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

QCOM 170.47

-4.8%

11:46 AM EST

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To: Jeff Vayda who wrote (8594)	3/15/2001 7:03:56 AM
From: Jeff Vayda	Read Replies (1) of 196520

Nokia chops forecast Mobile phone maker cuts first-quarter growth forecast, but shares jump March 15, 2001: 6:14 a.m. ET (http://cnnfn.cnn.com/index.html) Here comes the other shoe…and of course the resultant conclusion: Nokia sucks therefore sell Qualcomm....and buy Nokia? Dont think I'll ever figure out those Europeans! Jeff Vayda LONDON (CNN) - Nokia chopped its first-quarter revenue growth forecast on Thursday and lowered its estimate of worldwide handset demand. The world's biggest mobile phone handset maker lowered its first-quarter sales growth expectations to about 20 percent from an earlier estimate of 25 to 35 percent. Nokia also cut its 2001 worldwide handset sales forecast to 450 million-to-500 million, down from its previous estimate in January of 500 million-to-550 million phones. The Finnish firm kept its first quarter earnings per share target of 0.19 ($0.17). The announcement follows recent gloomy predictions from the firm's chief rivals, Sweden's Ericsson and U.S. firm Motorola (MOT: Research, Estimates). Just like its competitors Nokia blamed the slowing U.S. economy for the industry's problems. Shares in Nokia rose 7.5 percent to 26.40 in Helsinki after the announcement.

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