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Technology Stocks : Interdigital Communication(IDCC) -- Ignore unavailable to you. Want to Upgrade?

To: money@work who wrote (2964)	12/30/1999 5:26:00 PM
From: Tom Hua	Respond to of 5195

December 30, 1999 Dow Jones Newswires Interdigital Up 20%; Investors Seek Wireless Tech Plays By Christina Cheddar NEW YORK -- Investors looking for the next big wireless play continued to bid up shares of Interdigital Communications Corp. (IDC) Thursday. "We have worked hard to position the company as a premium provider of technology for the next generation of wireless products," Interdigital spokesman Rip Tilden said. "It may be that investors are recognizing that position," he said. Interdigital shares recently traded at 69, up 19 or 38%, on volume of 11.1 million compared with average daily volume of 1.1 million. Shares rose as high as 82, surpassing the 52-week high of 55 set a day earlier. During the day, many large-block trades were executed, showing the stock had caught the eye of institutional traders. The wireless telecommunications technology provider, which is based in King of Prussia, Pa., holds a significant portfolio of patents for next-generation wireless communication and data transfer. Investors are apparently hoping that lucrative license fees and royalties for Interdigital's intellectual property will fatten its revenue. Interdigital shares closed up 112.2% Wednesday, the same day that PaineWebber Inc. analyst Walter Piecyk initiated coverage of Qualcomm Inc. (QCOM) with a buy rating and a 12-month price target of $1,000 due to the strength of Qualcomm's patent portfolio in third-generation wireless technologies. The news boosted Qualcomm shares 31% and rallied telecom stocks. Telecom stocks Thursday were mixed, said Chase H&Q analyst Ed Snyder. He couldn't name any other stocks that were benefiting from the Qualcomm effect in the same way that Interdigital appears to be. Any number of stocks stand to benefit from the third generation of wireless technology, Snyder said. He cited giants such as Motorola Inc. (MOT) and Nokia Corp. (NOK) and lesser-known Sawtek Inc. (SAWS) as examples. Sawtek, of Apopka, Fla., makes filters that are used in Code Division Multiple-Access phone handsets. Although investors may be trying to find the next Qualcomm, analysts cautioned that no one really knows the exact shape third-generation wireless will take. "Certainly Qualcomm stands to benefit," said A.G. Edwards & Sons Inc. analyst David Heger. He also expects major telecom players such as Motorola, Nokia and L.M. Ericsson Telephone Co. (ERICY) to continue to take advantage of the future of wireless. While Nokia shares were down 0.4%, or 3/4, to 182 1/4 in recent trading, Motorola shares were up 1.5%, or 2 3/8, to 148 and Sawtek shares were up 1.6%, or 1, to 64. Ericsson shares were down 3.2%, or 2 1/16, to 63 3/8. -Christina Cheddar; Dow Jones Newswires; 201-938-5166 christina.cheddar@dowjones.com