Qualcomm To Benefit From Smartphone Sales Traffic

Piper Jaffray issued a research report that indicated strong smartphone sales at all major cell providers through April-May. It concludes that increased Android and 3G CDMA-based smartphone sales benefits chip manufacturer Qualcomm QCOM the most. Qualcomm makes the popular 1Ghz Snapdragon processor found in cutting edge phones like Verizon's VZ HTC Incredible, Sprint's S 4G Evo, T-Mobile's HTC HD2 (powered by Windows)MSFT, and Google's GOOG Nexus One. Piper Jaffray believes that QCOM's MSM mix will further improve through 2010 and lead to recovering QTC margins after the June quarter. Also, Piper expects stronger long-term earnings growth for Qualcomm, reiterating an Overweight Rating with a $52 price target. Continuing gains in the Android OS's smartphone market share over Apple's AAPL, as seen this past week, will only further benefit Qualcomm. See Benzinga's Entire Feed Here