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   Technology StocksQualcomm Moderated Thread - please read rules before posting


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To: slacker711 who wrote (122682)11/5/2014 9:14:04 PM
From: engineer
2 Recommendations   of 170277
 
remember you have to factor that in with caps on the amount royalty is collected upon. So if the ASPs are actually above the cap, it does not affect their revenue at all. Once the ASPs ge below the cap, then it will scale with the ASP decline.

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From: N.Novick11/5/2014 9:31:33 PM
   of 170277
 
Conference call

Did anyone listen in?
Anyone have call in number for replay?

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To: N.Novick who wrote (122684)11/5/2014 9:51:38 PM
From: slacker711
   of 170277
 
Transcript now available.

seekingalpha.com

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To: engineer who wrote (122683)11/5/2014 10:05:42 PM
From: N.Novick
1 Recommendation   of 170277
 
ASPs

The point is made in the transcript that, as ASP declines, total sales dollars as base for royalties is projected to rise, due to unit volume growth.

Also, comment was made that larger drop in ASP is due to large scale of conversion of GSM and TD to LTE with resulting more low end LTE. They forecast rate of decline will slow in a few years as these conversions progress and more people then get upgrades.

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To: N.Novick who wrote (122684)11/5/2014 10:07:54 PM
From: Jon Koplik
   of 170277
 
Wed. Nov. 5th Qualcomm earnings release and conf. call ...........................

Qualcomm Fourth Quarter and Fiscal 2014 Earnings Release

* The fourth quarter and fiscal 2014 earnings release will be issued on Wednesday, November 5, 2014 at approximately 4:00 PM (New York time.)

Qualcomm Conference Call

* Wednesday, November 5, 2014 from 4:45 PM to 5:45 PM (New York time.)
* To participate in the call, dial (866) 566-8589. International callers dial (706) 634-8091
* Please dial in ten minutes prior to the start time and use reservation number 20823606
* Live webcast available at qualcomm.com

Rebroadcast of Conference Call

* To hear the rebroadcast U.S. callers may dial (855) 859-2056 and international callers may dial (404) 537-3406. The rebroadcast will be available from November 5, 2014 beginning at approximately 8:45 PM through December 5, 2014
* Please use reservation number 20823606
* A replay of the webcast will also be made available at qualcomm.com shortly after the conclusion of the conference call.

Source :

Qualcomm Incorporated

-------------------------

.
.

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From: slacker71111/6/2014 7:43:03 AM
1 Recommendation   of 170277
 
10K details on current investigations.

sec.gov


European Commission Investigation: On October 15, 2014, the Commission notified us that it is conducting an investigation of us relating to Article 101 and/or 102 of the Treaty on the Functioning of the European Union (TFEU) and Article 53 and/or 54 of the Agreement for the European Economic Area (EEA Agreement). We understand that the investigation concerns primarily the sale and/or marketing of our baseband chipsets, including alleged conditions relating to the provision by us of rebates and/or other financial incentives. If a violation is found, a broad range of remedies is potentially available to the Commission, including imposing a fine and/or injunctive relief prohibiting or restricting certain business practices. Given that this investigation is in its early stages, it is difficult to predict the outcome or what remedies, if any, may be imposed by the Commission. We continue to cooperate with the Commission as it conducts its investigation.


snip................


China National Development and Reform Commission (NDRC) Investigation: In November 2013, the NDRC notified us that it had commenced an investigation of us relating to the Chinese Anti-Monopoly Law (AML). We understand that the investigation concerns primarily our licensing business and certain interactions between our licensing business and our chipset business, including how royalties are calculated in our patent licenses, the value exchanged for cross-licenses to patents of our licensees, whether we will offer license agreements limited to patents essential to certain standards, whether royalties are sought for our expired patents, our policy of selling chipsets only to our patent licensees, the alleged refusal of us to grant patent licenses to chipset manufacturers, and certain other terms and conditions in our patent license and chipset sale agreements. A broad range of remedies with respect to business practices deemed to violate the AML is potentially available to the NDRC, including but not limited to issuing an order to cease conduct deemed illegal, confiscating gains deemed illegally obtained, imposing a fine in the range of 1% to 10% of the prior year’s revenues and requiring modifications to business practices. Given the limited precedent of enforcement actions and penalties under the AML, it is difficult to predict the outcome of this matter or what remedies may be imposed by the NDRC. We continue to cooperate with the NDRC as it conducts its investigation.


26




Federal Trade Commission (FTC) Investigation: On September 17, 2014, the FTC notified us that it is conducting an investigation of us relating to Section 5 of the Federal Trade Commission Act. We understand that the investigation concerns primarily our licensing business, including potential breach of FRAND commitments. If a violation of Section 5 is found, a broad range of remedies is potentially available to the FTC, including imposing a fine or requiring modifications to our licensing practices. Given that this investigation is in its early stages, it is difficult to predict the outcome of this matter or what remedies, if any, may be imposed by the FTC. We continue to cooperate with the FTC as it conducts its investigation.
We will continue to vigorously defend ourselves in the foregoing matters. However, litigation and investigations are inherently uncertain. Accordingly, we cannot predict the outcome of these matters. We have not recorded any accrual at September 28, 2014 for contingent losses associated with these matters based on its belief that, with the exception of the NDRC matter, losses, while possible, are not probable. Further, any possible range of loss cannot be reasonably estimated at this time. Regarding the NDRC matter, we believe that a loss is probable but that any possible range of loss cannot be reasonably estimated at this time. The unfavorable resolution of one or more of these matters could have a material adverse effect on our business, results of operations, financial condition or cash flows. We are engaged in numerous other legal actions not described above arising in the ordinary course of our business and, while there can be no assurance, we believe that the ultimate outcome of these other legal actions will not have a material adverse effect on our business, results of operations, financial condition or cash flows.

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To: SirWalterRalegh who wrote (122681)11/6/2014 9:24:42 AM
From: Art Bechhoefer
1 Recommendation   of 170277
 
SWR -- I worry not only about QCOM in China but in Europe and the US as well.

Art

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To: Art Bechhoefer who wrote (122689)11/6/2014 9:32:31 AM
From: Art Bechhoefer
1 Recommendation   of 170277
 
Whenever a company gets a market share above 40%, it comes under the scrutiny of antitrust regulators. The basis for this is the ability to set prices when a firm's market share exceeds 40%. The assumption is that if a firm can set prices based on its sheer domination of the market, the prices of the device or object will not be as low for consumers as would be the case with more competition.

Qualcomm modem chips or designs based on these chips are found in something like 84% of all 3G-4G smartphones. The domination of the radio chip market is more an issue than the processor chip market.

Art

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From: peterk11/6/2014 9:51:35 AM
   of 170277
 
COVERAGE REITERATED: Qualcomm (QCOM) reiterated by Canaccord Genuity. Reiterated rating Buy.

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To: slacker711 who wrote (122682)11/6/2014 10:08:13 AM
From: Jim Mullens
   of 170277
 
Slacker, re: QCOM 4QFY14..........................................

"...One number that jumps out at me is that they are projecting a 9-10% decline in global ASP in 2015 .."

I've got several numbers that "jump out"

I don’t understand guidance… what from China is included / what is not.

+ FY15 Revenue guided up 1% to 9%,

+ non-GAAP oper inc up 3 – 12%,

+ yet non-GAAP EPS down 4% to up 2%.

I’m totally confused??? need to update model now to make sense out of this poor and confusing report.



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