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Technology Stocks : The New Qualcomm - a S&P500 company -- Ignore unavailable to you. Want to Upgrade?

To: engineer who wrote (578)	8/5/1999 10:12:00 AM
From: JohnG	Respond to of 13582

Engineer. Thanks so much for your insight yesterday into the royalty rates for MOT and Lucent. It really relieves some pressure to eliminate those "black cloud" possibilities that we paranoid investors and QCOM supporters secretly harbor. JohnG

To: engineer who wrote (578)	8/5/1999 10:29:00 AM
From: Art Bechhoefer	Read Replies (2) \| Respond to of 13582

Thanks for these valuable insights on the early innovations for CDMA. I stand corrected. My understanding, however, was NOT that Interdigital got CDMA technology when it purchased Linkabit but that CDMA evolved out of work being done by Linkabit under various government contracts. My source was a math professor in the San Diego area. One of the unique aspects of QCOM from the very beginning was its development of a profitable operation that could generate cash flow to support research on CDMA. That was one of the key factors in my decision to buy the stock. In so many other technology companies, there is no source of needed cash except from issuing more stock or floating loans, both of which strategies may be hard on existing shareholders. QCOM was different from most other new companies in this respect. It should be noted that there are very few companies which have been able to finance as much of their growth from internal funds as has QUALCOMM. And it has always been perplexing to me that the numbers of analysts who follow QCOM, most of whom have better training in financial matters than in technology, still fail to see the import of this major factor benefitting shareholders.