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Technology Stocks : QUALCOMM-The Wireless Wonder in 1999
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To: GO*QCOM who wrote (160)3/28/2000 4:06:00 PM
From: GO*QCOM  Read Replies (1) of 343
 
RESEARCH ALERT-ABN AMRO keeps Qualcomm as hold
CHICAGO, March 28 (Reuters) - ABN AMRO on Tuesday repeated its hold recommendation on Qualcomm Inc. (NasdaqNM:QCOM - news) after the telecommunications equipment company resolved a licensing dispute with Motorola Inc. (NYSE:MOT - news).

-- Motorola and Qualcomm said on Tuesday they had agreed to drop all claims and counterclaims in a series of patent infringement lawsuits between the companies that began in March 1997. As part of the agreement, Motorola will pay Qualcomm market royalty rates for CDMA handset and infrastructure patents filed after July 1995.

-- ``We believe this agreement is a major positive step in improving the working relationship between the two companies,' analyst Kenneth Leon said in a research note.

-- ``This agreement confirms Motorola's right to sell CDMA ASIC chipsets in the merchant market without paying a royalty to Qualcomm,' he said. ``We expect that Motorola will start selling its ASICs to the merchant market in (the second half of 2000),' he said.

-- ``We view this as a long-term positive for Qualcomm,' Leon said. ``Since the higher royalty rates apply to technologies that are not yet widely deployed, the earnings impact should be minimal in 2000.'

-- Qualcomm shares were up 7-13/16 at 156-3/4. Motorola shares were up 2-1/16 at 165-3/8.
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