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Technology Stocks : Qualcomm-News Only

QCOM 165.13

+1.1%

Nov 26 3:59 PM EST

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To: Clarksterh who wrote (92)	5/18/1999 8:53:00 AM
From: DaveMG	Read Replies (1) of 426

Q preannounces, responding to fears about slowing Korean growth: QUALCOMM Announces Strong Demand for CDMA Chipsets and Phones - Rapid Growth of CDMA Contributes to Strong Royalties - SAN DIEGO, May 18 /PRNewswire/ -- QUALCOMM Incorporated (Nasdaq: QCOM - news) today announced that demand for its Code Division Multiple Access (CDMA) chipsets and phones in the third fiscal quarter is stronger than the second fiscal quarter ended March 27, 1999. Also, actual royalty reports received to date from the Company's licensees for the second fiscal quarter exceed the accrual for the corresponding royalties accrued in the second fiscal quarter. Based on current performance in each of its business units, the Company expects that third fiscal quarter performance will meet or exceed current analyst estimates, excluding non-recurring charges. ''We are pleased that CDMA networks have grown to over 30 million subscribers in 27 nations,'' said Richard Sulpizio, president and chief operating officer of QUALCOMM. ''This rapid growth has led to an increase in demand for CDMA products as reflected in the increased product shipments by ourselves and our licensees.''

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