Qualcomm(QCOM) -> SpinCo Message Board

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Technology Stocks : Qualcomm(QCOM) -> SpinCo

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To: cfoe who wrote (98)	8/17/2000 6:57:26 AM
From: Maurice Winn	Read Replies (3) of 172

totaltele.com The German 3G auction could be slowing down at DM93.3506 billion (US$43.32 billion) on the thirteenth day, as reports predicted Group 3G (Sonera and Telefonica) would drop out by the end of the week. The UK 3G auction has now been left in the dust. Raes and the 3G4P Six [or seven] Musketeers must be peeing their pants! It's amazing how few people actually get it about the auction and why on earth companies are bidding so much. They really do seem to think it means WWeb prices will be higher than if the spectrum was given away in a beauty contest. They really do seem to think it means that the companies will not be able to afford to build the infrastructure. They really do seem to think it means that the buildout will be slow rather than fast. They probably even think that the bidders will wait around for the 6 Musketeers to come up with a working 3G system in about 2007. Serge Raes even thought royalties being high is an issue, failing to understand that royalties being too low is what allows companies to bid such high prices for spectrum. If QUALCOMM was charging the right price for the technology, there wouldn't be so much left on the table which is being competed away to buy spectrum. Serge wouldn't have a clue of understanding that idea. Q! has undercharged in Germany by $30 billion. $30bn would have looked good on the bottom line. If Q! charged that $30bn extra, what else could they have done? Waited for OFDM, which probably still requires Q! technology? Raes and co seem to be detached from reality. No wonder it's easy to make money in the stock market; so many people are detached from reality. They back things like the Bleeding EDGE and VW40 when perfectly good, cheap, CDMA by Mighty Q! is available now. Roll on the 3G auctions. Since Germany has something like 80 million people and Britain has only 60 million [give or take a few million], I suppose the 3G auction in Germany will round out at about $50 billion [they are a bit wealthier than the British]. Mqurice

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