The New Qualcomm - a S&P500 company Message Board

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Technology Stocks : The New Qualcomm - a S&P500 company

QCOM 170.65

+1.5%

3:59 PM EST

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To: JGoren who wrote (5683)	1/25/2000 11:32:00 PM
From: Keith Feral	Read Replies (1) of 13582

After splitting the stock 2 for 1 and 4 for 1, it would be impossible to expect too big an EPS upside this quarter. The only thing that was important to me was that the company managed to hit the whisper number at $0.27. I would have liked more, but this company usually gives you unexpected surprises. Last quarter, I was stunned by the bold 4 for 1 split announcement which created unbelievable momentum. This quarter, Dr. Jacobs laid out the roadmap to 3G (1X and HDR) with an unbelievable lack of reservation. I cannot say this enough, Dr. Jacobs was on fire tonite!! On the surface, his comments suggested that QCOM's technology would be required by the service providers for every cell phone and infrastructure base station in the next year as the US converts to 1X. It is no longer a case of what MOT and NOK can produce in their labs. The wireless companies are not going to subsidize phones for these companies when they do not support the higher voice capacity and data speeds that will be offered by QCOM's technology. There can be no doubt that these companies will have to approach QCOM to purchase their ASICS by the end of the year. The number of CDMA users will more than double this year to 120 million. The CDMA conversion in 2001 will be even more dramatic with the shift to 1X and HDR. That is when the installed base of GSM users will be converted to some variation of CDMA. Is there no question that the CDMA base will double every year for at least the next 5 years? In five years, the number of CDMA subscribers will have grown from 50 million today to 1 or 2 billion, depending how fast the GSM networks are harmonized with the global 3G standards. There will be one thing that will be dramatically different this time around for the Q. In the first phase of IS 95, QCOM met alot of resistance from other co's that competed with QCOM for infrastructure and handset contracts. Now, QCOM is the R & D / chip supplier for the whole wireless industry. Also, the wireless service co's will be mandating their chips in every piece of equipment, having watched equipment makers like NOK and MOT fail on ASIC designs for handsets and infrastructure.

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