Redherring.com: Qualcomm gets a second wind
By Dan Briody
Redherring.com, October 10, 2000
Remember when it was cool to own Qualcomm (Nasdaq: QCOM) stock? Well get ready, because just like Charlie's Angels, Qualcomm is coming back into vogue.
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In addition, the company has gotten a huge boost from the news that China Unicom (NYSE:CHU), a telecommunications company with over 14 million subscribers, has revived its plans to pursue a code division multiple access (CDMA) network. Qualcomm, which owns several key patents involving CDMA technology, has been sweating out the techno-political drama in China, which at one point looke like it would ban CDMA and shut Qualcomm out entirely.
"What has changed is that there seemed to be no room in China for Qualcomm, and now there is room," says Pete Peterson, senior telecom analyst at PrudentialSecurities. "Up to this point, theworld market had not been involved. Now with 3G networks, instead of everyone looking to Europe for direction, we are looking at a world technology[CDMA] sold to the world market. And the premier supplier of CDMA to new entrants has been Qualcomm."
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