Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 178.98

+0.4%

1:50 PM EST

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To: Maurice Winn who wrote (23991)	3/10/1999 5:06:00 PM
From: Ruffian	of 152472

Maurice> Telecom a must-have for investors - analyst The Evening Post A leading international share analyst is recommending Telecom as a "core holding" for anyone investing in the Asia-Pacific region. Morgan Stanley Dean Witter, which in January advised investors to keep their portfolios underweight in New Zealand shares, sees strong growth for Telecom. The analyst has a positive "outperform" rating on Telecom. After reviewing the company's latest financial results, Morgan Stanley said it expected revenue from cellular phones and data services to surpass previous forecasts. Last month Telecom posted flat earnings, but buoyant cellphone and data services revenue. Third-quarter 1998 revenue from cellphones was 9.5 percent up on 1997, while revenue from data services was 20.8 percent higher. "Combining these factors with the economic recovery . . . we continue to view TCNZ (Telecom) as a high-yield, well-managed play on both New Zealand as well as telecommunications industry fundamentals," Morgan Stanley said. The analyst forecast Telecom's share price at $9.95 in 12 months. Telecom shares opened here today at $9.40. - NZPA Supplied by New Zealand Press Association

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