Qualcomm Inc (QCOM): Qualcomm Seen As Large-Cap Favorite For...

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Wednesday, 08/17/2005 10:02:00 AM

Wednesday, August 17, 2005 10:02:00 AM

Qualcomm Seen As Large-Cap Favorite For 2nd Half
Ed Lin, 08.17.05, 9:45 AM ET

http://www.forbes.com/markets/2005/08/17/qualcomm-wireless-pick-0817markets02.html?partner=yahootix

Piper Jaffray highlighted Qualcomm (nasdaq: QCOM - news - people ) as a favorite large-cap stock for the second half of calendar 2005, citing improving near-term datapoints and expectations for strong 3G subscriber growth during 2006.

Piper Jaffray said several regions have shown improving trends recently, including Japan, India and South Korea.

"Recent checks with industry contacts also suggest improved order rates for Qualcomm's chipsets," the research firm noted. "We believe sequentially higher chipset average selling prices reported last quarter reflect improved product mix toward WCDMA and EV-DO. We believe this favorable mix shift will continue over the next several quarters, and we expect stronger operating margins in [the] QCT [unit] during fiscal 2006."

Piper Jaffray rates Qualcomm at "outperform" with a price target of $47.