He said a hidden way to play the smartphone trade is to go with Qualcomm (QCOM) because it's the beneficiary of all the phones. "If its chip is not in it, then it gains from the license revenue from it," he said.

Alternative tech that covers more of the sector

G4 position

Qualcomm (QCOM) is another tech bargain—and manager favorite. One Big Money manager expects the company to earn $2.36 a share in the next 12 months, which implies a P/E of 17.5—well below its five-year average forward P/E of 22, he says. Qualcomm boasts operating margins of 35%, and pays a dividend of 68 cents, for a yield of 1.6%. A maker of cellphone chips, it is gaining market share in the 3G (third-generation) handset market.

just bought some Qualcomm (QCOM) because it is down almost 20% on some number shades for 2009 when I think 2010's going to be great. It's the right level.

I would be thinking of the plays that are necessary to expand in this business, so I would look at Ciena (CIEN), Tellabs (TLAB), ADC Telecommunications (ADCT) and Qualcomm (QCOM) -- although everyone keeps chattering endlessly about the problems in China for Qualcomm, problems that are short-term involving the delay of systems being built.

For those looking for a slow trade, or one you can hold onto for the long-haul, Adami says to look no further then Qualcomm (QCOM). "If you like Apple, you will love Qualcomm," he said. "They have the marked nailed in wireless mobile devices" as the world's largest maker of phone chips.

internet

strong player in wireless comm standards and technologies

patents

am holding-but it looks lackluster

gj

Worst Cell Phone Maker Ever.

all the way up and all the way down. My Fault

Never goes up!

From leader to cellar

CDMA technology dated/Stock Flat/Should have settled suits and moved on with R/D.

Losing focus.

Shares have been on a tear lately, rising 17% since February 2.

"But the primary driver behind the rise has been a flow of rumors that Qualcomm (QCOM) and Nokia (NOK) are close to hammering out a new licensing pact, to replace one slated to expire April 9."

However, CEO Paul Jacobs says the 2 sides are far apart, saying recently that talks were "pretty much at deadlock...Worse, he intimated that it might take legal action to reach an agreement."

Too fast, too soon. Look for a 7-10% pullback over the next quarter.