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Technology Stocks : Qualcomm Incorporated (QCOM)
QCOM 168.09+1.8%Nov 28 9:30 AM EST
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To: James C. Mc Gowan who wrote (73837)6/14/2000 5:24:00 PM
From: cfoe  Read Replies (2) of 152472
 
I agree with your sense that this was a setup. Brings to mind a few questions and comments.

> Was this a schedule BS event that involved other companies, or an ad hoc one for QCOm only?
> I don't think we can blame Thornley for this. His answers to both the G* and Korea questions were the same as had been given before. What I wonder is where was the BS analyst a couple of weeks ago when the G* comment was first made? Or last week when the Korea issue was brought up?
> Imagine what the reaction would have been if Thornley had declined to appear? Wouldn't the negative spin-meisters have had a field day with that?
> To emphasize how one-sided this show was destined to be, imagine if "good" questions had been asked. Two examples:

BS: How many ASICs will you ship in the current quarter?
T: As we said, more than we shipped in Q1-00.
The spin - no improvement in ASIC outlook.

BS: What about earnings for Q3?
T: Our guidance is 27 cents.
The spin - Earnings guidance is flat.

Last week engineer posted a history of the FUD attacks QCOM and its long-term shareholders have had to endure over the years. I fully believe we will look back at this period as just another in a long list "buying opportunities."

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