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

To: voop who wrote (53876)	12/13/1999 6:55:00 PM
From: Ruffian	Read Replies (1) \| Respond to of 152472

Bloomberg> Qualcomm Shares Rise 6.7% Amid Optimism for Network Upgrades Qualcomm Shares Rise 6.7% Amid Optimism for Network Upgrades San Diego, Dec. 13 (Bloomberg) -- Shares of Qualcomm Inc., which have surged more than 16-fold this year, rose 6.7 percent more to a record amid optimism that the company will benefit from wireless-network upgrades to handle data traffic. Qualcomm, the developer of the world's second-most popular cell-phone technology, rose 26 1/16 to 417 9/16. It's the best- performing stock in the Standard & Poor's 500 Index in 1999. The company will be a ''clear beneficiary'' of upgrades by wireless-service providers to handle more Internet traffic on networks that use its technology, Lehman Brothers analyst Tim Luke wrote in a report to investors. Luke said his earnings estimates of 96 cents a share in the fiscal first quarter and $4.16 in fiscal 2000 ''remain conservative.'' ''In addition, Qualcomm will benefit from the surge in royalties associated with a new wave of handset upgrades,'' wrote Luke, who rates Qualcomm a ''buy.'' At a Lehman investor conference last week, Qualcomm Chief Executive Irwin Jacobs said the company is still ''on track'' to announce the sale of its handset business by the end of the year, said Luke. Separately, Qualcomm today said it reached agreements with Guangdong South Satellite Telecommunications Service Co. to provide Qualcomm's OmniTRACS services, which let companies manage fleets of vehicles, to China's two largest transportation companies. NYSE/AMEX delayed 20 min. NASDAQ delayed 15 min.