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Strategies & Market Trends : Gorilla and King Portfolio Candidates

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To: Uncle Frank who wrote (3691)	7/12/1999 11:26:00 PM
From: Mike Buckley	Read Replies (4) of 54805

Frank, About QCOM's additional shares: Assuming the worst-case scenario, 4,600,000 shares will be added including the over-subscription allotment. That will result in a teensy weensy 3% dilution and will add $700 million to the cash coffers. In my mind, it's a non-event in context of the big picture. The most important aspect is that management is probably telling us before the earnings report has been released that it will be very good. If you were the CEO, would you announce the decision to issue more shares just days before the earnings report if you didn't expect a great reaction to the report? (Rhetorical question. :) --Mike Buckley

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