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Strategies & Market Trends : Gorilla and King Portfolio Candidates -- Ignore unavailable to you. Want to Upgrade?

To: Bruce Brown who wrote (47519)	10/5/2001 9:16:28 AM
From: stockman_scott	Respond to of 54805

Re: QCOM... <<Who knows? Maybe it's a terrorist attack on the stock?>> LOL...Good one Bruce...QCOM is a good company BUT it seems to be out of favor during one of the bigger weeks for the Nasdaq. I'm a lot better off position trading stocks like BRCD, DELL, QLGC and VRTS. All of these may also be good LTB&Hs but in this market I'm not holding anything over the LT but cash -- once targets are hit then I sell...Who knows, QCOM may surprise folks in 2002 though...=) Best Regards, Scott

To: Bruce Brown who wrote (47519)	10/5/2001 1:48:50 PM
From: straight life	Read Replies (1) \| Respond to of 54805

Qualcomm Estimates Cut on Rollout Concern LOS ANGELES (Reuters) - (here's a link that actually has something to do with this thread...) dailynews.yahoo.com Shares in Qualcomm Inc. (Nasdaq:QCOM - news) hit their lowest level in over two years on Friday as two brokerages cut their earnings estimates on delayed network rollouts among Qualcomm customers and other concerns. Shares in Qualcomm were down 6 percent at $39.48 in early afternoon trade on Nasdaq, below their previous 52-week low of $41.97 and well off their 52-week high of $107.81. Qualcomm shares last traded at these levels in early August, 1999. U.S. Bancorp Piper Jaffray analyst Sam May cut his fiscal 2002 earnings per share estimate to $1.19 from $1.23. Qualcomm's fiscal 2002 begins on Oct. 1. ``We are decreasing our (earnings per share estimate) for fiscal year 2002, due to growing concerns that declining interest rates may apply further pressure on interest income for Qualcomm,'' May said in a research note. He said that almost 23 percent of Qualcomm's earnings per share in the June quarter was derived from interest income on CDs, debt, and treasuries, making it susceptible to decreases in interest rates. As of June 30, Qualcomm had $2.1 billion in cash, cash equivalents, and securities. May also said that concerns on delayed rollout of the next generation of Qualcomm's Code Division Multiple Access (CDMA (news - web sites)) standard among cellular carriers in the United States and Japan ''move to the forefront as we move into the fourth quarter.'' He maintained his fourth-quarter estimates of $680.6 million in revenue and earnings of 25 cents per share. He also said he expects the company will grow revenues by almost 14 percent in fiscal 2002, to $3.1 billion. May said shares in Qualcomm will likely come under pressure in the short term, but long-term fundamentals are such that he is maintaining his ``buy'' rating on the stock. Similar concerns over the future rollouts of Qualcomm's next-generation technologies prompted earnings and revenue cuts from SG Cowen on Friday. The brokerage cut its fiscal 2001 earnings per share estimate to $1.04 from $1.05 and its 2001 revenue estimate to $2.719 billion from $2.722 billion. For fiscal 2002, the firm cut it earnings per share estimate to $1.20 from $1.24 and its revenue estimate to $3.164 billion from $3.219 billion. For fiscal 2003, the firm cut its earnings per share estimate to $1.70 from $1.76 and its revenue estimate to $4.18 billion from $4.322 billion.