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Strategies & Market Trends : Trade/Invest with Options Jerry a Point & Figure Chartist

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To: Jerry Olson who wrote (3444)	9/5/2001 3:02:46 PM
From: Frederick Langford	Read Replies (1) of 5893

From SSB, SUMMARY * This AM QCOM held upbeat pres at SSB's Tech 2001. Co expects to ship 4 mn 1X chips in F4Q01 & increased phone chip ships over next several qtrs as BTS chip ships (a 1-2 qtr leading indicator) have shown increasing volumes. * Co expects cont'd strong ramp in 1XRTT driven by: S. Korea take-up; carriers preloading ntwks w/ 1X phones prior to launch to receive immediate capacity improvements; and, sub-$100 1X handsets (expected within next 2-3 quarters). * QCOM reiterated its timeframe for multimode WCDMA chipsets for samplings for mid-2002 with handsets available 2-3 quarters after. * China Unicom continues to deploy its 2G ntwk in several cities & is planning its CDMA launch mktg efforts. QCOM also indicated that ZTE (Chinese CDMA licensee) has begun conducting 3G 1X trials in a few Chinese cities. * We reiterate 1H rating & would use current weakness as a buying opportunity. HOSTS UBEAT PRESENTATION AT SSB'S TECHNOLOGY 2001 CONFERENCE IN NYC This morning QCOM held an upbeat presentation at our Tech Conference. QUALCOMM provided an overview of the CDMA market and highlighted the progress of 3G 1XRTT to date, its multimode ASIC product roadmap and gave an update on CDMA in China. The company expects to ship 4 million 1X chips in F4Q01. QUALCOMM expects to see increasing handset chip shipments over the next several quarters as BTS (base station) chip shipments (a 1-2 quarter leading indicator) have shown increasing volumes. Furthermore, QUALCOMM expects to see continued strong ramp in 1XRTT driven by: S. Korea take-up; carriers preloading their networks with 1X phones prior to network launch in order to receive immediate capacity improvements upon their 1X launches; and sub-$100 1X handsets (expected within next 2-3 quarters). QUALCOMM reiterated its timeframe for multimode WCDMA chipsets for samplings for mid-2002 with handsets available 2-3 quarters after. China Unicom continues to deploy its network in several cities and has begun to plan its marketing efforts for its CDMA launch. The company also indicated that ZTE (a Chinese CDMA licensee) has begun conducting 1X trials in a few Chinese cities. We reiterate our 1H rating and would use current weakness as a buying opportunity.

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