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

To: puzzlecraft who wrote (2930)	11/3/1999 7:18:00 PM
From: Tony S.	Read Replies (3) \| Respond to of 13582

re long-term Q valuation: On the most basic level, if CDMA proves over the long run to be a globally dominant technology (not money in the bank, perhaps, but one reasonable reading of current trends) it would seem to me the Q franchise is in an even more advantageous position regarding wireless than Microsoft is in computing. Whereas M effectively imposes a tax on every computer sold, Q reaps royalties not only on unit sales, but also on infrastructure additions and on each end-user use. Its as if M got a royalty every time Intel upgraded a fab or anyone in the world turned on their PC. Obviously the metaphor only goes so far, but when I try to calculate Q's long-term valuation, it's the model I keep returning to. I have the sense this analysis is too simplistic (i.e., primitive, stupid?) and would appreciate critical discussion.