Demand for smartphones which include Qualcomm's (Nasdaq:QCOM) Snapdragon processors appears to be exceeding expectations during the Christmas season, and is should continue to do so over the next couple of years says Canaccord Genuity.
They said, "November channel checks indicate smartphones featuring QUALCOMM’s Snapdragon processors sold well during November, including the HTC Incredible at Verizon (NYSE:VZ), the G2 and myTouch 4G at T-Mobile (NYSE:DT), and the HTC EVO at Sprint (NYSE:S). While our checks show modest initial sales of Windows Phone 7 smartphones at AT&T (T) and T-Mobile, feedback from store reps was quite positive regarding the performance of the products and overall global sales trends are positive. We believe Windows 7 smartphone sales ahead of our modest expectations could lead to upside to our Snapdragon estimates. Moreover, we believe the increasing mix of CDMA-based smartphone sales is positive for sales in QUALCOMM’s CDMA business. Canaccord Genuity maintains its belief that an improving global smartphone mix, ramping 3G growth trends in India/China, stable royalty rates and new 4G LTE and tablet opportunities for QUALCOMM integrated MSM processors will lead to re-accelerating revenue and earnings growth during F11 and F12. Canaccord Genuity remains bullish on the name.
Qualcomm closed Friday at $48.82, up by $0.33, or 0.68 percent.
Showing posts with label SnapDragon. Show all posts
Showing posts with label SnapDragon. Show all posts
Monday, December 6, 2010
Thursday, November 18, 2010
Qualcomm's (NASDAQ:QCOM) Being Driven by SnapDragon, Supporting WiFi Only
Qualcomm (NASDAQ:QCOM) has its "Buy" rating maintained on them by Gleacher & Co., citing the strong performance of SnapDragon and the company's commitment to supporting a “WiFi-only” SnapDragon product.
"It is clear that SnapDragon is winning and driving strength in chip ASPs and margins. QCOM views GOOG’s NexusOne phone as the initial “game changer” which drove the market to 1GHz clock speeds. QCOM has begun shipping dual core and is very optimistic about its tablet opportunity. We are encouraged that QCOM will support a “WiFi-only” SnapDragon product due to strong customer requests. We expect a detailed presentation with QCOM talking about 10 high-profile tablet wins which will ship in the coming months, predominately Android-Based," said Gleacher.
Qualcomm closed Wednesday at $47.98, gaining $1.60, or 3.45 percent. Volume was over 8 million higher than its 3-month average. They have a market cap of over $77 billion.
"It is clear that SnapDragon is winning and driving strength in chip ASPs and margins. QCOM views GOOG’s NexusOne phone as the initial “game changer” which drove the market to 1GHz clock speeds. QCOM has begun shipping dual core and is very optimistic about its tablet opportunity. We are encouraged that QCOM will support a “WiFi-only” SnapDragon product due to strong customer requests. We expect a detailed presentation with QCOM talking about 10 high-profile tablet wins which will ship in the coming months, predominately Android-Based," said Gleacher.
Qualcomm closed Wednesday at $47.98, gaining $1.60, or 3.45 percent. Volume was over 8 million higher than its 3-month average. They have a market cap of over $77 billion.
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