CDMA, Qualcomm, [Hong Kong, Korea, LA] THE MARKET TEST! Message Board

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Technology Stocks : CDMA, Qualcomm, [Hong Kong, Korea, LA] THE MARKET TEST!

QCOM 173.43

-0.8%

Dec 29 3:59 PM EST

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To: Maurice Winn who wrote (1181)	11/21/1996 9:08:00 AM
From: Ramsey Su	of 1819

Maurice, some more thoughts on the year-end report.... At yesterday's closing price of 41, QCOM is trading at 3.5X 1996FY sales. Anyone care to look up how many times sales INTC or MSFT are trading at? Not that I am trying to compare these companies but it is hard for me to believe that QCOM should be trading at a lower X sales rate than INTC and MSFT. What is QCOM's sales going to be for FY 1997? Current market cap is about $3billion and back log alone is $1.7billion. Should QCOM be trading at less than 2X sales next yr? The report also stated that as of end of September, there are only 400,000 CDMA subscribers. How many are being added this qtr? It seems like handsets may be the restraining factor. If QCOM/SONY is the only supplier, at 200,000 per month, there should be 1 million subscriber by the end of the yr. New facility coming on line this qtr, shooting for 400 cell sites per month when on line. Recent analysts reports are rather ho-hum. What are they seeing that I am not? Ramsey

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