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Technology Stocks : Vari-L (VARL) -- Ignore unavailable to you. Want to Upgrade?

To: pat mudge who wrote (1564)	12/6/1999 7:28:00 PM
From: uel_Dave	Read Replies (2) \| Respond to of 2702

Pat, As you pointed out Vari-L anticipates a strong 4th quarter and some contracts will be announced, however some of Nokia's meeting last Friday with the analysts must have had some impact on VARL. Especially that they forecast worldwide use to be 1 billion by the end of 2002 instead of 2003 Message 12204366 NEW YORK (CBS.MW) -- Shares of wireless phone makers Nokia, Motorola and Ericcson swept higher Monday after a bullish Nokia meeting with analysts Friday in which the company painted a picture of exploding demand for wireless phones and an acceleration in revenue growth. In a meeting with Wall Street analysts Friday, Nokia said it now expects worldwide use of mobile phones to reach 1 billion by the end of 2002, rather than at the end of 2003, as it had previously forecast. As a result, Nokia said it expects revenue to grow 30 percent to 40 percent in 2000, above its former forecast of 25 percent to 35 percent. That prompted a slew of brokerages to raise earnings estimates and stock price targets on Nokia, the world's largest maker of wireless phones. At Salomon Smith Barney, for instance, analyst Alex Zena raised 2000 estimates to $2.90 a share from $2.75 and 2001 estimates to $3.75 from $3.42. He raised his price target to $225. Nokia continues to stay in front of the competition and has launched more mobile phones this year than it did last year," Cena wrote to clients. "Nokia is also well positioned to drive growth from wireless data as well." Shares of Nokia (NOK: news, msgs) surged 13 3/4 to 175 3/4. The encouraging view of Nokia and the mobile phone industry also boosted the stocks of key rivals. Motorola (MOT: news, msgs) ballooned 9 5/8 to 133 5/8, while Ericsson swelled 4 5/16 to 59 5/16. Shares of Qualcomm rose 10 3/8 to 394 3/4. In Motorola's case, Banc of America Securities analyst Mark McKechnie told clients: "Nokia's recent bullish analyst meeting has increased our confidence in our 2000 estimate of $3.20 a share for Motorola." He upgraded his price target to $180 from $130.