[해외투자론] 퀄컴(QCOM) 투자 사례(영문)

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목차
1. Fundamental approach

1) Top-down approach

(1) Economic
A) Prospect of world economic
B) US Economic

(2) Industry

(3) The company “Qualcomn”
A) Brief introduction
B) Financial information
c) prospective of qualcomn – R&D


2. Conclusion
본문내용
B) US Economic

Nobody can sure When U.S economic will be good. There are complicated problem in U.S economic crisis. From microeconomic to macroeconomic like fiscal policies they have a bunch of problems. Some Economist said that there are some signs which show U.S economic are getting out from the crisis. However, Sub-mortgage problem has not solved yet. Also unemployment rate is still high and consumer confidence which account for most of U.S economic is not better then before the crisis begin.
According to SERI, prospective of U.S economic has bright and dark side. The key business sentiment index has turned high and consumer rate is going up. Also Most of banks’ CDS premium is lower than before the crisis. So someone say it’s indication of us economic recovery. However, others are skeptical about their analysis. They say US government has serious fiscal problem and still credit card latepayment rate is going up.
So, Even if U.S economic still has a lot of problem, we think U.S economic will be better. Because some statics show us how u.s economic is overcoming the crisis.

(2) Industry
- mobile industry
The mobile communications industry continues to evolve at an unprecedented pace, creating new opportunities and introducing new participants across the entire value chain.
From a pure statistical point of view, the global mobile subscription penetration grew from 12% in 2000 to approximately 68% in 2009. The overall revenues grew over 400%, the data revenue grew 32,600% and the total subscriptions grew 563%. Although, Especially, China and India were late to the party, they caught up with the western world during the second half of the decade and eventually surpassed all nations becoming number one and two nations by subscriptions respectively. In 2006, China Mobile became the most valuable operator. Mobile devices went significant transformation as well. From the early Bluetooth, camera, and music phones to the iPhones, the Storms, and the Androids, the industry was transformed by the introduction of Apple’s iPhone in 2007. While Bluetooth, sleek designs, camera phone defined the first half of the decade, the second half was all about the applications and the mobile web. The US market also experienced tremendous growth with mobile data service revenues climbing 21,327% and becoming a mainstay in the mobile economy. In 2008 it already crossed Japan as the most valuable mobile data market.

As a result, If we look at the pace of mobile industry growing, we could expect that this industry has lots of chance to be bigger than now. Increased mobile subscribers and 3G technology in china will stimulate mobile industry revenue, which means that the biggest market in the world give opportunity to company related with mobile industry.

(3) The company “Qualcomn”
A) Brief introduction
Qualcomn is founded in 1985 by Irwin Jacobs, Andrew