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

To: LBstocks who wrote (56432)	12/23/1999 1:45:00 PM
From: Rhino Ray	Respond to of 152472

Thanks LB, All anyone has to do is read the report you posted to understand why Alex Cena raised his target. And as we all know how time is compressed with this stock, a $600 price target, that could be reached next week. Alex Cena just raised price target to $600> QCOM: Kyocera Deal Positive For Fianancials; Price Target Raised Qualcomm Inc(QCOM)* Rating: 1H Salomon Smith Barney ~ December 23, 1999 12/23/99 QUALCOMM, Inc. (QCOM $485.43,1-H,Tgt $600.00) Alex M. Cena --SUMMARY:--QUALCOMM, Inc.--Telecommunications Equipment * We continue to recommend QCOM with a 1H rating * Last night QCOM announced the sale of its handset division to Kyocera * Kyocera will purchase the majority (at least 70%) of its ASIC and software needs from QCOM over the next five years * A big plus for QCOM since Kyocera was one of the few Japanese co's that was not using QCOM's ASICs. I.e. Kyocera becomes a new ASIC customer * Kyocera has a strong presence in Japan, Korea and China. All three mkts are and will continue to be the fastest growing CDMA markets in the world * Transaction is accretive by as much as $0.90 on an annual basis * We will formally change EPS ests upon completition of deal in Feb * Based on other co's w/enabling technologies, we believe QCOM should trade between 20-30x fwd revs, which would represent a 12 month target of $600 Q ROCKS ON!!