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Technology Stocks : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?

To: engineer who wrote (33598)	6/29/1999 2:27:00 PM
From: Ruffian	Read Replies (2) \| Respond to of 152472

From a good "Guy"> Very Amusing.... by: Explorer_at_large (36/M/Southwest) 23642 of 23643 Merrill Lynch's Michael Ching today raised his earnings estimates for Qualcomm to $2.15 for 1999 and $3.05 for 2000. His report shows the company trading at forty-four times forward earnings (so much for the price-earnings ratios of the ill-informed). But, here's the really funny part. The third bullet of his report cites, and I quote, "Subscriber growth in the U.S, KOREA and Japan are fueling stronger than expected royalty payments." Now am I losing my mind, or weren't the shorts claiming that Korean subscriber growth was beset by gloom and doom? Wasn't this the basis of a bearish article in the Wall Street a couple of months back? Remember, of course, that Qualcomm management suggested that this was not the case. Guess who was telling the truth (AGAIN)???