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   Technology StocksQualcomm Moderated Thread - please read rules before posting


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To: TroubleT who wrote (158588)6/17/2019 1:59:10 PM
From: Wildbiftek
   of 163744
 
I second this. I would imagine that management would have disclosed the material terms of the deal, notably any transfers of IP or trade secrets. Their press release only specified chip supply and a licensing agreement. He is an Apple analyst rather than a Qualcomm analyst though.

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To: Wildbiftek who wrote (158589)6/17/2019 2:08:32 PM
From: TroubleT
   of 163744
 
At the time of settlement, let's keep in mind that Qualcomm had the upper hand. To surrender the 5G modem IP to apple when Intel couldn't deliver ? I mean how can an Apple analyst be so self-absorb to actually publish counter-intuitive rubbish like that ? It pisses me off how rampant fake-news is nowadays.

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To: TroubleT who wrote (158590)6/17/2019 3:01:11 PM
From: Jamie153
   of 163744
 
Isn't AAPL a better buy than it was yesterday? The opposite can be said about QCOM. I'd rather own the former than the latter.

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To: Wildbiftek who wrote (158589)6/17/2019 3:12:23 PM
From: Jamie153
   of 163744
 
There were plenty of warning signs.

" According to Reuters, he may have actually lost his leadership role in January when Apple moved its modem efforts in-house, months before the surprise Apple-Qualcomm settlementthat saw Intel lose its chance at a spot inside the first 5G iPhone. And in February, Apple reportedly poached a 5G leader from Intel as well."

theverge.com

A lot of links to follow to get there and more in the article but the writing was clearly on the wall. I didn't see it. It was apparent though that other companies are making their own chips. I thought they had a multi-year agreement. What happens to that agreement when Apple makes its own chips?

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From: frmrVZguy6/17/2019 4:02:12 PM
1 Recommendation   of 163744
 
Goose Feathers and UFO's: What Hok Tan actually said vs Reports. I had a lakeside home in a nice part of Redmond, WA a number of years ago. I shared the shoreline with the local geese and ducks and it was a constant mess of awful green poo - it was really unusable for humans without hosing down ahead of time.

Here's my point: if you've got a Black Swan you'll have a mess of evidence.
Hok Tan told us about UFOs - not a Black Swan.
Now don't misunderstand me - the invasion may be arriving any day now. But Hok was reporting on FEAR affecting the Supply Chain. Cuts or reductions to FUTURE ORDERS - NOT CANCELLATIONS of shipments.

One OEM is blacklisted. A very big one.

Tax rates are hitting a specific geo-zone with reactions to orders there AND NOT TO OTHER GEO-ZONES. Fab is going to other zones.

The Market has choices and this is opportunity for the competition to react with sales wins of their own.

I linked to his exact words below and am extracting these for quick review and the whole expression with context further below:
  • "uncertainty and reducing visibility"
  • "customers are actively reducing inventory levels to manage risk"
  • "we're taking a very conservative stance"
  • "very frankly even as we see the ramp-up and we do see the ramp-up"
  • "demand environment that is extremely uncertain"
  • "environment is very, very nervous"
  • "seeing a very reactive mod"
  • "the next less than six months"


Because I've been Program leadership I understand EXACTLY how uncertainty affects the entire flow of labor, materials and capital.

My point with this post as with other events I've remarked upon in the past like Sprint's hiring of Michael Combs and his first Quarterly report turning upward.....

You need more hard data.

How's thst Sprint growth looking today? One quarter isn't a turn around or down.

Be cautious. But remember that the very next report could also be a report from suppliers to Vietnam and India and DRC and Korea making double-digit increases as their customers win new orders in the Market to fill a void left by PRC brand isolation.

Uncertainty ALSO creates opportunity.

