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

To: Ron M who wrote (12458)	7/4/2001 10:39:26 AM
From: Ramsey Su	Read Replies (3) \| Respond to of 197239

Some very rough estimates and guesstimates, in no particular order: 1) NW spectrum, if I remember correctly, covers a pop size of 163 million. At $4.7 billion, that is just below $30 per pop. Though it will be inaccurate to do a direct comparison, but regardless of how you cut it, $30 per pop is a fraction of the $500/pop paid by the British and German 3G winners. Why wouldn't NW try to launch at this cost advantage? 2) I have yet been able to determine, with accuracy, the number of shares outstanding. The best guess right now is approximately 400 million shares including convertibles. The total number of shares last authorized appears to be 1 billion. We have asked NW directly and have yet to receive response. If the above is true, there are many options available to them to raise money. $100M to LU is certainly insignificant. 3) The NW principals, such as Salmasi, are in quite a different financial position today in comparison to 1996. Salmasi is probably worth billions himself, thanks to QC. Instead of having to beg, as they did in the old days, there are probably more avenues of financing available today. Can they do a quick and dirty Reg S? Can they bring NXLC back on the Naz and issue more shares? Now that Nokia is licensed, may be Nokia will offer to build out the network while providing 150% financing <gggg>? Is Salmasi the new McCaw of the wireless world? 4) What a strange twist of events in the wireless world. The European carriers now possess very expensive spectrums but have no technology to use them for years to come. Most of the US carriers have no spectrum, period, for any of their 3G plans. NW possesses the scarce commodity, totally unencumbered by old equipment and technology. Furthermore, the coverage is more than adequate to build upon as a nationwide carrier. Is it possible that the spectrum may actually be more valuable under NW as a package, than the split up value of $17 Billion at the re-auction? 5) NW should be very cdma friendly. They are in the enviable position of being able to install the latest and the greatest. QCOM's ring of fire might have just picked up one hell of an inferno. 6) Finally the difficult question, how much would the recent chain of events add to QC's top and bottom lines? Ramsey