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

To: Ibexx who wrote (101684)	7/13/2001 4:18:38 PM
From: surfbaron	Read Replies (1) \| Respond to of 152472

Ibexx: For Q, Nok is not the problem. It's the Nasdaq.

To: Ibexx who wrote (101684)	7/13/2001 7:34:00 PM
From: Jon Koplik	Read Replies (2) \| Respond to of 152472

Re : "pinheads" figuring out QCOM does not = NOK (as evidenced by the share prices of QCOM and NOK actually not moving in tandem (at least for the past few days)) -- I heard that part of the reason that Argentina "crashed and burned" (securities prices, anyway) ... while U.S. stocks and bonds did pretty well ... lately, was : (As usual) (como siempre) -- lots of hedge funds were in the wrong way in both markets, and were un-winding losing positions at a rapid pace (muy rapido !). Whenever I see things like the QCOM / NOK spread doing what we all think is "correct," I worry that it is just some douchebag hedge fund briefly "lightening up" on their continuous and massive selling of QCOM, and buying of all of those "great" companies like Nokia, AT&T Wireless, IDC, Metricom, etc. Jon.

To: Ibexx who wrote (101684)	7/13/2001 9:20:29 PM
From: cfoe	Read Replies (3) \| Respond to of 152472

I think the Street has finally learned to decouple QCOM from NOK to some extent. I would question this assertion. I point to how QCOM jumped on the news of the NOK-QCOM 3G deal as evidence that QCOM's future prospects are, at least to some degree, seen by the market as tied to NOK's prospects. I think it is true that QCOM's prospects are inversely tied to NOK's GSM results. (The worse NOK is doing with GSM, the faster they will need to promote and sell CDMA.) However, that may be too sophisticated for the average investor to get. And I would not put it past the MMs and short traders to take advantage of this if given the opportunity. Plus, QCOM is selling at 60+X '01 proforma earnings estimates. A "rich" valuation given the shape of the market these days. I know most of us on this thread love the company and the stock, but we need to keep our heads. This is not 1999!