Zeev, QCOM has been a good trade lately, with a daily range of $1-2. But I'm starting to again squirrel a bit of it away into the core, as well.
The Cingular/AWE merger, ugly as it is, may very well signal an uptick in the wireless wars, which will entail more attempts at market share grabbing. Certainly, C/AWE's competitors all see this moment as an opportunity to strip customers from the newly born and unsteady giant.
Market share changes in wireless entail, as you know, equipment replacement. And equipment replacement, more and more, means 3G equipment, all of which means significantly more, and better quality, revenue for QCOM.
In addition, the Chinese and Indian wireless populations are turning up rapidly, and QCOM is becoming an increasingly important player in both countries.
The recent earnings forecast upgrade from QCOM may be repeated. If we see a market downturn through March, as you've suggested, it could be a propitious time to increase one's QCOM exposure.
fwiw,
phill
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