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To: LindyBill who wrote (47517)	10/5/2001 7:02:44 AM
From: techreports	Read Replies (1) \| Respond to of 54805

What is your take on Qualcomm's drop during this Market Rise, Bruce? Do you think we are facing lower earnings? we can only speculate as to why Qualcomm has been weak. It could be due to the Nextel announcement that they'll stick with iDEN. I don't think many analysts however projected any revenues or EPS from Nextel moving to CDMA (well, i know one analyst didn't project anything from Nextel)

To: LindyBill who wrote (47517)	10/5/2001 7:41:54 AM
From: Bruce Brown	Read Replies (2) \| Respond to of 54805

What is your take on Qualcomm's drop during this Market Rise, Bruce? Do you think we are facing lower earnings? I could speculate on a lot of things that may have caused the drop in the share price or why the stock is 'reacting' to something at the moment. Concerns about military/government spectrum and wireless security in light of the terrorist attacks and the sophisticated encryption they were using; valuation concerns; rumors during the quiet period; the TA crowd jumped all at once together at about the same time when they saw a possible 'short' play; an upcoming downgrade; the Nextel news; possible earnings issues; completion of deflating the Qualcomm bubble excess from the past years, etc... . Who knows? Maybe it's a terrorist attack on the stock? Everything else in the media seems to be related to that these days... Much simpler to see that it sold off in heavy volume and broke through the low set in April which had been seen as 'support'. If there is a reason for the sell off from the above 'speculations', I guess we will eventually find out. Once we find out, then one makes a determination as to how this impacts the fundamental business going forward, how the stock reacts to that and at what price the stock represents 'value' of those revised fundamentals. It could very well just be a lemming head fake. That's life. We have to wait and see what is causing the reaction. A lot of people focused on it at the moment, though. BB