Technology Stocks | Qualcomm Incorporated (QCOM)


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To: slacker711 who wrote (152243)10/1/2008 11:55:40 AM
From: JGoren   of 152328
 
I think you got it right. The hedge fund managers (I guess they get a percentage) are taxed at cap gains rates rather than ordinary income on the fees they earn. I think at one point Obama was going to change that, but the Dem supporters on the Street got to him and it was retracted.

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To: JGoren who wrote (152244)10/1/2008 11:59:30 AM
From: kech   of 152328
 
Don't confuse Private Equity buyout firms with Hedge Funds. I think the argumenent for the buyout firms is that they are buying companies and holding them for long term. That is what I think the argument was about. I don't see any reason why Hedge Funds would be treated any differently than Mutual Funds.

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To: JGoren who wrote (152244)10/1/2008 12:28:16 PM
From: JGoren   of 152328
 
AmTech report latest

Managing for up Q/Q chips in December.
Channel checks suggest Qcom will meet mid/upper-end of QCOM's 84-87mm guidance for September chips, but qcom probably will manage some of the upside into December Q. Expects September Q in the 84-85mm range; December units in-the upper 80s.

NOK may not hit until December Q

NOK's upfront payment will be over $1bb, inclusive of "catch up" and some "pre-paid" royalties ($0.07-$0.13 one-time EPS gain)--assumed Sept quarter. Uncertainty whether NOk will actually make payment September or December quarter.

$2.58 for FY09

Quick math says 9% growth on QCOM's $2.13 FY08 EPS with an added $0.26 for NOK royalty payments gets a $2.58 est for FY09. AT arrives at its $0.26 number (company guidance $0.20-$.28 FY09 addition) by assuming 539mm industry units and 38% share for NOK at a 1.5% royalty rate. AT confident of 1.5% rate but if it's 2% approx. 10 cents would be added.

Conclusion:

Likes current valuation at 16x "scrubbed" CY09 consensus estimate of $2.65, which AT believes may settle closer to AT's $2.58 by QCOM 11-5 report date.

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From: Jeff Vayda10/6/2008 11:19:30 AM
   of 152328
 
Back in the heady pre-bubble days, many times the low of the day would hit at the end of "amateur hour" - 1030 eastern. Could we have the resumption of that trend and the merging with Jon's favorite .00 price conspiracy?

That is about the only thing that can explain today's price and volume movement.

If I only had some dry powder....

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From: FWS10/6/2008 11:51:09 AM
5 Recommendations   of 152328
 
This is just a simple anecdotal observation and something that gives me some hope that Q can get close to it's numbers.

I work in customer service middle management. When I go to meetings, the majority of managers already have Blackberry's or Treos or something akin to that. The corporate world is heavily blackberry and pretty saturated, at least in the United states. Everyone that has or needs one, already has one.

But I have seen a few hourly workers switch out from their old phones to voyagers, or instincts, or iphones. Despite being on tight budgets, at $179 to $200 for a smartphone, they know what it's about. Watch a little Gossip girl or The hills and clamshells are going away. Smartphones can do so much and people are just realizing this. They are just realizing and getting curious about what these new phones can do.

As Paul Jacobs said, the Iphone is the best thing that came along in the smartphone market. It opened up everybody's eyes.

There are people I have observed and I used to always chide them, "hey, you need to upgrade that silly clamshell." And they would say, a phone is a phone, as long as I can dial. Well, Now I see them walking in with Samsung instincts and so forth.

Whenever a contract ends or a carrier offers a rebate, $179 or $200 for a smartphone goes a long way toward getting that little puppy into consumers hands. I think that's what carriers want. They realize that once you get an instinct or voyager or iphone in someone's hands, instead of just a telephone it becomes a plaything, a smorgasborg of choice and a buffet of possible data charges. That's what the carriers want.

T'Mobile Sucks, it's the 4th largest carrier with terrible 3G coverage and yet the Android Gphone is already "sold out."

It's going to get interesting I hope.

If only we can hold on without getting washed away..

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From: John Hayman10/8/2008 8:21:20 AM
   of 152328
 



Press Release Source: Broadcom Corporation; BRCM Corporate


Broadcom Files Suit Asserting Qualcomm's Licensing Practices Violate U.S. Law
Wednesday October 8, 8:00 am ET


IRVINE, Calif., Oct. 8 /PRNewswire-FirstCall/ -- Broadcom Corporation (Nasdaq: BRCM - News), a global leader in semiconductors for wired and wireless communications, today announced that it has filed a complaint seeking a declaratory judgment that the sales and licensing practices of Qualcomm Incorporated (Nasdaq: QCOM - News) amount to patent misuse, that Qualcomm patents are "exhausted" by Qualcomm's practices, and that Qualcomm's patents and patent licenses are unenforceable, under applicable U.S. law.



