Zeev's Turnips Patch-No Politics (ZEEV)

[wstera2]

12:14 ET Qualcomm: 3G delays, Taiwan Semi pressure shares-- Lehman (QCOM) 25.75 -3.36: -- Update -- Lehman believes that delays in W-CDMA rollouts (Telefonica delayed this morning) are likely to reduce medium-term opportunities for W-CDMA royalties and chipset sales and may weigh on QCOM shares; believes QCOM may also be seeing some incremental pressure following somewhat uninspiring results from TSM this morning; firm expects QCOM tonight to deliver in-line numbers with mgmt likely to support a sequential uptick in Sept and Dec chipset expectations, although the sector remains challenging near-term.