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Pastimes : The New Qualcomm - write what you like thread. -- Ignore unavailable to you. Want to Upgrade?

To: Peter J Hudson who wrote (686)	10/24/1999 8:29:00 AM
From: qdog	Respond to of 12253

Ah Dr. Frezza!!! A blast from the past. I wonder what Jihad he is conducting today? Maybe he doesn't think it's possible to use hydrogen to produce electricity. Probably thinks the whole moon program was conducted in Area 51. Maybe he into politics these days, like supporting Lyndon Larouche. Even after the earnings tripled QCOM didn't have a PE ratio consistant with a value stock. The P/E was consistent with the growth of earnings, more so than most stocks. The statement above describes your change in perception of the same company. Management hasn't changed, earnings have always been questionable and Q's future is more certain now than it was in 1995. We know that CDMA is a commercial success. What has changed is PE, for one. Two is the requirements under the agreements with the ITU. Mind you it's non- binding, but they are to make available their IPR's on a non discriminatory and fair basis to all comers. Now this should be a real exercise in futility, but what will be the reaction of alot of countries to say QCOM not abiding by that agreement? Better yet, what will be the reaction of operators and manufacturer's? Governments can't agree on seating arrangements most of the time, but the "Diplomacy" of individual corporations is very cutthroat. Alliances can change very quickly. I know you worry about MOT's feelings, but I don't think it matters if they are pimping CDMAone. 3G is the key. QCOM will do fine on CDMAone growth in the markets they have already captured for the next couple of years. The only way QCOM's current valuation is justified is if they have an IPR lock on all mobile modes of CDMA. That is the bet. Seeing how I started the Rotomola, Silked Suited, Tassled Lizard Loafer Fun Club, I do respect them. It's never a good thing to pissoff Muther Rotomola. It's not a surprise that The Heroes of Schaumburg were one, slow to respond to the countersuit, and two their ultimate response. That tells this battled scared pup that those mongrels are going to play hardball as well. Again, QCOM doesn't own the IPR's of the W-CDMA. The brinkmanship of QCOM and Ericsson before the ITU damn near cause neither CDMA standard to be approved. The ITU would not accept anything that had questions about the IPR, nor would they be an arbitrator of it. They simply would exclude both from consideration. Don't mistake Ericsson's capitulation as some sort of admission that QCOM "own's" W-CDMA patent's. All this being said, I am very uncomfortable with the momo guys chasing QCOM stock price around. I don't care what kind of furry animal it is called I know the future of any high tech company is not a sure thing, but using the same fundamental approach I always have QCOM still looks good to me. Momentum investors are a cancer. I always have a problem with a style that bandwagon jumps more than a kangaroo in heat.....Hmm another game with a furry animal. I'm going to forget about stocks and just write books about investment style using furry animals. I do my homework. Checking out what C.R. is saying is often part of it. I'd never listen to a four legged dog that scratch behind it's own ears and licks it's..................