The complaint, filed yesterday in the United States District Court for the Southern District of California in San Diego, asserts, among other things, that Qualcomm's use of "exhausted" patents to control post-sale use of products in the wireless communications industry results in a double recovery of royalties (or other consideration) to Qualcomm for the use of its patents. It further asserts that these practices constitute patent misuse that has brought Qualcomm a financial windfall and brought harm to the industry and consumers.

The U.S. Supreme Court recently ruled on the scope of the patent exhaustion doctrine in Quanta Computer, Inc. v. LG Electronics, Inc.

biz.yahoo.com 

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From: John Hayman10/8/2008 8:54:04 AM
   of 152328
 
Analysts cut 2009 cell phone growth estimates (Reuters)
Posted on Tue Oct 7, 2008 6:58PM EDT

Fort Worth Star-Telegram Tuesday 07th October, 10:06:50 PM

NEW YORK (Reuters) - The global cell phone market should grow at much slower-than-expected rates next year as consumers put off buying new devices due to deepening economic concerns, according to forecasts from analysts.

While industry executives often say cell phones are the last thing consumers will give up to save money, analysts are now citing lengthening phone replacement cycles and weakening economies around the world for their weaker sales estimates.

UBS analyst Maynard Um halved his forecast for 2009 global handset growth to 3 percent from 6 percent, pointing to particular weakness in Europe and North America.

"We continue to believe in a tight relationship between world real GDP and device volume growth," Um wrote in a research note.

He cited UBS cutting its forecast for 2009 global gross domestic product growth to 2.2 percent from 2.8 percent for his own reduced handset estimate.

JPMorgan analyst Ehud Gelblum was more optimistic, but still cut his expectations for 2009 handset growth to 6.1 percent from 8.1 percent, citing consumer reluctance to upgrade phones, particularly in Europe, and "more modest" growth in China, one of the fastest-expanding mobile markets.

Handset market leader Nokia (NOK1V.HE) warned early last month that the cell phone market would be hurt by weakening consumer confidence in many markets in 2008 and the company itself would lose market share in the third quarter.

Um said fourth-quarter results from handset makers would likely show Nokia, which commands a roughly 40 percent share of the global market, is not the only one suffering.

"As we enter Q4, we believe it will become clearer that many handset vendors are struggling rather than problems being specific to Nokia," he and other UBS analysts wrote.

They pointed to Samsung Electronics Co Ltd (005930.KS), which trails only Nokia, and Motorola Inc (MOT.N), the No. 3 mobile phone maker, which has been struggling to regain its footing since the start of 2007.

"While Motorola and Samsung may gain some volume share in Q3, we believe the latter in particular will show poor ASP (average selling prices) and margin trends," the UBS report said.

(Editing by Andre Grenon)


tech.yahoo.com 

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From: John Hayman10/8/2008 9:40:38 AM
   of 152328
 
Qualcomm Incorporated (NASDAQ: QCOM) Fourth Quarter and Fiscal 2008 Earnings Release and Conference Call
Wednesday October 8, 9:30 am ET


SAN DIEGO, Oct. 8 /PRNewswire-FirstCall/ --

Qualcomm Fourth Quarter and Fiscal 2008 Earnings Release
-- The fourth quarter and fiscal 2008 earnings release will be issued on
Wednesday, November 5, 2008 at approximately 1:00 p.m. Pacific
Standard Time (PST).

-- After the release has been issued, Qualcomm Investor Relations
representatives will not be available to return phone calls until the
conclusion of the conference call at approximately 3:00 p.m. PST


Qualcomm Conference Call
-- Wednesday, November 5, 2008 from 1:45 p.m. to 2:45 p.m. PST.

-- Live web cast available on qualcomm.com. 

-- Questions during the live call will be taken from investment
professionals only.


Rebroadcast of Conference Call
-- Rebroadcast will be available on Qualcomm's web site at
qualcomm.com  from November 5, 2008 beginning at
approximately 5:30 p.m. PST through December 5, 2008 at 9:00 p.m. PST.

-- To hear the rebroadcast U.S. callers may dial (800) 642-1687 and
international callers may dial (706) 645-9291.

-- Please use reservation number 67351049.


Financial and statistical information to be discussed in the conference call will be posted on Qualcomm's Investor Relations web site at qualcomm.com  immediately prior to the commencement of the conference call.

The conference call will include a discussion of non-GAAP (Generally Accepted Accounting Principles) financial measures. Information reconciling these non-GAAP financial measures to Qualcomm's financial results prepared in accordance with GAAP will be posted on Qualcomm's Investor Relations web site at qualcomm.com  immediately prior to the commencement of the conference call.

