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Technology Stocks : QUALCOMM-The Wireless Wonder in 1999
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To: GO*QCOM who wrote (144)3/20/2000 9:55:00 AM
From: GO*QCOM  Read Replies (1) of 343
 
San Francisco--Mar 17--PaineWebber analyst Walter
Piecyk issued comments on Qualcomm Friday after the
South Korean Ministry of Information and
Communication reported CDMA subscriber growth
figures. Piecyk has a buy rating on Qualcomm shares
and a $250 price target:

"The South Korean Ministry of Information and
Communication reported strong (CDMA) subscriber
growth in South Korea over the first two months of 2000,
reflecting accelerating growth in an important royalty and
ASIC market for Qualcomm. "

"1.18 million subscribers were added in February alone,
resulting in a total South Korean subscriber base which
has already topped our March 31-ending estimate before
March had begun. "

"An expected slowdown in the South Korean market may
have contributed to recent concerns on Qualcomm, in
addition to model revisions by analysts who had initially
not properly accounted for the sale of its handset
business."

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