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Technology Stocks : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?

To: samim anbarcioglu who wrote (94142)	2/21/2001 4:05:39 PM
From: califjk	Respond to of 152472

I have often wondered where Clearstation got that 547 P.E. It makes a buyer unable to compare his bananas from the apple......jk

To: samim anbarcioglu who wrote (94142)	2/21/2001 4:27:05 PM
From: pcstel	Read Replies (3) \| Respond to of 152472

"I don't think there is a lack of understanding of pe here on this board, we are just pissed off at cnbc, yahoo, clearstation etc which have wrong numbers for QCOM earnings ( 10 - 13 cents), and as a result a wrong pe, 580 or some silly thing like that. " P/E OF 580 is correct.. Counting the Globalstar write off.. P/E based on Pro Forma earnings is in the 60's... You were happy to accept the "high margin revenues" of the Globalstar phones calculated into your earnings and P/E in FY Q2 and Q3 of last year. Yet, now that those earnings really became "non-earnings" via the Vendor Finance arrangement.. You suddenly want to discard the earnings without showing the results on your P/E ratio.. That's not how it works.. It's a prime example of "financial engineering!" All of those "earnings" that were garnished from that 580 million in booked revenues from Globalstar were welcomed when they were a positive on the P/E.. And if they were not there in FY00 Q3.. Qualcomm would have probably missed their numbers. Now that they have to be subtracted out of the picture.. No one wants to "own up to them". If you don't believe me.. Go back and look at QWS margins in FY 00 Q3.. (Over 40% margins).. They shipped 15,000 Omnitracs and 31,000 G* phones.. In the latest report.. QWS has margins of much less than 10%.. 10,000 Omnitracs were shipped and only 2,000 G* phones.. Go Figure!! PCSTEL