said this afternoon that demand for its code division multiple access integrated circuits in the second quarter is "consistent" with its previous forecast of 16 million units, a total that would represent an increase of 1 million units from the first quarter.
The company also expects shipments to increase in the third quarter. Qualcomm added that actual royalty reports received from the company's licensees for the first quarter were "exceptionally strong."
Qualcomm indicated that it wanted to dispute recent news reports, which stated that all third-generation technology will be delayed for two or more years. The company doesn't expect a delay for one of the technologies, called cdma2000 1x. That technology is already commercially available in South Korea and will be rolled out in Japan, North America and Latin America this year. Qualcomm will collect royalties from the use of cdma2000, as it will for other flavors of CDMA, such as W-CDMA, or wideband CDMA.
reported that Qualcomm, which is based in San Diego, is warning of a two-year delay in the roll-out timetable of third-generation wireless technology promised by European operators.
Shares of Qualcomm were punished earlier in today's session, trading as low as $50.13, a 52-week bottom. The stock closed yesterday at $66.94. Qualcomm rebounded during regular action, closing at $61.81 and maintaining that price in after-hours
activity. This morning,
Deutsche Banc Alex. Brown
lowered its ratings on a number of companies in the wireless telecom sector to buy from strong buy, including Qualcomm.