Qualcomm stock fell, then rose, Fri. on reports that sales would ...
Qualcomm stock fell, then rose, Fri. on reports that sales would be delayed in Europe, but it said no delay in sales was expected. At issue was financial analyst’s prediction that 3G technology would be delayed 2-3 years in…
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Europe, which Qualcomm said was incorrect. Technology already is deployed in S. Korea and will be in Japan, N. America and Latin America this year, it said. Qualcomm forecast demand for CDMA circuits in 2nd quarter 2001 would be consistent with previous forecast of 16 million units, increase of one million units over first quarter. However, Motorola, major Qualcomm customer, said Fri. it might post first- quarter loss if sales continued to slow. In midmorning trading Fri. Qualcomm stock price fell 17% to $50.13, but price rallied to close at $61.8125.