GLTA
IMO

CC SELECTED REMARKS

fool.com

Now let me address the current business environment and our outlook for the remainder of the year. We have, as I indicated, performed very much to plan in the first half of fiscal '19. And in the second half, we had expected a recovery. However, while enterprise and mainframe software demand remained stable, particularly in North America and Europe, with respect to semiconductors, it is clear that the US-China trade conflict including the Huawei export ban is creating economic and political uncertainty and reducing visibility for global OEM customers. As a result, demand volatility has increased and our customers are actively reducing inventory levels to manage risk. This leads us to believe the second half of 2019 will be more in line with the first half as opposed to the previously expected recovery
...
John Pitzer -- Credit Suisse -- Analyst
Yeah, good afternoon guys. Hock, I just want to go back to Ross' question about the wireless guide for the balance of the year. I'm just curious, relative to 90 days ago when you guys were kind of guiding the overall semi business well above normal seasonality for the balance of the year and now you're talking about a flat half to half. To what extent did your content expectations come down to the back half of the year versus just this really being a unit issue on the wireless side of the business?
Hock E. Tan -- President and Chief Executive Officer
Well, that's an interesting question that lays out that way. It's -- keep in mind, we're taking a very conservative stance here and very frankly even as we see the ramp-up and we do see the ramp-up, we have also been forecasting a fairly dramatic set of numbers before. And when you -- and that is more than offset by the fact that for the ramps of the broader market, we're just seeing a demand environment that is extremely uncertain.
...
Chris Stanley -- Citi -- Analyst
Hey. Thanks guys. Just looking at the overall environment, Hock, do you think your guidance incorporates the proposed next round of $300 billion in tariffs, i.e. if that thing does go through, do you still feel good about your guidance or do you think there could be more downside if it does go through?
Hock E. Tan -- President and Chief Executive Officer
I think at this point, we try to capture everything including that proposed next round into the picture. We are of the belief that things are -- environment is very, very nervous. And that's why we see a very, very sharp and rapid contraction of supply chain and orders out there from our customers, especially of global OEM customers. Even as we believe, as I mentioned, in North America and Europe, end demand hasn't reflected there. So we are seeing a very reactive mode here.
...
Chris Caso -- Raymond James -- Analyst
Yes, thank you. Hock, I just wanted to return to some of your questions -- some of your comments rather regarding inventory and you talked about the customers reducing inventory. Do you think that the inventory levels at the customers were elevated coming into the quarter? Or is this just a situation where the customers are reducing inventory proactively because of the uncertainty? I guess the question is, how much of the weakness you see here is driven by inventory reductions as opposed to demand?
Hock E. Tan -- President and Chief Executive Officer
I think what we're seeing a lot here because overall demand weakness or uncertainty probably started even before this quarter began. But the sharpness in terms of demand contraction -- demand reduction as you say, is coming from the fact that customers are even more aggressively now trying to reduce inventory out there. And a lot of it is customer inventory that we are talking about directly.
As you noticed in our -- on our balance sheet, our inventory has been very well managed, tightly managed and we continue to be very, very consistent through all this in the range of 60 days, 65 days of inventory. So it's -- this reduction is very much an action of our -- of the supply chain of the end user, which really reflects on our direct customers, where there's a been a sharp reduction of inventory out there. And are we talking significant? Yeah. We believe it is -- what we have seen is very significant and we anticipate that to continue, which reflects in our revised guidance for the rest of this year, which is the next less than six months out there. Beyond that, who knows.

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From: benhorseman6/17/2019 7:10:16 PM
   of 163744
 


Patent Issued for On-Demand Network Function Re-Authentication Based On Key Refresh (USPTO 10,313,878): QUALCOMM Incorporated

marketscreener.com

Reporter-Staff News Editor at Technology Business Daily -- QUALCOMM Incorporated (San Diego, California, United States) has been issued patent number 10,313,878, according to news reporting originating out of Alexandria, Virginia, by NewsRx editors.

The patent’s inventors are Lee, Soo Bum (San Diego, CA); Escott, Adrian Edward(Reading, GB); Chaponniere, Lenaig Genevieve (La Jolla, CA).

This patent was filed on April 12, 2017 and was published online on June 17, 2019.

From the background information supplied by the inventors, news correspondents obtained the following quote: “The following relates generally to wireless communication, and more specifically to on-demand network function re-authentication based on key refresh.




