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

To: Boplicity who wrote (48160)	11/5/1999 10:28:00 PM
From: MileHigh	Read Replies (2) \| Respond to of 152472

I'm starting to think GSTRF is going to be a big participant in all this new technology. Any thoughts? MileHigh

To: Boplicity who wrote (48160)	11/6/1999 6:04:00 AM
From: LABMAN	Respond to of 152472

Fri, 05 Nov 1999, 11:03pm EST Qualcomm Rises to Another Record on Optimism New Products Will Boost Sales By Scott Lanman Qualcomm Rises 12% on Optimism for New Products (Update3) (Adds IPO date in 2nd paragraph.) San Diego, Nov. 5 (Bloomberg) -- Shares of Qualcomm Inc., leading the Standard & Poor's 500 Index this year, rose 12 percent more on optimism that new products will boost revenue and earnings growth. The shares climbed 30 7/16 to 294 3/8, their third record in three days. The stock has surged more than 1,000 percent this year, gaining 32 percent this week. A $10,000 investment in Qualcomm at its initial public offering in December 1991 would be worth about $750,000 today. Qualcomm, which developed the world's second-most popular cell-phone technology, is set to introduce new products as shipments of its wireless phones and chips are forecast to reach records. The company Tuesday reported that its fiscal fourth- quarter profit quadrupled and it set a 4-for-1 stock split. ''The company's got other initiatives that we think are potentially very significant,'' said analyst Brian Modoff of Deutsche Banc Alex. Brown. Modoff reiterated his ''strong buy'' rating on Qualcomm. He expects the shares to rise to 320 within a year, up from a previous target of 250. New Qualcomm products for high-speed wireless data- transmission and digital motion pictures could boost revenue and earnings, Modoff said. The new wireless-data technology is much faster than previously expected, and could cost less than competing standards like cable modems and digital subscriber line. Mark Roberts, an analyst at First Union Securities, said most investors came away from a Motorola Inc. conference call today with the impression that Motorola's new cell-phone chips ''are not going to be seriously competitive'' with Qualcomm's. In addition, big institutional investors that have overlooked Qualcomm this year are finally snapping up shares, said Roberts, who rates Qualcomm ''strong buy.''