Canaccord Genuity on Communication/Wireless Equipment: MWC Meetings Signal Intense Smartphone Competition is Driving Strong 3G/4G Growth
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Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
45 Buy, 28 Hold, 9 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Canaccord Genuity on Communication/Wireless Equipment: MWC Meetings Signal Intense Smartphone Competition is Driving Strong 3G/4G Growth
Analyst, T. Michael Walkley, said, Based on our expectations for strong smartphone and tablet sales during 2012, a longerterm 4G upgrade cycle, and ramping M2M [machine to machine] sales, we reiterate our BUY ratings on large-cap top picks Apple and Qualcomm and small-cap top pick Sierra Wireless.”
He added:
Apple (Nasdaq: AAPL) – Solid catalysts in C2012: We anticipate Apple will launch the iPad 3 on March 7 and believe Apple will continue to grow faster than overall computer/tablet markets...Therefore, we believe Apple should post strong 2012 earnings growth.
Qualcomm (Nasdaq: QCOM) – Android momentum positive: A common theme from our meetings at MWC was new LTE smartphone introductions from leading Android OEMs [original equipment manufacturers] in an attempt to better compete with the iPhone and how Qualcomm was the leading supplier for all leading OEMs.
Sierra Wireless (Nasdaq: SWIR) – Top small-cap pick for 2012: We anticipate a solid 4G upgrade cycle throughout 2012 with both AT&T and Sprint increasing 4G investments, and Sierra Wireless should benefit from ramping 4G mobile computing sales to both leading customers. We also believe Sierra Wireless will grow its leading M2M market share.
Analyst, T. Michael Walkley, said, Based on our expectations for strong smartphone and tablet sales during 2012, a longerterm 4G upgrade cycle, and ramping M2M [machine to machine] sales, we reiterate our BUY ratings on large-cap top picks Apple and Qualcomm and small-cap top pick Sierra Wireless.”
He added:
Apple (Nasdaq: AAPL) – Solid catalysts in C2012: We anticipate Apple will launch the iPad 3 on March 7 and believe Apple will continue to grow faster than overall computer/tablet markets...Therefore, we believe Apple should post strong 2012 earnings growth.
Qualcomm (Nasdaq: QCOM) – Android momentum positive: A common theme from our meetings at MWC was new LTE smartphone introductions from leading Android OEMs [original equipment manufacturers] in an attempt to better compete with the iPhone and how Qualcomm was the leading supplier for all leading OEMs.
Sierra Wireless (Nasdaq: SWIR) – Top small-cap pick for 2012: We anticipate a solid 4G upgrade cycle throughout 2012 with both AT&T and Sprint increasing 4G investments, and Sierra Wireless should benefit from ramping 4G mobile computing sales to both leading customers. We also believe Sierra Wireless will grow its leading M2M market share.
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