To: candide- who wrote (3466 ) 2/11/2000 9:31:00 AM From: Dealer Respond to of 35685
TOP FUNDS MOVE INTO QUALCOMM, Cisco, Nortel <This from Investors Business Daily, Friday, February 11, 2000 by Leo Fasciocco BUY SIDE: The nation's top funds continued to be heavy buyers of technology stocks in the telecom, computer and semiconductor sectors late last year. A dominant theme driving those stocks is the expansion of computer networking systems and wireless services. Semiconductor firms that are key suppliers are also benefiting. Qualcomm, well-known as the second-largest supplier of cell phones in the U.S., remained the key buy of the top funds. IBD found 69 leading funds buying the stock in the most recent period. Qualcomm is one of the great winners of the past 12 months, having soared from 8 to a peak of 200, an astounding 24 fold move. since peaking Jan 3, the stock has slipped into a well-deserved correction. It is now six weeks old. The stock is around 136. Qualcomm plans to sell its digital cell-phone business to Japan's Kyoceracorp. Qualcomm will continue to make CDMA (code-division multiple access) chipsets and to license the technology. The company is focusing more on High Data Rate, a new wireless data technology. It also makes the Eudora E-mail software. Analysts expect a 75% increase in Qualcomm's net for the fiscal year ending Sept. 30, according to First Call. the see $1.05 a share, up from 60 cents a year ago. The stock has 99 relative Price Strength and 99 earnings Per share Rating--both are the highest possible--from IBD. Top funds at the Putman, Fidelity and Alger groups are large holders. IBD (Investor's Business Daily) This Qualcomm section (complete) was taken from a larger article on page B2 of todays paper. Dealer