Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 154.12

-3.3%

3:59 PM EST

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To: Keith Feral who wrote (67340)	2/17/2000 11:38:00 PM
From: Ruffian	Read Replies (2) of 152472

Snyder is @ it again. LoL!> Sawtek falls on insider selling rumors NEW YORK, Feb 17 (Reuters) - Shares of Sawtek Inc. (NasdaqNM:SAWS - news) dropped more than 25 percent on Thursday on reports that Qualcomm Inc. (NasdaqNM:QCOM - news) was introducing a product similar to one the wireless communications parts maker produces. Sawtek's stock fell 20-13/16 to 61-3/16 as one of the most actively traded issues on the Nasdaq stock market. More than 9.7 million shares traded hands, nearly 10 times as much as its average daily volume of 1.0 million. Chase H&Q analyst Ed Snyder said the product that Qualcomm announced, which converts radio signals into a form that can be used by wireless devices in one step, is old technology that other companies produce as well. ''Its compelling but it does not overwhelm me,'' Snyder said in a telephone interview. Its just one other person adding to this heap." Snyder, who said the Sawtek sell-off was ''overdone'' added that the product does not perform as well as products that use two-steps to convert the signal. Sawtek Chief Executive Gary Monetti said he was only aware of a Qualcomm chipset that works with Sawtek technology. Representatives at Qualcomm were not immediately available to comment. Reports also surfaced that Sawtek executives were selling off large amounts of shares of their stock. But Monetti said only shares the company was selling had been previously announced in a four million share offering, which included shares offered by the Sawtek Employee Stock Ownership and 401(k) plan, which was completed in late January.

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