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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 175.25

+0.6%

Dec 19 9:30 AM EST

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To: waitwatchwander who wrote (6244)	12/12/1997 12:12:00 PM
From: Jim Lurgio	Read Replies (1) of 152472

NEW YORK, Dec 12 (Reuters) - Schroder & Co said it downgraded Qualcomm Inc <QCOM.O> to "perform in line" from outperform. Schroder trimmed the fiscal 1998 earnings estimate to $2.04 a share from $2.30 a share, said associate Stephan Kim. Kim said Schroder expects Qualcomm to see lower royalty and licensing fees from Korean manufacturers due to the severe drop in the South Korean won. said Korea is the largest market for Code Division Multiple Access (CDMA) technology developed by Qualcomm. Korean telephone manufacturers pay Qualcomm royalty payments when its CDMA technology is used. said the royalty payments are not a big percentage of Qualcomm's total revenues, but a drop in payments would fall directly to the bottom line. Qualcomm, one of the most active Nasdaq issues, lost 2-3/4 to 56-5/8 in Friday morning trading. 11:32 12-12-97

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