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

QCOM 171.54

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Nov 10 3:59 PM EST

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To: Ramsey Su who wrote (14782)	9/8/2001 3:43:48 PM
From: kech	Read Replies (1) of 196584

How will the market come back? Answer from this week's Barrons is "a little bit at a time" one technology at a time. And the lead off kicker is? The suggested possibility is Motorola starting to do well with CDMA handsets in North America... From Kevin Landis in the article titled "In the Bunker" a tech guru roundtable. Q: Kevin, not much is working out there. What do you see? Landis: A recovery will start to come around anecdotally. Let's say Motorola starts to do well in CDMA handsets in the U.S. At first that will seem like a one- product, one-company thing. And then you will hear some other company do well with some product in a given market. Although it will be a little while before the whole industry is growing and hitting on all cylinders and you can start picking names out of a hat again. Q: So, Kevin, you like the handset business despite its recent woes? Landis: We are starting to see some encouraging signs out of the handset market, especially in the North American CDMA-based market. Companies that are involved in that, of course, include Qualcomm and Motorola. But if you look into the guts of the handsets, you can consider companies like Alpha Industries. Q: What's that? Landis: Alpha Industries is one of the handful of RF chip suppliers that will do some of the more difficult analog functions and sensitive things. But Alpha has a nice balance right now of affordability and leverage to that market. Q: Motorola isn't really a pure play on handsets. How do you like the valuation of the entire company? Landis: Motorola is one of those names where you cringe a little bit when you hear yourself saying it because it's been sort of a chronic underperformer. And a lot of people think of it as an old, tired name. But the flip side to that is that you don't have to swallow a lofty valuation. You don't have to pay Nokia prices to buy Motorola. And at a time when Motorola might actually be taking market share from Nokia. Q: Motorola is taking market share from Nokia? Landis: It stands a good chance to do that, simply by virtue of CDMA handset exposure in North America. Q: Walter, I understand that you like Motorola, as well? Price: I think Ed Breen, who came out of the General Instrument piece of the business, is getting more control of that company. And he has always been an operator who knew how to make money. Now he's bringing that attitude to Motorola: Let's make money. Let's get our costs down. Let's be competitive. Let's not do foolish things.

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