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

To: LindyBill who wrote (37662)	8/4/1999 6:29:00 PM
From: Wyätt Gwyön	Respond to of 152472

TRJ sounds off on H&Q> HQ's credibilitiy w/ regard to QCOM by: The_Rich_Janitor 29375 of 29376 IMO, HQ has spent a year trying to supress QCOM stock price. If you read their past reports you will find that their QCOM reports are usually an excuse to pump Motorola. My comments from the last HQ report on QCOM are below. Apparent that my assumption that HQ has an agenda to push QCOM stock price down is warrented. Here were my comments based on their last review: HQ's report is a joke. There is no consistency or logic behind any of these numbers. Might I add that it is only fair and also important to judge HQ (Zimits) on their past analysis. This will help us determine the validity of this July 20th report. <<<<<On January 20, 1999 Hambrecht & Quist analyst Eric Zimits issued a 2 page Company Report on QUALCOMM Inc. Report highlights: 'The rating was downgraded to HOLD based on increased competition, uncertainty in infrastructure sales and continuing unprofitability in the infrastructure segment. The company reported first quarter EPS of $0.65. Results were hampered by a decline in gross margins. The 1999 EPS estimate remained unchanged at $2.60.>>>>> Hmmmm, so HQ saw no quarterly growth in 1999 (Good Call?) <<<<On May 18, 1999 Hambrecht & Quist analyst Eric Zimits issued a 2 page Company Report on QUALCOMM Inc. Report highlights: 'A MARKET PERFORM rating was maintained to reflect an expected tough 2H99. The 1999 and 2000 EPS estimates remained unchanged at $0.60 and $2.35, respectively. The company is expected to generate earnings growth of 20% over the next three years>>>>> 1) Hmmmm, so even after reporting a 40% increase in quarterly EPS, they calculate earnings growth of only 20% over a 3 years period. - Need a calculator? 2) 1999 EPS estimates remained unchanged? In this latest report he maintains that 2000 EPS growth will be $2.70. I try and have an objective view when I read these reports, but it is very hard to make sense out of any of these numbers or conclusions. In fact, his analysis must be confusing to anyone who understands the wireless market. My conclusions: 1) HQ does in fact have a hidden agenda. They can't be this stupid. 2) HQ does not understand the dynamics of wireless or moreover, CDMA growth 3) Since none of the numbers are consistent with anything currently or previously printed by HQ needs a calculator and a tape recorder: "Note to self - I said 1999 YEARLY EPS of .60 last report, I can't say I estimated QUARTERLY EPS of .63 on my next report" READ THE FIRST SENTENCE OF THE NEW REPORT - They actually wrote that 4) Oh heak, I just don't have the hours to keep going...................... - TRJ Better buy more of this underpriced Gorilla NOW!!!

To: LindyBill who wrote (37662)	8/4/1999 7:07:00 PM
From: Maurice Winn	Read Replies (2) \| Respond to of 152472

Thanks Lindy, I'm glad to see it was self-explanatory. Engineer tells me he has no idea what I'm writing, so I have to try to be clear. You are right, it's a LOT of fun to join in the spirit of the thread, call people names and generally let rip. Trouble is, I used up all my insults in one go and now I've got an empty magazine. If you come up with any good ones, let me know. Did you think I got my apostrophe right? Meanwhile, what do you think? Crash time? beta.siliconinvestor.com Mqurice