Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 178.29

-1.6%

Dec 12 9:30 AM EST

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To: jmanvegas who wrote (53421)	12/10/1999 11:15:00 AM
From: R. Ramesh	Read Replies (1) of 152472

$500 by 3rd/4th Q of 2000 looks a bit too conservative. Here is what I see. According to the earnings report that I received pro forma for fiscal yr ended is about $3. This is with about 40mill chips shipping. IJ has said conservatively it will be about 70M shipping this year. Further he is asking us to approve 3B shares. It is widely spoken that 50% growth for the next few years is very attainable. Putting all together I get 2000 Fiscal EPS $6, 1999-2000 growth 75+% 2001 Fiscal EPS $9, 2000-2001 growth 50+% I think a PE 100 for trailing earnings and PE of 75 with forward earnings is reasonable. This gives us price targets of 600-650 by next year end. Again I believe these are somewhat conservative given that we are requested to authorize 3B shares and that IJ openly said 70M is likely to be a conservative number. Regards Ramesh

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