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

To: w molloy who wrote (4482)	12/23/1999 9:07:00 AM
From: llwk7051@aol.com	Respond to of 13582

w molloy, Excerpt from Merrill Lynch, Some investors may be disappointed in the transaction price, the identity of the acquirer, or the complexity of the transaction. We believe that the key component of this transaction is Kyocera?s commitment to purchase a minimum amount of ASICs from QUALCOMM. This commitment if broader than what we were anticipating, and should have a positive impact on EPS. We estimate that it could add $0.20-0.25 to EPS in fiscal 2000 and $0.35-0.40 in fiscal 2001. ú With the sale of the handset division, 70% of the company?s revenues should come from semiconductors and royalties, and we have previously argued that this stock should begin to trade more like a communications semiconductor company. The average P/E of this group is now at 110-times calendar 2000 EPS estimates. Coupled with the potential to increase EPS estimates once this transaction closes, we are maintaining our Accumulate intermediate term opinion. (M. Ching/T. Long)

To: w molloy who wrote (4482)	12/23/1999 9:10:00 AM
From: Jeff Vayda	Respond to of 13582

w molly: How do you come to the conclusion The QCP guys are now KYO employees in all but name. NOK is only just around the corner and up the road. I expect quite a few will jump ship. ? I happen to know of any number of 'contract' employees on both US coasts and nothing could be farther from the truth. It is a bunch of Qualcomm employees dedicated to one 3 year contract, period. Given the minds in place at the division and the difficulty of developing new ones, I agree with this structure. "Go Brain Go." This goes to the heart of what Qualcomm is. Intellectual Property Rights The idea is the tough part, any number of concerns can perform on the execution. I say keep the people who develop the ideas. Where there is one, another will surely follow. (CDMA, HDR, G*, ASICs, and on and on) Nokia is stuck in today, Qualcomm has and still is focused on what can be tomorrow. I know which I prefer. Jeff Vayda

To: w molloy who wrote (4482)	12/23/1999 9:33:00 AM
From: Ramsey Su	Read Replies (1) \| Respond to of 13582

w molloy, the fix is in. Alex Cena, Michael Ching etc are all saying it is a good deal. Too bad Maria B is not on CNBC this morning. We need her eternal optimism in everything to help pump. The market is in a manic phase. There are only so many "greater fools" out there. It is very important for us to attract them here and not let them go to yhoo, amzn, akam etc. The other thread does a much better job than this one in making sure that every piece of news is spun in the most positive light possible and QC will go to 600 by 10:00 am. So I suggest to you, as an old timer, that you keep all your negative thoughts to yourself and contribute to the BIG pump. Ramsey - tongue cheek etc