Jim -
Intersting numbers from Strategis Group. Now, let's assume they are correct (and for they record, they have consistantly underestimated this growth), and that by the year 2002, Asia Pacific has 57.6 Million CDMA subs.
That's 57.6 Million CDMA phones, which at a 4% royalty fetch $16 per phone to QCOM, or $921,600,000 over the next four years. That's $230,400,000 per year, or $3.29 per share per year, just for royalties on handsets in Asia. This royalty stream alone (just Asia, and the Startegis handset estimate) should justify a stock price of $65 today! |