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From: Silcon Observer6/17/2019 8:05:49 PM
   of 163744
 
Do you want to know how cellular standards are made? Follow my journey starting with this article..

t.co

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To: Bill Wolf who wrote (158581)6/17/2019 8:28:57 PM
From: Silcon Observer
3 Recommendations   of 163744
 
Keeping politics aside, China hasn't seen such an opposition that would even cripple even some US companies. If you go back and see US govt. always put the interest of US companies front of center of US's global interest. For access to a market as large as China, US companies agreed to what Chinese govt. asked.

This is what made the US manufacturing totally disappear in about more an decade..

Trade can't be a fair playing ground of one side has unstinted govt. support.

The biggest reason for suspicion on Huawei is the lack of transparency in its ownership and control. No matter how much they say they are independent, people will not believe, short of they listing on a US stock exchange and opening its financial books for scrutiny. Nobody will believe that a totalitarian govt doesn't wield control over a national icon that it meticulously built ...

In today's trade environment, whoever is running trade war, I hope has some sort of a reasonable plan.

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From: Bill Wolf6/17/2019 9:10:29 PM
   of 163744
 
U.S. Senator Rubio targets Huawei over patents

Reuters Reuters17 June 2019

in.finance.yahoo.com

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From: sbfm6/17/2019 10:45:53 PM
1 Recommendation   of 163744
 
Good or bad for Q if Huawei sales are confined to China only? Does anyone think Q will receive a penny of Huawei's China sales?

Huawei's Doomsday Outlook May Galvanize Home Support


www.bloomberg.com



Huawei Technologies Co. is braced for a fall.

China’s premier telecommunications equipment and smartphone maker is preparing for a drop of 40% to 60% in overseas handset sales, Bloomberg News reported Monday, citing people familiar with the situation.

That’s quite a blow to the business, considering that consumer devices (mostly smartphones) accounted for 45% of the company’s revenue last year. But it’s great for Huawei’s campaign to portray itself as a victim of U.S. bullying. The Shenzhen-based company has even set up a Twitter account to share “The official truth and facts about Huawei.”

A string of telcos have elected not to sell Huawei’s latest Honor brand phone, or are preparing to pull the plug should sales look weak, Bloomberg reports.

Let’s put that in context, though. Around 51% of Huawei’s shipments in the March quarter were in China, according to my calculations based on data from Counterpoint Research.

Western Europe, where Huawei faces most of its current headwinds, accounted for just 13.7% of shipments for the period, according to data compiled by Bloomberg Intelligence. The Middle East and Africa, and Central and Eastern Europe comprised around 9% each, while Latin America was 8%.

Japan, Canada and the U.S., which may be considered nominally hostile to Huawei, together accounted for less than 1% of first-quarter shipments. The rest comes from the broader Asia-Pacific region. This is just one quarter’s data, but they largely track full-year numbers for 2018.

In my estimation, the most Huawei-skeptic markets probably account for only 25% of the company’s smartphone sales. Which is around 50% of its overseas handset shipments. I don’t think all of those regions will cut Huawei sales to zero.

Let’s remember, Huawei is preparing for a downturn of around 50% in international sales, according to the report. That doesn’t mean such a drop will happen. It’s smart for executives to game out all the possibilities, and the impact they will have. Making the world believe that it’s been badly bruised by an anti-Huawei campaign driven by the U.S. can only bolster support at home. Given that the company isn’t publicly traded, such a narrative doesn’t risk panic-selling of its shares.

Nationalism will be Huawei’s strongest weapon in the battle to cut reliance on foreign technology. I wrote recently about the Silicon Wall that’s being built between Chinese and American spheres of influence as a result of U.S. President Donald Trump kicking off a technology Cold War. Being independent of the West is Beijing’s stated goal.

To rouse the troops, instill a sense of purpose, and rally the entire country in support of its cause, it might help Huawei to be seen as a victim. That can only enhance its status as a homegrown hero.

To contact the author of this story:
Tim Culpan at tculpan1@bloomberg.net

To contact the editor responsible for this story:
Matthew Brooker at mbrooker1@bloomberg.net

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