The New Qualcomm - a S&P500 company Message Board

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

QCOM 174.01

-0.3%

Nov 14 9:30 AM EST

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To: LBstocks who wrote (5962)	1/31/2000 2:47:00 PM
From: Ruffian	Read Replies (1) of 13582

Interesting ZDnet Take> Qiao Xing Universal Telephone (Nasdaq: XING), Qualcomm (Nasdaq: QCOM) After a month-long downturn, Qualcomm may have been due for today's recovery. The stock got a boost today from news that it's close to a deal with China's second largest telephone service company, China United Telecommunications. But I suspect another catalyst came in the form of Qiao Xing's announcement of tax exemptions for the next six years in China. Income taxes in the first six months of last year took $1.13 million -- 12 cents per share or about 27 percent of pre-tax income -- from the bottom line of Qiao Xing, the second largest Chinese phone maker. Investors see Qiao Xing, which has CDMA licenses, as good way to play the expansion of wireless technology in China. Presumably anything that's good for Qiao Xing is good CDMA patent czar Qualcomm. Conversely, Qualcomm's potential deal with China United may have pushed Qiao Xing rising shares even higher than they would have gone on the tax deal alone. 22GO

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