Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 176.67

+1.6%

3:59 PM EST

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To: DaveMG who wrote (21670)	1/20/1999 12:18:00 PM
From: Clarksterh	Read Replies (3) of 152472

DMG - Apparently higher volumes at lower prices resulted in flat roy rates Well, to be blunt I don't care whether the revenue is, for example, flat because they are selling 10x as many units at 1/10th the price or whether they are selling 1/3rd as many units at 3x the price. The result is what matters and 20% license growth (which is admittedly a guess) is not too good given the very large subscriber growth etc (remember Nokia did 90% handset revenue growth.). I am not trying to slam Qualcomm management since they are indeed getting bit by both the 3g debate and slowed growth in developing companies, but the growth is anemic enough that we shouldn't be too optimistic about near term price appreciation (e.g. 20% growth at '99 ERS of 3.00 is $60.00). And although I am not slamming management, I do think that they have some work to do to get Qualcomm back on track. Clark

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