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Technology Stocks : Qualcomm Incorporated (QCOM)
QCOM 155.82-1.3%Jan 23 9:30 AM EST
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To: Clarksterh who wrote (8003)2/5/1998 9:03:00 PM
From: Ramsey Su  Read Replies (4) of 152472
 
Clark,

"...few other companies have anywhere near as big an exposure to Korea or SEA..."

That is exactly what I am trying to figure out. NN announced earlier this week that their TDM stuff is what killed them. Also pointed out that the market for TDM is not N America but rather Asia and S America. I don't know NN enough to determine whether it is a product problem or market problem. In either case, that appears to be what drove their estimates from 26 cents to 7 cents. They got hit pretty hard.

How about AMAT? How much exposure do they have? Indirectly, MU is going to be hit hard if Korea starts dumping chips. It would be difficult to cry chipdumping when the cost is reduced over there vs Utah.

The multiplier effect can also come into play. Lets say Northwest, with many routes to Asia, decides to cut back. A few airlines decide to push out Boeing deliveries. A couple of satellite communication projects are cancelled for now. Trade deficit numbers got all screwed up. IMF bail out packages for Indo, Thailand and Korea insufficient. Japan bank problem and finance ministry scandal drags on.....

Don't you think that earnings for some of the bellweathers may require revisions? QCOM alone cannot move the market but if IBM, INTC, ORCL, HWP, MOT or any of the dozen or so big boys sneezes, look out.

Ramsey
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