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Technology Stocks : Qualcomm Moderated Thread - please read rules before posting
QCOM 179.02+3.7%Nov 5 3:59 PM EST
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To: JohnG who wrote (6099)1/11/2001 2:36:55 PM
From: Caxton Rhodes   of 196499
 
MSDW: Qualcomm (QCOM-$73-O) Expanding CDMA 2000 1X Networks Louis Gerhardy

Wireless service provider Bell Mobility is expected to announce today a major network expansion and deployment of 3G wireless services based on QCOM's CDMA2000 1X technology. Bell Mobility had 2.2M subscribers as of 9/30/2000.

We continue to expect a very strong 1X product cycle for QCOM in 2001 and QCOM should enjoy a superior market share. 1X networks should be the first in the world to offer 3rd generation (3G) wireless services and enhanced voice capacity.

Service providers we expect to be operating 1X networks by the end of the year include SK Telecom and KT Freetel in S. Korea, Sprint PCS and Verizon in N. America, Telstra in Australia, Vesper in Brazil, KDDI in Japan, and Mobicom in Malaysia.

We reiterate our Outperform rating and 12-month price target of $100. Strong C4Q subscriber additions at CDMA service providers in N. America and Japan should more than offset investor concerns about subscriber additions in S. Korea in the month of Dec. In addition, numerous extensions or new licensing agreements should result in strong licensing income, another positive in our opinion.
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