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 136.33

-8.4%

3:59 PM EST

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To: Gary Walker who wrote (21)	4/17/1996 4:44:00 AM
From: Maurice Winn	of 1819

Hi Gary, No clue of earnings drop. Many people seem to have been thrown into a tailspin, but dead cat bounce back up to 34 from 31 suggests not all are scared off. I didn't know they had given an earnings indication? The guy who said Qcom might drown in shareholder legal suits must know something I don't. I hadn't thought of sueing them. I was and am still very happy with developments. Kiwis are rather naive and trusting - keeps us happy and unworried. To me, I really can't see what the fuss is about. Neither do I care if it goes down to 30 or 25. They are manufacturing in bulk with order books very busy. R&D and marketing should be high. You can't roll out multibillion dollar industries in technological spheres without big time R&D and marketing costs. Engineers and salesmen want money for results. They didn't warn anyone that I know of, neither do I think any warnings were necessary. "Watch out shareholders!! Thing are very busy and we are having to hire lots of people to do all the work! It's almost as bad as the drop in unemployment, increase in production in USA and strength of the currency". I think contrarians have lost their sense of reality. They have turned into mad lemmings. Oh no, production is up, people are happy, things are going well! Sell! Sell! Sell! What earnings? Qualcomm has always said they are going to spend all the money on development. That is exactly what I want them to do. Earnings of 11cents going down to 2cents per share is not a reduction of earnings. Maybe accountants who wouldn't know an Erlang from a Schrodinger equation think it is and they should stick to arithmetic and tax law. 2 cents x 60 million shares = $1.2 million. 11 cents x 60 million = $6.6 million. On market capitalisation of $1.8 billion. That is a reduction from zero to zero, which is what we want. We don't want money going out leading to cash flow crunch, but equal flow in and out is fine. $1.8bn should return net $200 million. $1m or $6m no difference. Nice to see you here again Gary. Don't worry, your money is in good hands [I hope].

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