Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 171.54

+0.4%

Nov 10 3:59 PM EST

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To: H. Bradley Toland, Jr. who wrote (125833)	12/4/2002 5:05:00 PM
From: pyslent	Read Replies (1) of 152472

"you'll likely make another 5 to 10 fold on an invest in Qualcomm today held over the next 8 to 10 years." As a QCOM long, I'd appreciate seeing your rationale for this statement. My personal belief has been that QCOM should be worth $100-150/sh once the WCDMA takes off. What kind of earnings do you expect in 10 years to justify a share price of 200-400? How many handsets/CDMA devices is that? Roughly speaking, QCOM currently generates 1 penny in earnings for every million handsets sold. For an eps of $20, that requires sales of 2 billion CDMA devices annually in a sustained fashion. That seems overly optimistic, even if the problems with WCDMA can be resolved, as we all hope. Just wondering what you consider to be a "likely" forecast. Thanks in advance. I certainly hope you are right <ggg>.

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