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Technology Stocks : Qualcomm Incorporated (QCOM)
QCOM 180.90+2.1%Oct 31 9:30 AM EST

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To: Jeff Vayda who wrote (116869)4/19/2002 9:14:33 AM
From: JohnG  Read Replies (1) of 152472
 
ING Barings on NOK earnings>
1) 12/31/2002 Euro 0.84 OR $ 0.746 P/E=18.1/0.746=24.26
2) 12/31/2003 Euro 0.90 OR $ 0.801 P/E=18.1/0.801=22.6
3) 12/31/2004 Euro 0.95 Or $ 0.846 P/E=18.1/0.846=21.39

Two year growth rate=0.95/.84 epx 0.5 =1.063 or 6.3% per year
PEG=apx 4 which is very high for a company growing at 6.3% per year

CONCL: NOK is a $10 stock

Nokia 2003 & 2004 EPS Estimates Cut at ING Barings
By Eivind Luhr

London, April 19 (Bloomberg Data) -- Nokia Oyj (NOK1V FH) was reiterated ``hold'' by analyst Hendrik
Zonnenberg at ING Barings. The price target was cut from 23 euros to 21 euros.

Earnings estimates: Period Previous estimate New estimate per share (EUR) FY 2002 n.a 0.84

FY 2003 0.95 0.90

FY 2004 0.98 0.95
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