Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 163.33

-1.0%

Nov 25 3:59 PM EST

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To: kech who wrote (33109)	6/24/1999 4:46:00 PM
From: Ruffian	Read Replies (5) of 152472

Any Comments> QCOM DOWNGRADE by: sbrow54552 23300 of 23301 Today Hambrecht & Quist analyst Edward Snyder issued a "MARKET PERFORM" rating on QCOM.I was curious so I called him for his views.Here they are as accurately as I can remember.He thinks that THIS QUARTERS NUMBERS WILL BE HIGHER than the consensus and just raised his estimates.However,he feels that Nokia,Motorola,and Ericcson will be selling the majority of handsets in the future and therefore QCOM's handset business will drop or not grow as much as expected.Since the majority of it's earnings are from handsets he feels that the increase in earnings from royalties(which are currently 6% of sales and 20% of profits)will NOT offset the drop in profits(or slowdown in growth of).Therefore,after this quarter he's concerned about profits.He did agree with me that if QCOM sells the handset business the stock will probably go thru the roof!All comments appreciated.

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