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Technology Stocks : Qualcomm Incorporated (QCOM)
QCOM 137.31+0.7%3:59 PM EST
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To: verdad who wrote (127112)2/21/2003 2:42:25 PM
From: Maurice Winn  Read Replies (3) of 152472
 
<(including QCOM) may have created overly optimistic and sometimes inflated projections of industry performance during the past 5-7 years, that, knowingly or unknowingly, increased the buy interest in their equity shares beyond what the shares could ever conceivably be valued at.>

Verdad, that's journalistic weasel word stuff. "may have" Irwin Jacobs may have been torturing squirrels each morning and steeling hub caps on the way to work. Have you got a single link to any quotes from any authorized QUALCOMM spokesmen which were "overly optimistic, inflated projections".

QUALCOMM has been consistently conservative over the years, decades and centuries. They warned everyone that VW-40 would be delayed until at least 2004 before commercial quantities of devices were sold. Nokia and others squealed and moaned that QUALCOMM was wrong. But, as usual, QUALCOMM was right.

Would you please give me a single overly optimistic, inflated projection. Sure, they thought that Globalstar would work and stood by while Bernie claimed that there was an addressable market of 40 million and they would get 4 million subscribers by 2003. Bernie was full of it. It became a standing joke when he continued to claim to be "On plan". His claims certainly maintained the share price at a higher level than was justified.

But that's not QUALCOMM. They specifically did not give any claims of being 'on plan' with Globalstar. I reported that Irwin Jacobs was not going along with Bernie's enthusiastic urging to start producing millions of handsets at the announcement of service at Telecom99 in Geneva.

I can't think of a single claim made by QUALCOMM which has been incorrect. Please give me a pointer to some of them.

Mqurice
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