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To: Sully- who wrote (23899)	6/28/2000 12:42:00 PM
From: Sully-	Respond to of 35685

URL: cbs.marketwatch.com Qualcomm shares recover a bit Korean fears fade as broader market rallies By Bill Clifford & Michael Baron, CBS.MarketWatch.com Last Update: 12:37 PM ET Jun 28, 2000 NewsWatch Latest headlines SAN DIEGO (CBS.MW) - Qualcomm shares recovered in early afternoon trading Wednesday after falling early on a warning of likely weakness in fourth quarter Korean chipset sales. The San Diego, Calif., wireless telecommunications firm?s stock was off 1 5/16 at 62 3/8 in recent trading. The shares traded as low as 57 1/2 after the news spooked investors, but took back gains supported by a rally in the broader market. Earlier Wednesday Qualcomm said South Korean customers might be ordering fewer chipsets for mobile phones in the fiscal fourth quarter because the elimination of Korean subsidies is expected to result in declining phone sales. ?Based on recent feedback from South Korean customers and operators, the company may experience modestly lower order levels for its chipsets in the fourth quarter of fiscal 2000,? said Qualcomm said in a statement. The company (QCOM: news, msgs) didn?t offer a forecast for Korean chipset orders and how much they might fall. But Qualcomm said it did not anticipate the developments would cut into earnings in the fiscal third quarter, which are to be announced July 19 along with forecasts for the fourth quarter. Qualcomm said it would consider introducing carrier marketing programs in South Korea and increasing export activity to other overseas markets to offset potential declines in Korean orders. -------------------------------------------------------------------------------- Bill Clifford is Tokyo bureau chief of CBS.MarketWatch.com. Michael Baron is a reporter for CBS.MarketWatch.com based in New York.