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To: Sonny McWilliams who wrote (25101)	1/6/2000 6:25:00 AM
From: William Hunt	Respond to of 27012

Sonny---the article the wireless statistics came from --- Dow Jones Newswires -- January 5, 2000 Wireless Sector Is Hit By Profit-Taking Binge By LAURA ELIZABETH POHL NEW YORK -- It's profit-taking time in the wireless sector. That's the word from analysts Wednesday as investors were busy slamming wireless technology stocks - one of last year's hottest sectors - for a second consecutive day. The sell-off was accompanied by another day of overall "softness" in the Nasdaq market, which last week soared to an all-time high only to post its worst single-day point decline Tuesday. "I'm seeing just general profit-taking," said analyst Mark Roberts of First Union Securities in San Francisco. "All the stocks were very popular in 1999. Essentially, the entire wireless technology universe is trading at very high valuations," Qualcomm Inc. (QCOM), one of last week's biggest gainers after a PaineWebber analyst issued a $1,000 price target, shed as much as 14% earlier, falling to 139. The stock has since recovered some ground amid heavy volume: 22 million shares have changed hands compared to a daily average of 25.1 million. Finland's Nokia Corp. (NOK) was recently down 4.8%, or 8 1/4, at 164 3/4. Volume was 2.5 million, on par with a daily average 3,383,201. L.M. Ericsson Telephone Co. (ERICY) shares slipped 5.4%, down 3 3/8, at 59 9/16. Volumes was normal at 3.8 million compared to a daily average 4,602,806. VoiceStream Wireless Corp. (VSTR) shares dropped 10.3%, down 12 1/2, to 109 1/2. Volume was 1.1 million, in line with a daily average 1,586,949. In Palo Alto, Calif, the profit-taking spree gripped investor Robert Rose when he sold off half his Qualcomm shares Tuesday. "I saw a chance to lock in profits, minimize any downside and not incur too big of a capital gains tax near-term," he said. At its current price, Qualcomm is trading at 150 times analyst Roberts' one dollar earnings projection for fiscal year 2000. Still, the profit-taking is bringing valuations back "in line," said CIBC World Markets analyst Dale Pfau. "People are taking some profits that maybe should have been taken in December. This is not of great concern." He already saw strength returning to stocks such as Anaren Microwave Inc. (ANEN), recently up 4%, or 1 7/8, at 49. For 2000 and beyond, wireless issues have nowhere to go but up. In 1999, worldwide wireless subscribers numbered about 400 million, more than triple 1996's 125 million, said Pfau. By 2002, Nokia predicts over 1 billion wireless users jamming the lines - that's one out of every six humans on Earth. Consolidation on the service provider front should continue over the next couple years, Pfau said, but not at the highest level. Entrenched providers like Ericcson, Nokia and Motorola Inc. (MOT) "have already staked out their territory," Pfau said. BEST WISHES BILL