Pat, all I mean to say is that I see the market's greed to own the next Internet and anyone who plays against this is taking a big risk. Perhaps bigger than being long. Short term, there is a correction taking place. Whether it takes it back to the 70's seems unlikely.
One thing is sure for me, it often seems hard to buy back a stock you've sold for less. I'm looking at HLIT which has also had an incredible ride to 100+ and I held it or years under $20 only to miss the big move taking profits hoping for a pull back.
Here's a story about 3Com which I'm not sure I understand. I was expecting it to say they are offering 3Com's branded Internet (non WAP) service, but instead it seems to be a switch based product that is meant to improve the network.
Regards, Mark
Sprint PCS to Use 3Com's Technology for Wireless Web Service
Bloomberg News
Tuesday, August 24, 1999
KANSAS CITY, Mo. - Sprint Corp., the No. 3 U.S. long-distance phone company, said its PCS Group will use technology from No. 2 communications-equipment provider 3Com Corp. for wireless Internet service starting next month.
Sprint PCS said it will use 3Com's InterWorking Function (IWF) technology to offer wireless Web services to as many as 4 million subscribers nationwide in late September.
3Com executives valued the contract around $20 million and said it eventually will bring in more. They said the Santa Clara, California-based company also plans to sell the technology to other carriers worldwide.
Sprint PCS, based in Kansas City, Missouri, said it installed the 3Com wireless products in its nationwide network all year and successfully conducted trials in June.
Sprint PCS previously announced that it would offer Sprint PCS Wireless Web as its entry in the increasingly competitive market for access to the Internet among mobile customers. Rival Nextel Communications Inc. will offer Nextel Online, and Vodafone AirTouch Plc said it plans similar service soon in Seattle, Salt Lake City and Michigan.
The 3Com IWF technology uses software compatible with so-called code-division multiple-access switches in mobile networks that let a user connect directly to the Internet without delays associated with modems in personal computers. Access can be established in less than 7 seconds, the companies said.
Keith Paglusch, Sprint PCS senior vice president for network operations, said the 3Com technology will enable his company ''to take its place ahead of all its competitors.'' He said customers will be able to obtain Internet access wherever they travel on the company's network.
Price Plans
Monthly web-access prices will range from $9.99 to $179.99, in addition to regular phone charges. Besides minutes to use for voice or data communications, customers will receive specified news updates from Yahoo! Inc., the No. 1 Internet portal.
3Com, developer of the bestselling PalmPilot family of hand-held computers, said its technology already has proven effective for connecting a full range of mobile products, including PCs, phones and hand-held devices.
3Com introduced the technology in October as part of its Total Control multiservice platform. Bennett Cardwell, the company's director of wireless product management, said Sprint was only one of several carriers expected to use the 3Com hardware and and software for wireless Internet services.
''We're taking this product global,'' he said, adding that 3Com has already sold the technology to Bell Atlantic Corp., the No. 1 U.S. local phone company, as well as SK Telecom Co. of South Korea.
Sprint PCS represents all of Sprint Corp.'s digital wireless operations and is a tracking stock for the parent, based in Westwood, Kansas.
Shares of 3Com fell 3/16 to 23 5/8 in late trading, while Sprint PCS rose 3/4 to 59 5/8.
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