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Technology Stocks : Qualcomm Moderated Thread - please read rules before posting
QCOM 154.53-0.8%Jan 26 3:59 PM EST
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To: Ramsey Su who started this subject10/4/2001 12:38:02 PM
From: Kent Rattey  Read Replies (3) of 197381
 
12:31pm 10/04/01 Analysts on Nextel's IDEN decision (NXTL, MOT, QCOM) By Tomi Kilgore
Analyst Kevin Roe at Merrill Lynch believes Nextel's (NXTL) decision to enhance the iDEN wireless network (see 10:15 item), rather than deploy a 1X CDMA network, stems from its deteriorating balance sheet. "We continue to believe tht iDEN is a 'stranded technology,' and we do not believe that this upgrade is a feasible way for Nextel to keep up with its competitors," Roe said in a note to clients. The stock is now up $1.74, or 24 percent, to $9.10. Volume is 34.7 million shares, which is already roughly triple the daily average. Salomon Smith Barney's T.C. Robillard believes Nextel's decision is a "mild positive" for Motorola (MOT) -- the sole infrastructure supplier for iDEN -- but said it would not impact his financial estimates for the company. The stock is adding 78 cents, or 5.1 percent, to $16.13. Robillard added that Nextel's announcement is likely to be a "psychological negative" for Qualcomm (QCOM) , but said he would view any resulting weakness in the stock as a buying opportunity. The stock is slipping 46 cents to $44.35. His Qualcomm estimates did not reflect any activity from Nextel.
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