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Technology Stocks : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?

To: foundation who wrote (99812)	5/27/2001 4:34:47 PM
From: cfoe	Respond to of 152472

Comments re: DBAB earnings revisions. First on the numbers themselves... ...Modoff lowering his sights [for Qualcomm] from a 20-cent third quarter to 19 cents on $580.1 million in revenue. He lopped 4 cents off his 2001 marks for a 98-cent earnings-per-share estimate. The company's revised guidance was for Q3 EPS of 21 cents and $1.05 for full year. It seems that Modoff had them at 20 cents and $1.02. So he was below QCOM even before his latest revisions. Then on the basis of his revision... Analyst Brian Modoff reported his understanding that Sprint PCS (PCS:NYSE - news) and Verizon (VZ:NYSE - news) are canceling cell-phone orders, and opined that "things out there remain ugly and they are not getting any better." Later article says... Qualcomm took its medicine for perceived* CDMA weakness* When I read this I wondered if the cancellations Modoff is referring to might not be 1x related. Remember on the earnings CC, Sulpizio commented how many manufacturers were still ordering the older chips and "hadn't gotten it yet" that they will need 1X. So I wonder if the cancellations Modoff is talking about have to do with PCS and VZ now requiring 1X phones? If this were so, the question would still remain whether the switchover will cause QCOM to take a further hit to earnings in the near-term. Opinions anyone????