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Strategies & Market Trends : Gorilla and King Portfolio Candidates -- Ignore unavailable to you. Want to Upgrade?

To: Jacob Snyder who wrote (27534)	7/9/2000 10:10:05 AM
From: Labrador	Read Replies (2) \| Respond to of 54805

It is my understanding that no royalty arrangement has been reached w/r/t to WCMDA -- publicly NTT DoCoMo has stated they have no arrangement with QCOM for the use of their vital patents. Accordingly, QCOM says that the royalty rate will be the same, while NTT is attempting to posture a reduced royalty rate by saying that they and others have patents which make WCDMA work. Accordingly, it is my take that NTT wants the overall royalty rate to remain the same to the public, while split the royalties between all developing parties --which obviously if this occurred QCOM's take would be a reduced rate. NTT [and presumably others] are looking for cooperation and are trying to force QCOM to take a reduced rate to keep the public's price [vis-a-vis CMDA royalties] the same for 3G phones as with 2G CMDA phones. It is my personal take that QCOM is in the catbird's seat -- although I am not an attorney, I don't see how NTT and others can muscle QCOM into accepting less, and WCMDA cannot be deployed without a QCOM license. [by the way, I think that the move the WCMDA is basically to force a reduced royalty rate to QCOM, while permitting others to share in royalties as well. Further, and probably more important, is to give others the opportunity to produce CMDA chips and stiffle the lead that QCOM has in this area. It has yet to be seen who will be the WCDMA chip leader, assuming that WCDMA is actually deployed, but with CMDA2000, QCOM is the obvious leader and would likely retain the 90%+ sales figures.] opinionated post, obviously. Interested in comments.

To: Jacob Snyder who wrote (27534)	7/9/2000 11:14:22 AM
From: Teri Stephenson	Read Replies (1) \| Respond to of 54805

Hi Jacob, You wrote: 1. I listened to the CEO interview today, and it sounds great. But it bothers me a lot, that I can not find anyone else (other than QCOM shareholders or management) who is confirming what he said in the interview. Specifically, no one else is saying that QCOM's IP content (and hence future royalties) is the same for all CDMA variants. The overwhelming consensus of the analysts and business press, is that the shift to a WCDMA standard means significantly less future profits for QCOM. Most of the WCDMA contracts that will be announced over the next year will overlay existing TDMA and GSM networks. To participate in the chipset business(crucial), QCOM will need TDMA/GSM IPR. I believe QCOM will have to sacrifice some of their CDMA royalties received(to exchange IPR) if they want to participate in the WCDMA chipset business. While they might receive the same royalty, they will need to pay royalties as well. They need to deal. Result: lower net royalties with WCDMA Teri (willing to be corrected if I have understood this incorrectly)

To: Jacob Snyder who wrote (27534)	7/9/2000 4:15:19 PM
From: tekboy	Read Replies (2) \| Respond to of 54805

JS, I've been following your discussion of your investing strategy on "Buy Range," and I'm intrigued. Most GGer's are LTB&H tortoise types, while a few favor more active moves in and out of their favorites. You seem to combine the conservative, valuation-conscious demeanor of the tortoises with the market-timing aspirations of the traders and momos. If it is not too intrusive, I'm curious as to how successful you have been on balance in your investments over the years, and whether you have, in fact, found it possible to use valuation metrics to time the market successfully. tekboy/Ares@enquiringmindswanttoknow.com