UPDATE: Williams Financial Group Reiterates Hold on QUALCOMM on Samsung 28nm Deal

Williams Financial Group remained Hold-rated on QUALCOMM

as the company is expected to sign a deal with Samsung on its 28nm line. In the report, Williams Financial Group stated, "Overnight, Samsung officials said that they had reached a 'tentative agreement' with Qualcomm to produce the S4 on Samsung's 28nm process, with production to begin in the first half of next year. The final details are still being worked out regarding price and volume, but an agreement in principle looks to have been reached." Later in the report, Williams Financial Group noted, "From what we are hearing from contacts, TSMC's 28nm volume has been steadily improving and should not be a further limitation to the iPhone 5 launch, although we would have preferred to see some Samsung or UMC foundry diversification this year, versus the first half of 2013." Shares of QUALCOMM closed at $56.26 on Tuesday.