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

To: Cooters who wrote (58787)	1/2/2000 12:43:00 AM
From: gc	Read Replies (1) \| Respond to of 152472

I guess CD millionaires or Cash-under-pillow millionaires. But, they are all made from paper too. I don't have an answer.

To: Cooters who wrote (58787)	1/2/2000 10:17:00 AM
From: Jenne	Read Replies (2) \| Respond to of 152472

Cashed in $$$$$$$$-in-the-bank millionaire? : ) QUALCOMM TO THE MOON by Kenneth Toudouze, CFA Dec. 29, 1999 Qualcomm (QCOM, $176, up 14) is determined to make believers out of all of us. A bullish call from a sellside analyst from Prudential Securities on Wednesday pushed the stock to a $120B market capitalization. The new share price is $704, 70% of the way to the published target price of $1,000. The driving reason for the bullish call is that CDMA will be in 85% of the world's cellular handsets within 10 years. This would be up from the 18% market share that exists today. Let's do some cursory arithmetic. The CDMA market currently has 35 million handsets, growing at 3 million per month. The GSM market (a competing TDMA technology - Global System for Mobile Communications or GSM is the digital transmission technique widely adopted in Europe and supported in North America for PCS) is 187 million handsets, growing at 10 million units per month. Let's also assume that cellular growth is 20% annually for the next 10 years. That means that there will be almost 1,400 million handsets in use in 2010, a penetration rate of 20% of the world population of 7 billion people. If QCOM has an 85% market share at that time, this would mean that GSM (and other technologies) would have 15% or about 200 million handsets -- less than are in place today. If such a scenario plays out, great for QCOM and great for its shareholders. We find it difficult to assume that GSM goes way out of favor, and that Nokia (NOK), Ericcson (ERICY) and Motorola (MOT) all cease making GSM handsets. What about the service providers and their entire deployed GSM infrastructure? We do not believe they will abandon it without trying to maximize their investment. We remain skeptical that other market leaders will leave the spoils to Qualcomm. We believe this market will only get more competitive as dazzling new technologies are introduced and new users are added to new worldwide systems.