QCOM Our Biggest Telecom Buy – Analyst Blog
Source: http://www.zacks.com/stock/news/16501/QCOM+Our+Biggest+Telecom+Buy+-+Analyst+BlogPosted on Monday, December 22nd, 2008 | In Stocks to Watch
We maintain our Buy recommendation for Qualcomm, Inc. (QCOM), the largest developer of digital mobile chipsets based on CDMA technology.
The company’s fundamentals remain compelling since it has several industry-leading innovative products for a variety of wireless applications. Qualcomm’s legal settlement with Nokia (NOK) for royalty related issues and a new 15-year licensing agreement significantly strengthens business planning.
Demands for mobile broadband services and adoption of 3G technologies will continue to grow throughout the world as the company retains one of the strongest balance sheets in the industry. However, over the near-term, an extremely challenging global economy is likely to generate lumpy chipset sales and associated average selling prices.
Based on current valuation levels and general economic concerns, we reduce our six-month valuation target for Qualcomm, but we keep our rating Buy.
Read the full analyst report on QCOM
“QCOM” Free Stock Analysis: Buy? Sell? Hold?
“NOK” Free Stock Analysis: Buy? Sell? Hold?
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