Qualcomm Inc (QCOM)

[IceRich]

Upbeat CNBC report. Kept repeating 2.5 year high.

Tim Long of Banc of America Securities closed with [long term] "This will be the highest growth company in the universe."

Both analysts agreed that QCOM is the best buy in the mobile phone market, the question being on whether this is the best point to buy, and uncertainty over the next two quarters.

Segment started with Jim Goldman (CNBC) giving a summary of the earnings update.

Next, Sam May of Piper Jaffrey stating QCOM is always consistent in its numbers, and there is good opportunity for the upside. The big suprise being the early date of the preannouncement. [note: this is consistent for QCOM, usually 20-25 of the second month]

Greg Teets, AG Edwards went into a litany of potential segment problems, including QCOM having problems getting enough chips to customers [always too much inventory, or not enough?], difficulties bringing new products online, etc.

Concluded with the 2 analysts, Long (Buy), and Christin Armacost of SG Cowan (Market Perform). Both stressed stength of China and India, and replacemetns in the USA. Long added Japan and 3G in Europe meaning a market share gain for QCOM

Armacost stated concerns of seasonality and the 2nd half of the year. Long talked about how this is both a semiconductor and royalty company.

Maria B asked if there were any better buys long term in the sector. Both said no, QCOM is it. [This has me worried, both analysts agreeing.]

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Wonder what would have happened today if the market had gone up too?