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To: JRI who wrote (11680)	3/19/2001 5:09:58 PM
From: Boplicity	Read Replies (1) of 13572

Qualcomm Rises 16% on Optimism CEO Will Give Positive Forecast San Diego, March 19 (Bloomberg) -- Qualcomm Inc. shares rose 16 percent amid optimism that Chief Executive Irwin Jacobs will reiterate the mobile-phone chipmaker's positive forecasts when he speaks at an industry conference tomorrow, analysts said. The shares climbed $7.88 to $58.19 in the biggest percentage rise since Jan. 3. The stock has dropped 29 percent so far this year. Jacobs is scheduled to speak at the Cellular Telecommunications and Internet Association conference in Las Vegas. At analyst and shareholder meetings three weeks ago, Jacobs repeated Qualcomm's January forecast that demand for its mobile- phone chips was outstripping supply, and that the company would ship more semiconductors than in the prior quarter. ``People want to own some Qualcomm ahead of that meeting,'' said Mark McKechnie, an analyst at Banc of America Securities who has a ``buy'' rating on Qualcomm. ``You can expect Irwin to say something positive tomorrow.'' Also today, Verizon Wireless, the largest U.S. mobile-phone company, agreed to buy $5 billion of gear from Lucent Technologies Inc. for new wireless services. The equipment uses Qualcomm chips and patents. Analysts said the order wasn't a surprise. A spokeswoman for San Diego-based Qualcomm didn't immediately return calls for comment.

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