Roger's 1998 Short Picks Message Board

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Strategies & Market Trends : Roger's 1998 Short Picks

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To: Rick Slemmer who wrote (387)	1/8/1998 12:25:00 PM
From: Dan Ross	Read Replies (2) of 18691

I worked as an ANALyst this summer following emerging telecommunications companies/technologies....QCOM was a company that I followed.....Personally, you may pick up some points....Last time the stock only slid to 45....42 during the summer....The P/E is irrelevant given the growth rate that the company is attaining.....LOOK AT PROJECTIONS....They may come in a hair under them for the year but IMHO this is a risky short position....Their EPS this Q should be very good....Royalties, however, are going to get hurt this Q since they are denominated based on the selling price in the manufacturers country...Royalties from Korea will be negatively impacted...However, worldwide deployment of CDMA is accelerating quickly.....There is also the possibility that they will start to use accrual accounting for royalties rather than a cash basis...This would add .20 this Q to their EPS...a one time benefit.... Just some points I am thinking about going long on the stock now....I sold most at 65 and then my last at 59,5....all were purchased under 46... Dan Ross

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