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To: Dealer who wrote (21170)6/1/2000 2:20:00 PM
From: Dealer  Read Replies (2) | Respond to of 35685
 
Good News For Qualcomm

Unknown Comtex Source - June 01, 2000 13:04
New York, Jun 01, 2000 (123Jump via COMTEX) -- It has been a positive day for tech stocks so far. The Nasdaq is currently up 148 points. The chip sector looks strong led by Motorola (MOT), up 5 1/8, and Micron Technologies (MU), up 3 3/8. Shares of Yahoo(YHOO) are up over 7% following word that they are in the process of purchasing Internet music service company MyPlay.

Conflicting signals emerged today concerning the fate of Qualcomm's (QCOM) CDMA cellular phone technology in China. The company's share price has suffered since it was reported earlier this week that Unicom (UCM) officials in Hong Kong said that plans to use current generation CDMA technology had been shelved. Today however, the China Daily newspaper, citing an unnamed spokesman at China Unicom, reported that Unicom's plans to build a CDMA network were "still on track." Shares in Qualcomm rose 3 1/2 to 69 7/8 this morning while shares in Unicom dropped 13/16 to 40 7/8.

Sony, the world's No.2 consumer electronics maker, announced today it will spend $1.1 billion (125 billion yen) to boost output of the chips used in its PlayStation 2 home video-game console. Sony plans to produce more of the game units than originally expected. Sony's game unit intends to boost monthly chip production by more than 150% by next June. The decision to increase chip production reflects Sony's determination to avoid the kinds of component shortages that have affected a number of their competitors. Sony's share price has dropped 7/16 to 90 3/4.

Shares of InSilicon (INSN) soared 2 21/32, or 40.87%, to 9 5/32, following the introduction of its JVX accelerator product. The developer of communications technologies for systems-on-a-chip said the JVX accelerator increases the performance of Java-based systems by "tenfold." The company said the product is designed specifically for wireless Internet products such as cellular phones, advanced pagers, personal display assistants and smartcards.

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