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

To: Uncle Frank who wrote (101156)	7/3/2001 3:10:55 PM
From: pompsander	Read Replies (1) \| Respond to of 152472

Frank and thread: As a QCOM shareholder but one who has not been able to keep up on everything, would someone take a few moments and explain the "true" significance of the Nokia licensing arrangement. I am sure others would also appreciate the insights of the wise ones on this thread. Pomp

To: Uncle Frank who wrote (101156)	7/3/2001 9:59:38 PM
From: SOROS	Read Replies (2) \| Respond to of 152472

This market thinking is unbelievable. Can someone tell me what QCOM's PE actually is for this year, next year, and the year after that? Can someone tell me how investors can buy ITWO when they MISS BIG and feed the investing public these "pro forma" garbage numbers? Since when are "pro forma" numbers accepted like they are real accounting? I'll tell you when. When investors have become so spoiled that they actually think they deserve 20% annual returns forever. Words can't describe the idiocy being accepted today from the mouths of CFO's in these companies. Make fun and discount this warning, but a good spanking is coming to greedy, spoiled, living-beyond-their-means, Americans who condoned a Clinton presidency and all that went with it, and ordain gay ministers and try to force gay boy scout leaders, and abort humans (not fetuses), and call two men or two women or one woman a "family", and trounce the Constitution -- and WHY does America do all these things? If you dig deep enough, you will find that all of these have a basic root. And what a coincidence that the Bible (the best selling "fairy" tale book in America) says that the root of ALL evil is the LOVE of money. What a surprise what motivates everything going on in the "new era" world! Oh, call me a raving lunatic, but you will not be able to say you were not warned. Watch the "retirements" of millions go up in vapor as this greed bubble implodes on fictitious accounting practices. There is a HUGE GAAP between reality and spoon-fed nonsense today. Keep opening up your mouths and taking it in because your sugar-Daddy keeps telling you, you deserve all you can get. When you finally choke on it, don't complain. I remain, SOROS ps This is not directed at Uncle Frank. I just like his name.

To: Uncle Frank who wrote (101156)	7/4/2001 1:11:00 AM
From: Jon Koplik	Read Replies (1) \| Respond to of 152472

Text of that TheStreet.com piece on QCOM / NOK news. thestreet.com Nokia License Agreement Makes Qualcomm Legit By Tish Williams Senior Writer 7/3/01 1:54 PM ET Mr. Stomach, meet Mr. Throat. Yes, Qualcomm (QCOM:Nasdaq - news - commentary) investors, Nokia (NOK:NYSE ADR - news - commentary) signed up to license those patents. Qualcomm investors have stocked the fridge with champagne, ready for the day when market leader Nokia would bow to the CDMA master and agree to pay Qualcomm royalties on its handsets. Before the market opened, Nokia and Qualcomm set them toasting, announcing Nokia would pay licensing fees for Qualcomm's code division multiple access technology for third-generation (3G) handsets as well as infrastructure equipment. Qualcomm was up more than $5 on the news, almost a 10% gain. Cue the angels. Sing! Sing! "This takes a lot of uncertainty out of the Qualcomm story," says Peter Friedland with WR Hambrecht. "There were a number of overhangs, and now they're moot." Specifically, Qualcomm investors were worried about the possibility that Nokia would try to use its own intellectual property to build 3G phones and work around Qualcomm's CDMA patents. CDMA licensing is Qualcomm's bread and butter, and the absence of the leading mobile-phone maker has left a doubt-inspiring gap in its lineup. Another question was whether Nokia would agree to license Qualcomm's technology, but would try to throw its weight around to get a better price. Tuesday's release put all those fears to rest as Nokia signed on to expand its Qualcomm relationship to the next generation 1X, CDMA 2000 and W-CDMA flavors of Qualcomm's CDMA technologies at the same full royalty rates it licensed older second-generation handset technology back in 1992. "As we go forward on third generation and concentrate on wideband CDMA," explained Nokia spokesperson Megan Matthews, "this ensures that we have access on any relevant patents Qualcomm may hold." "Qualcomm never capitulated and Nokia signed on at the same rate, even though Nokia had fairly compelling arguments," says Merrill Lynch analyst Bill Choi of the possibility Nokia wouldn't be forced to pay full royalty prices on the millions of phones it will sell in the future. "They said 'we're the largest handset manufacturer, with close to 40% market share. The world is going to go W-CDMA. You should give us a volume discount.' They did not get that." Choi upped his intermediate rating on Qualcomm from neutral to accumulate. Merrill Lynch hasn't done banking for the wireless technology firm. Additionally, the new agreement includes network infrastructure, which wasn't part of the 1992 licensing deal, as Nokia tries to increase its market share in that Ericsson (ERICY:Nasdaq ADR - news - commentary)-dominated part of the wireless equipment business. You'll remember that when China Unicom was handing out CDMA contracts on May 1, Nokia wasn't included. It wasn't so much a slight as a reminder that Nokia is still an up-and-coming infrastructure player and CDMA is not one of its strengths at the moment. CDMA equipment is Ericsson's, Lucent's (LU:NYSE - news - commentary), Nortel's (NT:NYSE - news - commentary) and Motorola's (MOT:NYSE - news - commentary) strong suit. Qualcomm also will be able to use Nokia-patented technology in its mobile-phone chipsets. Happiness, all around. Especially for Qualcomm investors. Raise those glasses. © 1996-2001 TheStreet.com, Inc. All rights reserved.