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Technology Stocks : Qualcomm Moderated Thread - please read rules before posting -- Ignore unavailable to you. Want to Upgrade?

To: TCGNJ who wrote (72981)	1/2/2008 3:28:25 PM
From: JGoren	Read Replies (1) \| Respond to of 196989

Thomas Weisel. Overweight BRCM patents are noncore to WCDMA standards and QCOM will able to implement work-arounds by 2008—looks like this happened earlier rather than later. Anticipate QCOM will be able to announce work-arounds for its 3G CDMA products impacted by the ban as well. This development will now put pressure back on BRCM to settle the dispute. The clock is now ticking against BRCM. a major positive development for QCOM in its various patent disputes with BRCM. Valuation: sum-of-the-parts value $50-55; 12-month price target $50 is conservatively set at the lower end of this range and implies a 20x multiple (comparable to EPS growth) to FY08E EPS of $2.11 plus $7 net cash per sh