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Canaccord is reiterating a Buy on Qualcomm (QCOM) ahead of Wednesday's FQ4 report, but is also...

Canaccord is reiterating a Buy on Qualcomm (QCOM) ahead of Wednesday's FQ4 report, but is also slashing its estimates. The firm is lowering its royalty forecast for FQ4 on account of mixed data from smartphone vendors (I, II), and is cutting its FY12 EPS estimate due to macro uncertainty and lower smartphone forecasts for Western markets.
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