by Zacks
We reiterate our Buy recommendation and the same valuation
target for Qualcomm (QCOM), a leading developer of digital
wireless chipsets based on CDMA technology, as the company
will shortly declare second quarter fiscal 2008 financial results
(ended March). As further support to our rating, the company
raised its financial outlook for full fiscal year 2008, despite facing
a weak U.S. economy. Qualcomm s fundamentals remain
compelling as robust growth in the 3G wireless handset market
are driving healthy product sales. Multiple WCDMA operators
have adopted Qualcomm s BREW platform and the company
maintains favorable average selling prices on most of its business
lines. We believe continued strength in the 3G wireless market
and the emergence of mobile video solutions, coupled with
superior technology and a cash strong balance sheet, support
Qualcomm s long-term growth prospects.
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$41.59 (04/16/08)
