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Technology Stocks : Qualcomm Incorporated (QCOM)
QCOM 176.67+1.6%Nov 12 3:59 PM EST
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To: brian h who wrote (13733)8/14/1998 1:09:00 PM
From: tero kuittinen  Read Replies (4) of 152472
 
Hmmm... you sound bitter. I would think that it is obvious that Sony is not a genuine growth stock. This company is a sprawling, unfocused, low-margin, commoditized mess. And that's just the upside. Nokia is incredibly focused: 80% of the sales come from mobile gear. That's why Nokia is showing 70% profit growth - in comparison Sony, Philips, Motorola and Siemens do look fat and fatigued. Since Nokia is going to post about 60% handset sales growth and 40% network sales growth in the third quarter it should be a no-brainer that it has room for growth.

Nokia was the only company in the world that had the guts and vision to bet the entire corporation on mobile phone boom in the late eighties. They sold off everything else and jumped from the cliff, certain that their wings were strong enough to carry them. In contrast, companies like Sony hedged their bets, made some hesitant, half-assed investments in mobile R&D - and are now losing out in a big way. Qualcomm is in many ways an innovative, promising little outfit... but they're a day late and a dollar short.

GE's CEO, one of the most admired business leaders in the world has this rule that if some GE division is not number one or number two in its field it gets the axe. There's a lot sense in that approach. Nokia is now number one in phones and number two in networks - companies vying for positions between 4-7 are in for a rough ride.

Tero



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