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Technology Stocks : Qualcomm Incorporated (QCOM)
QCOM 168.09+1.8%Nov 28 9:30 AM EST
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To: marginmike who wrote (20890)1/6/1999 4:41:00 PM
From: Ruffian  Read Replies (1) of 152472
 
News On The Q>

QUALCOMM (QCOM) 59 3/8 +2 1/4:develops, manufactures, markets, licenses and operates communication systems and products based on its proprietary digital wireless technologies. Stock up along with rest of wireless group in response to takeover war for Airtouch (ATI). Unlike Nextel (NXTL) and some of the others, QCOM actually making money. Company projected to earn $2.58 in FY99 and $3.38 in FY00, resulting in deeply discounted p/e multiples of 23.0x and 17.6x. Corresponding PEGs of 0.72 and 0.55 also very attractive given industry growth potential. One factor holding back QCOM is concern company's technology won't be accepted in Europe, where European Telecommunications Standards Institute has recommended that the European Union adopt a single standard backed by Ericsson and Nokia. However, US in negotiations to make sure European market remains open to competing technologies. Any success on this front would lead to huge spike in stock. QCOM also working with Microsoft on WirelessKnowledge. Venture formed to build a platform for providing greater Internet access to wireless handsets. Commercial availability expected early to mid-1999. Technically, QCOM bumping up against upper end of long-term trading range. Decisive break of 60 on good volume would target move to the 71-73 area over the next 6- to 9-months.
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