Qualcomm Inc (QCOM)

[khemara_qc]

GSM Slowdown in first half, WCDMA Uptick in the second half

Market Pulse: Prudential ups Ericsson to overweight from underweight
Friday April 22, 8:57 am ET
By Steve Goldstein

http://biz.yahoo.com/cbsmb/050422/cf81efff92874a3cbcce1734b9655197.html?.v=1

LONDON (MarketWatch) -- Prudential Equity Group upped Telefonaktiebolaget LM Ericsson to overweight from underweight, saying the GSM slowdown is now reflected in first half estimates and the company could begin to benefit from a WCDMA uptick in the second half. "This was supported by Qualcomm on their call last night where they commented that chipset orders doubled in the March quarter and expect to see sequential growth in all 2005 quarters," the broker said. It also upped its price target to $37 from $26. Ericsson shares were up more than 4% in Stockholm.