Qualcomm Shares Expected to Make Comeback, Business Week Says
San Diego, Sept. 14 (Bloomberg) -- Qualcomm Inc., a developer of wireless-telephone technology, is poised for a comeback after seeing its shares drop 64 percent since the first of the year, Business Week reported in its ``Inside Wall Street'' column, citing money manager Graham Tanaka.
Tanaka, who heads Tanaka Capital Management, said there are positive signs for Qualcomm's code division multiple access, or CDMA, technology. China has decided to use CDMA for wireless phones, and sales of wireless phones in Korea, which uses CDMA, have increased.
Also, in 2001, the San Diego-based company will introduce its next version of CDMA technology, which will provide full Internet access. Tanaka told the magazine that he expects Qualcomm shares, which closed today at 62.63, to hit 150 in three years.
(BW 9/25 p.201)
Sep/14/2000 19:23 ET
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