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To: Labrador who wrote (5624)	6/18/2000 8:33:00 PM
From: Puck	Read Replies (1) \| Respond to of 34857

QCOM will receive the same royalty on a per unit basis for any 3G base station ERICY sells regardless of its mode of transmission. As for estimates, would suggest you ask the good citizens of the QCOM board. There is a great deal of dispute about this point with diverging groups of analysts. The greatest optimist is some guy at, I think, Paine Webber(name of Pieczyk?) who set a one year price target of $250 at the turn of the year. With the Korean situation, the China situation, the Globalstar situation, the LSI Logic situation, the now expected protracted worldwide build-out of 3G situation, I guess that any projection of serious growth in QCOM's earnings resulting from these fronts cannot be estimated. From CBS Marketwatch on LSI assaulting QCOM in the chipset wars (this will cut into QCOM revenues, no doubt about that): cbs.marketwatch.com LSI to fight Qualcomm in CDMA arena By Michael Baron, CBS.MarketWatch.com Last Update: 3:30 PM ET Jun 15, 2000 NewsWatch Latest headlines NEW YORK (CBS.MW) -- Challenging Qualcomm on its own turf, LSI Logic expects to introduce handsets based on its own code multiple division access (CDMA) technology in the fourth quarter, according to John Daane, an executive vice president at the semiconductor manufacturer. Daane said LSI (LSI: news, msgs) sees CDMA, where it will be Qualcomm?s lone competitor, as a high growth area. He estimated the company?s CDMA sales could total several hundred million dollars annually in a year or two. Daane was speaking at a Bear Stearns Technology Conference here. ?Qualcomm (QCOM: news, msgs) is a bit arrogant and their product isn?t completely integrated,? Daane said. ?We?re finding that customers want competition and that is helping us get design wins.? Daane added that second quarter bookings have been tremendous due to booming demand for communications equipment, especially from broadband and optical networking firms. LSI now expects communications chips to account for 50 percent of its revenue in the third quarter, ahead of its previous expectation that this would occur by year-end.