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Technology Stocks : Qualcomm - Titanic of the wireless industry?
QCOM 158.53+1.4%Nov 29 9:30 AM EST

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From: veritas5012/22/2011 1:21:39 PM
of 116
 
I see the lemmings are bidding up QCOM -- again.

Curious as to the source of this new bullishness, I asked myself: could it be CDMA subscriber growth has a turned a corner? After all, for Qualcomm to have increasing earnings year after year after year, there have to be more and more CDMA subscribers added EVERY YEAR. Otherwise, even with the replacement market, QCOM earnings will struggle to meet expectations.

Here are the annual increases in CDMA subscribers since September 2000:

9/00 - 9/01: 32 million
9/01 - 9/02: 31.5
9/02 - 9/03: 39
9/03 - 9/04: 52.5
9/04 - 9/05: 59
9/05 - 9/06: 68
9/06 - 9/07: 67.5
9/07 - 9/08: 53.5
9/08 - 9/09: 36
9/09 - 9/10: 53.5

Wow! Could it be true that CDMA subscriber growth reached a maximum in the period 9/05 to 9/06??

Gee, usually when more networks are deployed, subscriber growth takes off. But not here.

Hmmmmmm.
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