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

To: Jeffry K. Smith who wrote (62895)	1/18/2000 2:16:00 PM
From: Ruffian	Respond to of 152472

Morningstar-Q> longdong_63 01/18/2000 01:52 pm EST Many Had Qualms about Owning Qualcomm by Russ Kinnel \| Qualcomm QCOM won Stock of the Year honors from Morningstar.com readers for obvious reasons. It gained 2,619% in 1999. The company is making a killing by licensing its Code Division Multiple Access (CDMA) technology, which may become the standard for wireless phones. (Premium members can check out funds analyst Kunal Kapoor's analysis for the details.) The stock was a great example of last year's dominance by technology and telecom stocks. You hear about Qualcomm so much now that you might be surprised to learn that very few funds owned it at the beginning of 1999. Only 18 funds had 1% or more of assets in Qualcomm then. Today, that number has grown nearly tenfold. Equally surprising is that the few that did own it weren't the superaggressive funds like Van Wagoner Emerging Growth VWEGXor PBHG Limited PBLDX. Instead, it was growth-at-a-reasonable-price funds such as Oppenheimer Global Growth and Income OPGIX and Wayne Hummer Growth WHGRX, as well as a couple of value funds, such as Excelsior Value and Restructuring UMBIX, and some utilities funds. If you've looked at our fourth-quarter style box universe, you know that the wild momentum cowboys cleaned up and the tame GARP funds ate their dust, so these folks have to take their victories where they can get them. GARP managers hope to get stocks before the momentum set latches on to them and drives them higher, but it doesn't always work that way. Those early Qualcomm fans are sticking with the stock, too. Although many have sold some shares to keep the stock from dominating their funds, nearly all of those who held the stock at the start of 1999 still hold it. That should provide some solace to nervous Qualcomm holders who aren't sure whether they should take the money and run. Tom Rowland, the manager of Wayne Hummer Growth, has allowed his Qualcomm stake to grow to 15% of his fund's assets. He hopes that inflows will allow him to water down that weighting without actually selling the stock and realizing taxable gains. Talk about getting in early: The fund has owned the stock since 1996 when Rowland was wowed by Qualcomm's technology and the prospect that it was ready for a commercial roll-out. Today, he says the stock still has legs as the next-generation CDMA systems should be a big hit.

To: Jeffry K. Smith who wrote (62895)	1/18/2000 2:29:00 PM
From: pheilman_	Respond to of 152472

This is a link to a chart of calls and puts on QCOM impristine.com If it is accurate, there should be desperate measures taken to bring Q down. But, these could only be temporary measures, what happens after the forcing is over?