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

To: waverider who wrote (103504)	8/31/2001 4:54:43 PM
From: Dennis O'Bell	Read Replies (1) \| Respond to of 152472

He's been talking with Jacob Snyder? Art, my God. You've been so bullish on QCOM for so long. What is the cause for the change in tune?

To: waverider who wrote (103504)	8/31/2001 5:39:12 PM
From: Art Bechhoefer	Read Replies (2) \| Respond to of 152472

My change in assessment of QUALCOMM's prospects is based not on QUALCOMM but on the global recession that is now upon us. Read this week's issue of The Economist. We are likely to be in for an extended period of minimal capital investment, no matter how much demand is out there for improved wireless phone services. The fact is that the dominant companies in wireless telephony are able to control the speed of innovation, where and when it takes place, and which technology will be used. Because dominant companies have a way of using undue influence not only on customers but on governments, I do not expect QUALCOMM's superior, lower cost technology to stand much chance against the inferior technology touted by the companies with real muscle. Art