What is AQIS broadcast frequency? I mention this because this briefing.com article got me thinking of the value of AQIS frequency if right.
Winstar (WCII) 73 7/8 +1/2 : Today's announcement that Winstar has been granted nine additional 100 MHz channels in the 38 GHz spectrum by the FCC isn't getting much action in the stock, today. The reason for that is it represents an increase of only 2% in their total 38 GHz wireless capacity. But if you step back a minute and look at Winstar's complete holdings of high frequency licensed spectrum, it is an impressive arsenal. Winstar has accumulated a huge inventory of wireless broadband capacity, and it makes so little use of it all, today, that it almost is baffling. Nevertheless, we think it is roughly equivalent to staking out huge tracks of land in the old west, before the railroad comes to town. If 38GHz spectrum becomes the desirable vehicle for wireless broadband, Winstar wins big. So the question every Winstar investor needs to ask is this: "Is 38 GHz the wireless broadband spectrum of the future?" If so, it may be worth accumulating an inventory of WCII stock. To be honest, we don't know where the wireless "chips" are going to fall, not yet anyways, but as big believers in the future of wireless broadband, Winstar is high on our research list. Winstar also looks interesting as a single source vendor of local/long distance phone and internet data services. Briefing.com strongly believes that the market will move quickly next year to single source vendors. Winstar, a relatively small player compared with the other teleco giants, could easily become an acquisition candidate. The only real concern we have about Winstar is the incredibly high level of debt (more than $2 billion) and the huge level of losses. As a standalone provider of services, it could take a long, long time to build up a decent balance sheet, especially if wireless broadband doesn't take off. But if wireless broadband does take off, and we think it will, Winstar might generate the most shareholder value by selling itself. That ultimate value would be highest if the 38 GHz spectrum becomes the hot band, but frankly, the whole wireless arena is still too new to make a firm determination of where the demand really lies. But we think the year 2000 will be the one where that becomes clear. And that starts just two business days from now. - RVG
Jack |
