The New Qualcomm - a S&P500 company Message Board

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

QCOM 174.01

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Nov 14 9:30 AM EST

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To: Caxton Rhodes who wrote (13062)	6/23/2000 2:51:00 PM
From: Eric L	Read Replies (1) of 13582

>> *Trading Frenzy Over Nokia-Qualcomm Rumor* wirelessweek.com Wireless Week news@2direct Friday, June 23, 2 p.m. ET Kristy Bassuener Rumors that Nokia will buy Qualcomm put traders in a lather late Thursday and early today. The buying- and-selling bonanza sent Qualcomm?s stock to a weekly high of 74 ó earlier today. Nokia shares didn't fare as well among the speculation, falling about 2 percent to a weekly low of 54 5/8 as of 10:30 a.m. EDT. This wouldn't be the first insider talk of the No.1 worldwide handset maker buying out CDMA proselytizer Qualcomm gossip of the coupling began earlier this year in financial chat rooms but eventually subsided. So far analysts have been doubtful that the transaction will ever fly. One problem is Qualcomm's CDMA patent and chipset focus: Will its current clients be comfortable with fattening the coffers of a competitor? Not likely. "To imagine that any other handset maker to be reliant on Nokia doesn?t make a heck of a lot of sense," says Jim Andrew, vice president at Renaissance Strategy. "My understanding is that there are some ongoing discussions between Nokia and Qualcomm. My guess is that there are people misinterpreting what they?re talking about: Likely deals but not an M&A deal." Also, Nokia has climbed to the top of the handset ladder largely with GSM and TDMA phones, adding more question marks to the mix. But Nokia has also embraced CDMA. On an Internet broadcast this morning Chase H&Q analyst Ed Snyder doubted a merger would happen, pointing out that there are much cheaper ways for Nokia to develop its CDMA portfolio. Nokia did announce today that it will develop gear for Korean markets with terminal manufacturer Telson Electronics, furthering its CDMA holdings. "We're committed to our own CDMA chipset design," says Nokia spokeswoman Megan Matthews. She would not comment on the market rumor, and Qualcomm representatives did not return calls by deadline. << - Eric -

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