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

QCOM 172.24

+0.9%

12:52 PM EST

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To: quartersawyer who wrote (22985)	5/27/2002 9:39:16 AM
From: Art Bechhoefer	Read Replies (2) of 196811

Verizon seems to be the biggest disappointment in the slow upgrading to 1X now taking place. If there is any single factor that would drag down the growth rate of QCOM earnings, it is the Verizon bureaucratic approach to wireless. In fact, what Verizon is doing reminds me of Kodak and its reluctance to move from conventional film to digital. Everything Kodak does is an attempt to save its conventional film business from digital, which has become far cheaper for the average amateur than conventional film. Because conventional film, processing, and printing is still the major revenue source at Kodak, the company chooses a digital strategy that is designed simply to add value to conventional film (scanning photos, sending email, etc.). Verizon is doing the same thing with its wired phone service--trying to maintain that service's profitability to the detriment of wireless, which would replace a great deal of its wired customer base if implemented fully. I agree with the near term earnings projections of QCOM, which, if it were not for the Verizon bureaucrats, would be grossly understated. Art

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