S&P REITERATES STRONG BUY OPINION ON SHARES OF QUALCOMM (S&P Capital IQ)
S&P REITERATES STRONG BUY OPINION ON SHARES OF QUALCOMM
(S&P Capital IQ)
We raise our 12-month target price by $2 to $84, based on P/E peer analysis. We are increasing our FY 2013 (Sep.) EPS estimate by $0.13 to $3.91 and our FY 14 estimate by $0.13 to $4.43. QCOM reports Dec-Q GAAP EPS of $1.09, vs. $0.81, $0.11 better than our estimate. Revenue was 1.8% ahead of our estimate due to 3.3% revenue out performance by the chipset business (QCT). QCOM raised its FY 13 revenue forecast from a midpoint of $23.5B to a midpoint of $23.9B. We expect smartphone growth to drive 31% revenue growth in QCT and 24% growth in QTL (royalties) in FY 13. Less
Real info? I'm finding out many of these "pumper quotes" are (1) selective quotes, leaving out any negatives; (2) old articles that have no date on them. Do a Google search and find about 10 articles with the same title as above, and some are back from last year! So, don't be so quick to label this as "real info, no basher junk."