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

QCOM 162.01

+1.5%

1:27 PM EST

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To: Ramsey Su who started this subject	7/9/2001 1:34:47 PM
From: Cooters	of 196718

From SSB July 9, 2001 SUMMARY * Data points on SK Telecom's 1X rollout are in: SKT has 370K total 1X subs adding 170K in June, up from 100K net adds in May & targets 1.9 1X subs by end of 2001. * Our thesis remains unchanged that 1X in South Korea is one of several positive catalysts for QCOM's stock. * We believe SK's 1X sub growth is likely to accelerate given (1) the end of the gov't-imposed 50% market share cap; (2) SK's aggressive 2H01 marketing (expenses estimated to be up 150% vs. 1H01); & (3) a new color screen phone from Samsung due out this month. * Given SK's run-rate to date, its 1.9 mn 1X year-end sub target appears achievable. * We maintain our 1H rating on QCOM and $75 price target.

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