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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Mannie who wrote (8108)	10/15/2000 2:22:50 PM
From: T L Comiskey	Respond to of 65232

Posted by Ruff on the Q thread........ To: Craig Schilling who started this subject From: Ruffian Sunday, Oct 15, 2000 12:35 PM ET Reply # of 83632 QCOM update Research from Lehman Bros. by: lovlee_1999 10/15/00 11:46 am Msg: 285941 of 285948 Sorry I cannot post link of this research as it is in Adobe format, but I will attempt to highlight pertinent points as follows: 1 - Lehman believes solid fiscal year 2000 in Oct. earnings in line with consensus expecations 2 - looks for Sept. Q to be $0.24 and $1.02 for full year - weak chipset sales of approx 12.0 - 12.5 mil to be offset by strong licensing revenues and lower expenses. 3 - Estimates QCOM will report approx $660 mil and $2.8 bil in revenues for fiscal 4th Q and full year, respectively 4 - While conditions in Korea are uncertain for chip set sales, are encouraged that the # of new subscribers increased in Sept. to 25.97 mil and up from 25.83 mil in August which is first uptick in subscriber growth since subsidy ban in May. 5 - While Korea may continue to remain lackluster, a strong flow of 3G licensing deals could give QCOM increased visibility into 4th Quarter results. Believes QCOM is on track to reach December quarter EPS of $0.28 6 - Into 2001, believes QCOM will remain well positioned as the dominant chipset supplier in CDMA arena. Maintains revenus and EPS estimates of $4.1 bil and $1.30 - $1.35 remains conservative as QCOM continues to benefit from expansion of global markets and 3G evolution. 7 - Notes 1X CDMA 2000 rollout in Korea is on track, following launch last week by SK Telecom. 8 - Looking forward sees a # of positive catalysts for company and possible announcement on WCDMA chipsets over the next several weeks. 9 - Believes QCOM will report progress in China with China Unicom/Great Wall potentially making a decision in the next several months and company believes SK Telecom is likely to select WCDMA for its 3G standard. Rival operators LG and KT Freetel may favor CDMA 2000 when 3G decisions are announced in November 10 - Progress in discussions with Nokia remain positive. BTW, Lehman gives QCOM a Buy -1 rating! This information was posted in Lehman research on QCOM dated 10/12/00. Again, I would post the link but this research site will not allow me to do so as this is subscriber information and not publically accessible. I hope this gives some positive indication to QCOM longs! Good luck to all. Best regards, Lov

To: Mannie who wrote (8108)	10/15/2000 6:57:04 PM
From: Jim Willie CB	Read Replies (2) \| Respond to of 65232

need help to recall name of Law, tia Moore's Law -- processing power doubles every 18 months (pertains to PC cpu mhz, e.g. Pentium) Say's Law -- supply creates its own demand (plethora of fiberoptic bandwidth encourages new uses) ??? Law -- fiberoptic bandwidth doubles every 9 months WHOSE LAW ? please correct any above stated law thanks, Jim p.s. hey, nice to see Mariners whip Yankee buttock they even got to impervious reliever Nelson phenomenal play by shortstop ARod