The New Qualcomm - a S&P500 company Message Board

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

QCOM 180.90

+2.1%

Oct 31 9:30 AM EST

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To: engineer who wrote (7823)	3/23/2000 12:10:00 AM
From: LBstocks	Read Replies (1) of 13582

Pete Peterson's (Prudential) take on the MOT/NOK 1XTREME announcement> QUALCOMM Incorporated QCOM - NASDAQ $134 5/8 News Pete Peterson 415-274-7983 pete_peterson@prusec.com Nazima Bahadon 415-274-4442 nazima_bahadon@prusec.com Tim Daubenspeck 415-274-4420 tim_daubenspeck@prusec.com Prudential Securities Prudential Volpe Technology Group March 22, 2000 EPS 1999A 2000E 2001E Investment Opinion STRONG BUY Q1 $0.08 $0.25A $0.35 Risk Level Price Target High $183 Q2 $0.10 $0.25 $0.35 52-Week Price Range $200-$9 15/16 Q3 $0.19 $0.28 $0.47 Shares Out. (million) 791.6 Q4 $0.23 $0.31 $0.45 Market Cap. (million) $106,569.2 Year (Sep) $0.60 $1.11 $1.63 3-Yr. Est. EPS Growth (EEG) 35% P/E N/M N/M 82.6x First Call Revs. (M) $3,937 $3,999 $5,041 ________________________________________________________________________________ QCOM: Motorola and Nokia Play Catch Up-Proposing Open Std. - Motorola and Nokia play catch up - proposing open standard for next generation CDMA chip - Technology would be compatible with CDMA IS-95 A, B and 1X - We'll believe it when we see it-QUALCOMM's chipset commercialization is at least a year ahead of its competitors' - Activity signifies the importance of CDMA as part of the next generation technology - First of many battles we expect to see as battle for CDMA and 3G heats up - The announcement seems to be timed with the 3GPP2 meeting - Reaffirm our STRONG BUY rating on QCOM Motorola (MOT-$158 15/16-ACCUMULATE) and Nokia (NOK-$211 1/2-STRONG BUY) announced that they are teaming up to promote an open standard for next generation CDMA technology with the 1XTREME technology. This technology would be compatible with CDMA IS-95 A, B and 1X. This announcement signifies the importance of CDMA as part of the next generation technology. We view this activity as Nokia and Motorola playing catch up to QUALCOMM's chipsets which are at least a year ahead in commercialization. QUALCOMM's chipset roadmap and features are proven and more advanced with the successful demonstration of its HDR technology last year. Although Nokia and Motorola currently have licensing rights for IS-95 CDMA from QUALCOMM, it does not include third-generation (3G) rights. We expect that the ownership rights of the 1XTREME technology to be contested by QUALCOMM. We believe that a renegotiation with QUALCOMM would be required for 3G rights. QUALCOMM already has a headstart with its 1X chipsets and had a successful HDR product demonstration. We believe that QUALCOMM is leading the developments in CDMA chipsets - forming the most complete integrated CDMA chipset so far. We reiterate our positive expectations for QUALCOMM and reiterate our STRONG BUY rating on QCOM.

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