Qualcomm (QCOM)

In a preview of next week’s Lehman chip conference in New York, Luke wrote that he expects a “positive update” from COO Sanjay Jha when he presents at 12:15 Eastern on Wednesday. “We expect an overall update on global market trends in CDMA2000 and WCDMA, which we estimate appears to be reasonably healthy and likely in line (outside of Motorola),” he writes. “We expect Dr. Jha may highlight Qualcomm’s opportunities and traction with its new Gobi and Snapdragon chipsets, targeted for areas outside the traditional handset arena.”

Luke says he thinks the company is tracking “at least in line with robust June quarter guidance.” He maintains his Overweight rating and $52 price target.

Luke’s note today is just the latest of several bullish reports on the company that have been published in the last few days.

On Thursday, Cowen’s Matthew Hoffman repeated his Outperform rating on the stock, which he says remains his top wireless equipment pick. Hoffman wrote that his research found the company is making market share gains in WCDMA with customers Samsung and LG.
On Wednesday, Merrill Lynch’s Tal Liani reiterated his Buy rating, and raised his price target to $53 from $48. “We are strong believers that the plethora of smartphones launching [in the second half] will create strong demand for 3G functionality across all segments of the market,” he writes. He expects new handsets from Apple (AAPL), Research in Motion (RIMM), HTC, LG and Samsung in the second half, creating “an inflection point in 3G adoption.”
On Tuesday, First Global’s Bindu Benjamin raised his rating to Outperform from Moderate Outperform, asserting that the company’s “fundamental business drivers remain strong,” and that emerging markets offer good growth opportunities. He sees additional growth from design wins for the Gobi and Snapdragon products as well as deployments of its MediaFLO mobile television service.

http://blogs.barrons.com/techtrader...s-positive-update-wed/?mod=googlenews_barrons
 
CES '09
Qualcomm Could Shine At CES

01.07.09, 06:00 AM EST
The company is likely to announce new partners for its Gobi broadband technology.
Qualcomm rarely grabs the spotlight at the Consumer Electronics Show, the sprawling annual exhibition of high-tech gadgets. But this year could be different.

A growing side business in wireless broadband technology for notebook computers means San Diego-based Qualcomm (nasdaq: QCOM - news - people ) is likely to be part of a number of high-profile CES announcements in Las Vegas this week. The company is expected to announce more major partnerships for its Gobi broadband technology.

"2009 will be a big year," says Mike Concannon, vice president of strategic products for Qualcomm's CDMA technologies division. "In addition to getting more [manufacturers] signed on, we are going deeper into their [product] lines."

Qualcomm's broadband partners include Hewlett-Packard (nyse: HPQ - news - people ), which currently offers more than 10 PCs with Qualcomm silicon, and Panasonic. Other manufacturers are stepping up. Sony (nyse: SNE - news - people ) is bullish on embedding broadband in its PCs, says Michael Abary, senior vice president of product marketing in Sony's IT products division.

Qualcomm has tracked the embedded broadband market since late 2005, Concannon says. In 2007, it made an entrance with Gobi, a module that contains a Qualcomm chipset, global positioning system functionality and a modem that supports a wide range of third generation, or 3G, cellular networks.
....

In all, Qualcomm says five PC makers--Acer, Dell, HP, Lenovo and Panasonic--have pledged to use Gobi technology in their notebooks while eight carriers, including AT&T (nyse: T - news - people ), Verizon (nyse: VZ) Wireless, Vodafone (nyse: VOD - ), Orange and Telefonica (nyse: TEF -), have certified Gobi on their cellular networks. The global embedded wireless market has grown from a handful of PC models in 2005 to nearly 500 notebook models today, Concannon says.

Analysts say Qualcomm is making a savvy move. "It's in carriers' best interest to push these devices and PC makers are probably anxious to have it as a way to differentiate their products," says Deepak Sitaraman, a telecommunications equipment analyst at Credit Suisse (nyse: CS). "Over time, I think it will be fairly big."



Competition isn't overly fierce, either. While other companies, such as Ericsson (nasdaq: ERIC ) and Huawei, also make 3G modules, Qualcomm's has the advantage of leveraging intellectual property developed for its main business, handset chipsets. "We have made hundreds of millions of chipsets…this is very synergistic," Concannon says

http://www.forbes.com/technology/2009/01/07/ces-qualcomm-broadband-tech-wire-cx_ew_0107qualcomm.html
 
Qualcomm initiated with a Buy at Collins Stewart; tgt $45 (37.15 ) : Collins Stewart initiates QCOM with a Buy and price target of $45, as they believe near-term the co will have problems due to weak demand and ongoing inventory correction. Long term, however, they feel QCOM is in a position to displace Texas Instruments at Nokia, increase share at RIMM and target iPhone. Firm notes QCOM's technology and commanding position bodes well for its financial performance in 2010 and beyond.
 
04/28/09 - Jefferies & Co
NEW YORK, April 28 - Analysts at Jefferies & Co reiterate their "buy" rating on Qualcomm Inc (QCOM). The target price has been raised from $47 to $50.

http://www.newratings.com/en/main/c...&isin=US7475251036&id=1906685&option=headline

04/28/09 - Collins Stewart
NEW YORK, April 28 - Analysts at Collins Stewart reiterate their "buy" rating on Qualcomm (QCOM). The target price has been raised from $45 to $50.


http://www.newratings.com/en/main/c...&isin=US7475251036&id=1906716&option=headline
 
Quote from the4xczar:

Anyone else have a QCOM horror story from 2000?
More...

For me, QCOM was more entertaining to watch than the super bowl or world series back in those days. I recall in late 1999, it had gap open mornings for like 5 trading days straight. Every day it would pop $30 or $40.

But without question the greatest fade I have ever witnessed was on the first trading day of 2000 and all that Y2K scam hype. Some clown comes out with a $1000 price target. At this point, QCOM had already concluded its 4-1 split. At the open, it busted through $200 but by 10AM had completely tanked.

I knew a guy who had been selling naked puts against QCOM for 4 months straight and making a ridiculous amount of money doing it. Unfortunately though it caught up with him that January 2000 expiration and he gave it all back and allot more.

In retrospect, QCOM was one of those things that had you had any kind of premonition or awareness, it was available to buy in the $15 - $25 range for a really long time. The pre-split run to $700+ happened only in a matter of a few months or less.
 
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