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Technology Stocks : Qualcomm Moderated Thread - please read rules before posting

QCOM 175.07

+2.6%

Dec 3 3:59 PM EST

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To: Ramsey Su who started this subject	1/4/2001 3:17:32 PM
From: foundation	Read Replies (4) of 196825

"The brokerage cited figures from one of Korea's major telephone operators, SK Telecom Co. Ltd. , as the basis for that tally.." ---------- Qualcomm shares down on concern over Korea growth SAN FRANCISCO, Jan 4 (Reuters) - Shares in wireless communications standard provider Qualcomm Inc. (NasdaqNM:QCOM - news) fell by more than 8 percent on Thursday after a leading brokerage said mobile phone subscriptions are slowing in South Korea, a key market for the company. The stock was down 8 percent to $77-5/32 in afternoon trading on the Nasdaq, on volume of more than 15.8 million shares. Qualcomm shares have been trending lower since reaching an early December high of $106-1/4 but are holding above a 52-week low of $51-1/2 from July. Credit Suisse First Boston analyst Marc Cabi said in a research note released Thursday that South Korean mobile phone subscribers increased by 164,000 in December, a marked slowdown from the gains of 555,000 and 417,000 recorded in October November. The brokerage cited figures from one of Korea's major telephone operators, SK Telecom Co. Ltd. , as the basis for that tally, saying the slower sales were due in part to a government investigation into illegal handset subsidies allegedly paid by telephone companies to new subscribers in previous months. Credit Suisse First Boston projected that South Korea will represent about 10 percent of Qualcomm's sales this year for mobile phones using its proprietary CDMA technology. ``We believe the slow market conditions and maturity of this market can continue to limit upside and put pressure on high-end estimates,'' Cabi wrote, maintaining his rating of Qualcomm as a ``hold.'' biz.yahoo.com

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