Trends Bode Well For Qualcomm

Forbes.com reports that Piper Jaffray analyst T. Michael Walkley raised forecasts for Qualcomm (QCOM), which, will "will announce fiscal second-quarter 2006 earnings on April 19." According to the article, "Samsung, a business partner of Qualcomm, reported approximately 2.4 million WCDMA shipped in the quarter, above the 2.0 million units shipped during the fourth quarter of 2005."

Walkley viewed this as a positive trend for Qualcomm in a report on Monday, and "also cited several positive trends for Qualcomm based on channel checks, such as improvement in the EV-DO mix, strong subscriber results for WCDMA and CDMA in Japan in the quarter, strong subscriber growth in India, and re-accelerating handset sales in South Korea due to the re-introduction of subsidies."

Walkley "raised his overall 2006 WCDMA and CDMA unit forecasts to 95 million and 181 million units, respectively from 92 million and 176 million units."