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Strategies & Market Trends : Gorilla and King Portfolio Candidates

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To: Uncle Frank who wrote (6103)	9/8/1999 2:59:00 PM
From: LJM	Read Replies (1) of 54805

QCOM analyst Mark Roberts from Everen Securities was just interviewed on V-call. He re-capped his meeting with MGMT last week. The main/best points were 1. He expects QCOM to deliver 50 percent compounded earnings growth for the next five years. 2. He thinks this estimate is on the conservative side and has factored nothing in his numbers for China potential because at this time he is not bullish on the opportunity there. 3. The components shortage problem will cause QCOM to meet or beat the estimates by a smaller margin than the past for this quarter but that the long term picture and fundamentals were still in place. The interviewer gasped a little when he restated the 50 percent compounded earnings growth rate and did a quickie PE calculation of 43 against next year earnings. His conclusion was that at today's price of 169, QCOM was trading very reasonably for a company that could deliver 50 percent earnings growth for the next five years!!! It is available for replay. LJM

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