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

To: goin HOG wild who wrote (49378)	11/12/1999 9:30:00 AM
From: GO*QCOM	Read Replies (1) \| Respond to of 152472

11-12-99 Nasdag Soars Yesterday due to tech stocks QUALCOMM,Conexant HEADLINES, WALL STREET JOURNAL and Top Funds Latch onto Cisco and QUALCOMM, HEADLINES in INVESTORS BUSINESS DAILY.

To: goin HOG wild who wrote (49378)	11/12/1999 9:31:00 AM
From: Voltaire	Respond to of 152472

They're beginning to get it! Damn, those guys are brilliant,geez! V

To: goin HOG wild who wrote (49378)	11/12/1999 9:38:00 AM
From: goin HOG wild	Respond to of 152472

November 12, 1999 J.P. MORGAN SECURITIES INC. - EQUITY RESEARCH GREGORY GEILING (1-212) 648-3320 Brantley Thompson (1-212) 648-7883 QUALCOMM (BUY) RAISING PRICE TARGET FROM $315 TO $460 Fiscal Earnings Per Share P/E QCOM 52-Wk ------------------ ------- MkCap 11/11 Rge 9/99 9/00 9/01 1Q/00 1Q/99 9/00E 9/01E Yld ($MM) ---- ----- ----- ----- ----- ----- ----- ------ ------ --- ----- $345.50 $346-25 $2.46A $4.05E $5.60E $0.95E $0.33A 85.3 61.7 NA 67,115 Calendar Earnings Per Share P/E QCOM 52-Wk ------------------ ----- MkCap 11/11 Rge 12/98 12/99 12/00 4Q/99 4Q/98 12/00E 12/01E Yld ($MM) ---- ----- ----- ----- ----- ----- ----- ------ ------ --- ----- $345.50 $346-25 0.96A $3.01E $4.43E $0.95E $0.33A 114.8 78.0 NA 67,115 We are raising our price target on QUALCOMM to $460 from $315. Our new price target represents applying an 80 multiple to our conservative calendar 2001 earnings estimate of $5.75. While we believe that EPS growth for QUALCOMM over the next three to five years will likely track in the range of 35-45% - we believe our 2000 EPS estimate of $4.05 (65% growth over 1999) remains extremely conservative. The next near-term catalyst that we will be focusing on for QUALCOMM will be the announcement of the sale of its handset business. We continue to believe that this announcement will be made before the end of the year. We believe that there are currently a number of parties interested in QCOM's handset business - including some of the current leading players in the handset market. As a result, the final transaction is likely to be structured in a very positive manner for QUALCOMM - likely fueling its CDMA chip and royalty business segments for the next several years. We reiterate our BUY rating on QUALCOMM. First Call Corporation, a Thomson Financial company. All rights reserved. 888.558.2500