Smartphones Taking Qualcomm To The Next Level, Next Stop $62
Shipments of the company's CDMA mobile station modem, or MSM, units totaled 127 million in the fourth quarter, surpassing even the higher-end of its previous forecast range of 120 to 125 million units. Following the announcement, Qualcomm?s shares rose almost 9% in after-hours trading Wednesday. We have also revised our price estimate upward for the Qualcomm stock from $59 to $62, which is about 8% above market price.
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