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Qualcomm FYQ3 Estimates Tricky with Apple, NXP Distractions

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Shares of wireless technology giant Qualcomm (QCOM) are up 32 cents, or 0.6%, at $56.61, in advance of the company’s fiscal Q3 report this afternoon, after the closing bell.

Analysts are, on average, modeling revenue of $5.28 billion, and EPS of 83 cents, excluding some costs, which is about at the middle of the forecast Qualcomm gave on April 28th for $4.8 billion to $5.6 billion, and 75 cents to 85 cents, when the company cut its outlook after stating Apple (AAPL), its top customer, continues to direct manufacturers of the iPhone to withhold royalty payments due to Qualcomm on the device.

Obviously, the legal battle with Apple casts a shadow over the quarter, and is a greater focus for the Street than the immediate quarterly results. That, and the company’s pending $45 billion...


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