The telecom equipment sector, and wireless communications, in particular, has very huge swings in relative valuation, depending on the comfort level that investors have in a company. The pace at which we believe the margin improvement will occur in mobile phones is not at the level that we had anticipated. On the infrastructure side of the business, we are still optimistic.

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The more successful Motorola is, the more they owe Qualcomm.

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This news is especially important when in the next few years standards will converge.

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