Qualcomm, Inc. (NASDAQ:QCOM)

CAPS Rating: 5 out of 5

Develops, manufactures and markets digital wireless telecommunications products and services based on their CDMA technology and other technologies.


Player Avatar ROEoutshinesGOLD (99.43) Submitted: 11/7/2012 3:39:44 PM : Outperform Start Price: $56.16 QCOM Score: -19.21

ARGUS' Analyst Notes:Analysis by Jim Kelleher, CFA, September 13, 2012ARGUS RATING: BUY• Early iPhone 5 launch beneficial• Qualcomm may benefit from the early launch of iPhone 5, which will contribute for nine days in fiscal 4Q12.• A higher number of iPhone 5 chipsets would more meaningfully impact revenue given the higher ASP associated with the chips used in iPhone 5.• Apple's competition sought to preempt iPhone 5 with numerous product launches; Qualcomm's bill of materials (BOM) in several of these phones is significantly higher than its BOM from iPhone 5.• The Street is likely under-estimating Qualcomm's earnings power, partly because the iPhone launch was pulled into calendar 3Q12 but also because of Qualcomm's higher-priced Snapdragon presence in competitive smartphones that seem to be gaining momentum

Member Avatar ROEoutshinesGOLD (99.43) Submitted: 11/7/2012 6:09:48 PM
Recs: 0

Seems ARGUS analyst was right, given today's earnings:

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