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Technology Stocks : Interdigital Communication(IDCC) -- Ignore unavailable to you. Want to Upgrade?

To: postyle who wrote (4659)	4/12/2001 12:03:56 PM
From: Jim Lurgio	Read Replies (1) \| Respond to of 5195

InterDigital Communications Corp. (C) BUY Joel W. Achramowicz (IDCC: $9.49) PMG - 4/12/01 415-315-1634 InterDigital is a leading wireless systems technology and intellectual property (IPR), think-tank with nearly 30 years of experience in TDMA and CDMA wireless technology. We are initiating coverage of InterDigital Communications Corporation (IDCC, NASDAQ), a leading provider of high-performance transmission technologies for the wireless communications industry. Over the last thirty years InterDigital has established a leading technological franchise in both Time Division Multiple Access (TDMA) and Code Division Multiple Access (CDMA) air interface technologies (i.e., a good deal of the underlying TDMA technology used by AT&T and many of the wireless service providers in Europe and Asia is based on InterDigitals fundamental TDMA technology). With each passing year, InterDigital has amassed one of the wireless industry's most comprehensive Intellectual Property (IPR) portfolios; to date, the company claims more than 1,100 patents and patents pending around the world. Leveraging the company's expertise in wireless network architecture (i.e. command of Layers 1-3 of the digital air interface technologies for second generation (2G) and emerging third generation (3G) markets for wireless voice and data communications) Interdigital has been instrumental in defining the early 2G TDMA and GSM air interface specifications, the development of the UMTS FDD specification for voice and data the UMTS TDD specification for high-speed asymmetrical wireless digital data transmission. New 10-year strategic deal with Infineon and the recent signing of a major licensing agreement with Matsushita (Panasonic), validate the company's technology, 3G patent portfolio, and engineering team. Since Interdigital is one of only a few companies with strong IPR positions in both FDD and TDD W-CDMA, the company is well positioned to participate and profit from the ensuing growth we expect in 3G technology. Indeed, the deal InterDigital struck last week with Infineon puts InterDigital in the driver's seat and in a poll position as the first W-CDMA technology wave, Frequency Division Duplex (FDD), proliferates. FDD will support significantly improved digital voice capacity along with significantly higher digital data rates for wireless Internet access, However, because FDD will be configured in macro-cell configurations, the peak throughputs will not reach the 2 Mbps threshold. This will be accomplished with implementation of TDD technology in micro and pico cell configurations. And guess what. Interdigital has its bases covered in TDD too. The use of Time Division Duplex (TDD) technologies in compliance with the W-CDMA 3G specifications will provide even better peak data performance up to 2 Mbps, while providing for asymmetrical data granularity without paired-frequency bands, So, with it's strong IPR position in both of these areas, InterDigital represents one of the most palatable 3G intellectual property plays on the market today, in our opinion. And along with the Infineon announcement last week, Matsushita weighed in as well by striking a major licensing deal with InterDigital that includes a $19.0 million up-front licensing payment. Now that's validation * Investors interested in owning a producer of essential, patented IPR which will fuel the W-CDMA 3G air interface standard must be involved in InterDigital, in our opinion. Accordingly, we are initiating coverage of this most interesting company with a BUY rating and a $17 price target. In our opinion, QualComm(QCOM) investors might consider taking a good look at InterDigital. Indeed, we believe InterDigital has one of the strongest patent positions in both FDD and TDD W-CDMA technology; in contrast, Qualcomm has a very limited position in TDD technology, if any, at the current time! EPS: FY2001 (mar.)($0.07); FY2002 (Mar.) $0.01 Shares Out.: 54.OM Mkt, Cap.: 12M PMG Activity Log--Sales Presentations: Date Location Event Featured PMG Contact May 1-2, Philadelphia Spectri4n Mike Angel, CFO Ted Rauch 2001 New York Corporation Tom Waachter, CEO Managing Available for Director I-on-I ragingbull.lycos.com