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Technology Stocks : Qualcomm Incorporated (QCOM)
QCOM 159.62-3.9%3:59 PM EST
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To: Skeeter Bug who wrote (68508)3/4/2000 12:04:00 PM
From: marginmike  Read Replies (2) of 152472
 
"qpr production was hacked in a serious way. you don't lay off 40% or so of your work force and not reduce production. the REAL loss to qcom is in asic sales.'

Qcom is a fabless semi manufacturer, the Jobs they cut were for strictly new product development(in handsets). They also didnt account for a royalty on QPE phones. Now that they are being sold outside Q they will recieve a royalty as well as chip sales income. As you know IPR $ is 95% profit they were not booking. That is why the sale is accreative to earnings. The Managemet made all of this quite clear in Earnings CC.

As for your opinion that chip business is being hurt, it is in complete contradiction of what QCOM MGMT has publicly disclosed. In the Analyst meeting two weeks ago QCOm stated they were gaining ASIC market share, and that MOT is their biggest growing customer and NOK was in Negotiations as a new customer. I would also point out that KYO is now a ASIC customer wherein they were not before. I would also be curious to why KYO has no interest in making phones? QPE is at full capacity and the phones are being sold as QCOM phones still. Their sales have been maintained as evidenced by Radio Shacks good numbers.
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