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

QCOM 173.87

+1.9%

2:27 PM EST

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To: walterenergy who wrote (22900)	5/24/2002 3:49:39 PM
From: Art Bechhoefer	Read Replies (2) of 196812

No doubt the views expressed in your report of the analyst meeting were held by many who attended the meeting. But others with whom I spoke were far more optimistic. I'll have some more details later on, but for the moment my overall view is that the details of what QCOM is doing in each of its businesses are the key to a much, much larger earnings growth, notwithstanding the current guidance. About 300 people attended the meeting, which went on the better part of five hours, with a short break for lunch. The materials exhibited were done very professionally. They provided a CD of the key parts of the presentation for each attendee. Most of the 300 people attending were on the young side (typically between 25 and 40). I doubt that there were more than a half dozen above 60, and I may have been older than anyone else there, except for Irwin himself. The demonstrations of new features in the handsets were intriguing, especially the improved sound quality in the 6000 series chips, the ability to display video and several examples of BREW enabled software in use in Japan and elsewhere in Asia. The ease of taking BREW applications and modifying them for a particular market was truly astounding. I don't think many people are zeroing in on the impact of these BREW applications, and the cashflow generated both for the software designer and for QUALCOMM itself, based on total usage minutes. Seeing actual demonstrations should have impressed a lot of the analysts, but, given the price of the shares subsequent to the meeting, I doubt that many looked farther than the immediate guidance given by QCOM. Art

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