There was nothing wrong with the process.
More Quotes from Michael Ching:
Our concern on Qualcomm relates to the outlook for the handset and CDMA business. As we have indicated previously, we remain concerned that the company may take down forecasts for future earnings because we think the company's CDMA forecasts are too aggressive.Michael Ching
Lucent has run up recently on media discussion of being a take-over target. We believe that in the current environment, this is a possibility.
Michael Ching
In the near-term, Qualcomm's earnings outlook has been diminished due to recent events in China and Korea. For the June quarter, we are currently forecasting 16 percent pro forma revenue growth to 750 million and 26 percent pro forma EPS growth to 27 cents. Based on the company's press release, our EPS estimate looks to be too high.
Michael Ching
Specifically, the company suffers from a bloated inventory of older model phones, which is slowing the transition to newer, higher-margin products.
Michael Ching
The fact is that Next Level's management has no indication as to whether Qwest will actually slow down VDSL deployment. We do not believe that there will be any upside to next year's numbers from Qwest and, in fact, there may be some downside.
Michael Ching
I wasn't even informed that it was up today.
Michael Ching
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