Cantor's Dale Pfau starts coverage on Qualcomm (NASDAQ:QCOM) and Broadcom (BRCM) at Buy. Pfau...

Cantor's Dale Pfau starts coverage on Qualcomm (NASDAQ:QCOM) and Broadcom (BRCM) at Buy. Pfau thinks Qualcomm can add to its 45% share of the smartphone baseband chip market given the huge design win share of its Snapdragon processors, and is also positive on the continuing migration to 3G networks in emerging markets. Meanwhile, Broadcom's mobile business (baseband and Wi-Fi/Bluetooth combo chips) is expected to post a 25% CAGR. (QCOM conference)