Historical news releases and financial documents are available on the Company's web site at qualcomm.com 


Qualcomm Contact:
John Gilbert
Vice President of Investor and Industry Analyst Relations
1-(858) 658-4813 (ph)
e-mail: ir@qualcomm.com

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To: Art Bechhoefer who wrote (152241)10/20/2008 1:23:44 AM
From: Skeeter Bug1 Recommendation   of 152328
 
Art, i assure you that the financial concerns today are very real and could have devastating consequences on the world.

we may well get out of this trap, but if we don't, qcom is *way* over priced right now.

call it gambling on the govt to fix a $60 trillion in unfunded insurance (excuse me, credit default "swaps") that may well come due.

that's $171k for every man, woman and child in the united states and more than the combined GDP of all nations on the earth.

if those financial businesses go down, people will worry about bread and canned food and 401ks approaching $0 (especially boomers that didn't follow prudent asset allocation), not cell phones.

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From: John Hayman10/28/2008 3:46:15 PM
1 Recommendation   of 152328
 
Cellphone Inventor Knocks iPhone, G1
Andy Greenberg, 10.28.08, 2:55 PM ET

Martin Cooper


On April 3, 1973, Martin Cooper, a researcher at Motorola, made the world's first-ever call from a cellular telephone, a device he helped to create that weighed two pounds and had a mere 20-minute battery life. In the 35 years since, a lot has changed--but not nearly enough to please the cellphone's demanding father.

On Tuesday, Cooper used his keynote address at the Embedded Systems Conference in Boston to run down a list of complaints against the wireless industry that ranged from closed carrier networks to inefficient cellular antenna systems to the design of smart phones like the iPhone, which he argues are overly complex.

As a result, Cooper asserted that the progress of the mobile industry has been blocked by "upside down" and "backward" practices. "We were promised affordable, ubiquitous broadband wireless for everyone," he told a crowd of engineers. "That promise is still just a promise."

According to Cooper, the barriers to making cellphones as versatile and efficient as wired devices are wrongheaded industry practices, like putting cell towers outside when the vast majority of conversations happen indoors. That setup, he argued, means that radio signals have to travel far greater distances and penetrate buildings. This drives up the energy costs of cellular service and leads to more dropped calls.

Instead, Cooper argued that mobile networks should be using access point base stations, or femtocells: broadband-connected local cell stations that beam cell signals over focused areas inside of buildings. "Where the cell sites ought to be is where the people are," he said.

The problem with femtocells until now, Cooper noted, has been interference between local base stations and faraway cellular towers when the two sources broadcast to a phone simultaneously. The fix, he argued, is to better understand the location of a cellphone user--a solution that will also reduce inefficiency of cell towers that broadcast radio signals and "listen" to cellphone radios in all directions rather than dialing in their "attention" on the user.

Cooper touted a developing technology known as multiantennae signal processing, or so-called "smart antennas." Using an array of collected antennae rather than a single point, a cell tower could calculate a user's position and focus its signal in that direction. This is similar to humans having two ears rather than just one to better determine the source of sound.

It's no coincidence that Cooper sees smart antennas as the savior of the wireless industry: He serves as chairman of ArrayComm, a company that develops software for using antenna arrays to calculate the origin of cell signals. He founded the San Jose, Calif.-based company in 1992 after 29 years at Motorola (nyse: MOT - news - people ).

But Cooper's rant about the wireless industry's flaws went beyond areas where he had a business interest. He spread the blame to carriers that have tightly controlled the devices that can work on their networks and to software companies that have prevented developers from building applications. He compared the carriers' current attitude to AT&T's (nyse: T - news - people ) control of the landline system in the 1950s, when the company rented phones to users and prohibited any device other than an AT&T-owned telephone to connect to its network.

"They still think, 'It's our right to provide all these services and no one else has that right,'" Cooper said. "'How dare they think they can use our network?'"

Cooper's talk wasn't all grumbling, however. He noted that carriers and software developers are slowly becoming more open, pointing to Verizon (nyse: VZ - news - people ), which announced that it would open its network to outside devices and applications nearly a year ago. (See: "Verizon's Open Network Strategy.")

He also praised Google's (nasdaq: GOOG - news - people ) Android operating system as an example of the sort of open operating system that would allow for the full potential of wireless devices.

But the cellphone patriarch had less kind words for the smart phones that Android runs on and even fewer for the iPhone. Cooper advocates simpler, specialized devices--his wife is the creator of the Jitterbug, a hyper-simple phone for the elderly.

In an interview with Forbes.com following his talk, Cooper said that he had used an iPhone for a few weeks before handing it off to his grandson, saying that he couldn't navigate its contacts and that its shape and cell service made it a sub-standard phone. "A phone that's an Internet appliance, an MP3 player, a camera and a whole bunch of other functions doesn't make a lot of sense," he said. "You try to build a universal device that does all things for all people, and guess what? It doesn't do anything very well."
forbes.com 

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