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Technology Stocks : Qualcomm Moderated Thread - please read rules before posting -- Ignore unavailable to you. Want to Upgrade?

To: Ramsey Su who wrote (11193)	5/31/2001 12:08:17 PM
From: foundation	Read Replies (1) \| Respond to of 197203

"..So will the technoids on the thread explain how AWE can move from their current network to i-mode?.." ---------- Though I'm certainly no technoid, I know they must have packet data capabilities, so they have no choice but delay until GPRS is "in" - and then get totally hosed.

To: Ramsey Su who wrote (11193)	5/31/2001 4:40:30 PM
From: Art Bechhoefer	Read Replies (2) \| Respond to of 197203

Ramsey, you're right that AWE has tons of cash, even if it is from debt issues. But there comes a reckoning eventually. As debt service costs increase and profit margins decline (because of inability to provide competitive performance at competitive prices), it will dawn on analysts and portfolio managers that this company promises a very meagre return on investment. At that point, AWE may find itself in the same bind as Lucent does now: Too much debt and not enough cash flow to stay on the cutting edge of competition. The underlying problem continues to be a corporate culture that is still too dependent on old fashioned regulatory policy (cost plus reasonable rate of return) and nowhere near as entrepreneurial as, for example, the AirTouch management, now a part of Vodafone. Art