set a target price of $170. -- said he raised his second quarter earnings estimate to $0.60 a share from $0.54 a share and raised the revenue estimate to $911 million from $874 million. -- said raised the fiscal 1999 earnings estimate to $2.68 a share from $2.47 a share and reaised the revenue estimate to $3.858 billion from $3.769 billion. -- said raised the fiscal 2000 earnings estimate to $4.44 a share from $3.30 as share. -- said applauds company's recent decision to sell its infrastructure business to Telefon AB L.M. Ericsson and settle the patent disputes. Said financial details of the details should be available when Qualcomm reports its second quarter results on April 21. -- said infrastructure business had been a continuous drag on the company's earnings and balance sheet. Said with this deal, company's cash flow and balance sheet should improve significantly. -- said believes company has strongly positioned itself as a significant player in the global wireless industry. -- said Qualcomm should see a continuous stream of rapidly-growing royalty revenues. -- said would not be surprised to see Qualcomm divest its handset business. -- shares of Qualcomm gained 5-1/2 to 142-1/2 on Nasdaq. --------------------------------------------------------------------------------

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