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Our top managers remain cautious, focusing more on relative valuation and increasing their willingness to book gains in the face of a rising (but potentially overvalued) market.
Ladies and gentlemen, thank you for standing by. Welcome to the QUALCOMM First Quarter Fiscal Year 2014 Earnings Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session.
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