QCOM Raises Guidance

Deutsche Bank notes that QCOM raised its guidance for the second time this qtr. They say the earlier preannouncement was the result of better than expected chip shipments and today's news is the result of better licensee shipments.

Taken together, the firm says these data points reflect strong and growing demand for 3G devices. Firm says the co pointed to healthy trends for it's WCDMA, EV-DO Rev A and HSDPA products. QCOM remains the firms top pick in the sector. Despite unfavorable stock market conditions, they believe QCOM's fundamental remain solid and should continue to benefit from positive secular changes in the industry.