Michael Ching Quotes

There was nothing wrong with the process.

- Michael Ching

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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

We believe that most of the issues impacting Lucent's September quarter results are company specific. Even increasing bad debt reserves because of emerging service provider credit concerns reflects Lucent's aggressive policy towards providing vendor financing. - Michael Ching

Chipset sales declined 26 percent to $269 million, and operating margins dropped to 24 percent from 39 percent. Qualcomm shipped only 11 million chipsets in the quarter, down from 15 million in the preceding quarter and 13.5 million a year ago. This disappointing performance partially reflected continued weak demand in Korea. - Michael Ching