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


To: sag who wrote (82683)1/20/2009 5:55:52 PM
From: mindykoeppel2 Recommendations  Respond to of 196961
 
UPDATE 1-Qualcomm CEO says business still strong-CNBC
Tue Jan 20, 2009 5:27pm EST Email | Print | Share| Reprints | Single Page[-] Text [+]
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NEW YORK, Jan 20 (Reuters) - Wireless chip and technology supplier Qualcomm Inc's (QCOM.O) Chief Executive Paul Jacobs said in a television interview with CNBC that "business continues to be strong" in the cell phone industry.

While Qualcomm had said in November that its customers were looking to reduce inventory on concerns about consumer demand, Jacobs said on Monday that Qualcomm's cashflow "continues to be strong" and that people were still buying high-end cellphones known as smartphones despite the weak global economy.

The executive also said he expects 25 percent growth in handset shipments this year compared with last year.

Qualcomm shares were up 61 cents at $34.75 in after-hours trading after closing down 5.2 percent, or $1.88, in regular trade on Nasdaq before Jacobs spoke. (Reporting by Sinead Carew; editing by Carol Bishopric)

© Thomson Reuters 2009 All rights reserved


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To: sag who wrote (82683)1/20/2009 5:56:37 PM
From: mindykoeppel  Read Replies (1) | Respond to of 196961
 
UPDATE 1-Qualcomm CEO says business still strong-CNBC
Tue Jan 20, 2009 5:27pm EST Email | Print | Share| Reprints | Single Page[-] Text [+]

reuters.com
Market News
Banks and profit worry sink stocks on Inauguration Day | Video
IBM rises further after results
Oil jumps 6 percent ahead of contract expiry
More Business & Investing News... Featured Broker sponsored link
NEW YORK, Jan 20 (Reuters) - Wireless chip and technology supplier Qualcomm Inc's (QCOM.O) Chief Executive Paul Jacobs said in a television interview with CNBC that "business continues to be strong" in the cell phone industry.

While Qualcomm had said in November that its customers were looking to reduce inventory on concerns about consumer demand, Jacobs said on Monday that Qualcomm's cashflow "continues to be strong" and that people were still buying high-end cellphones known as smartphones despite the weak global economy.

The executive also said he expects 25 percent growth in handset shipments this year compared with last year.

Qualcomm shares were up 61 cents at $34.75 in after-hours trading after closing down 5.2 percent, or $1.88, in regular trade on Nasdaq before Jacobs spoke. (Reporting by Sinead Carew; editing by Carol Bishopric)

© Thomson Reuters 2009 All rights reserved




To: sag who wrote (82683)1/20/2009 6:22:51 PM
From: Jim Mullens1 Recommendation  Respond to of 196961
 
SAG, re: "Paul Jacobs had good things to say about Qualcomm's business"

The 3 minute CNBC video is now up>>>>

cnbc.com

Re: newswire quoting 25% handset growth- Paul was specifically refering to QCOM's handset growth targets-- 3G -- transition of 2G to 3G. IOWs- CDMA2x + 3GSM (WCDMA/UMTS)

I should add that perhaps Maria B, and others, might question the 25% handset growth metric when the concensus is drastically different--- showing negative growth.

Hopefully the 25% growth metric will cause some heads to turn--- and ask how could this be possible?

- Hopefully- the financial media will finally take notice, spend some time to delve into the unique QCOM story.