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

To: Jacob Snyder who wrote (106276)	10/5/2001 5:46:12 PM
From: carranza2	Read Replies (1) \| Respond to of 152472

I expect a big discrepancy between GAAP and pro forma, for QCOM, only in this Post-Bubble phase, which I expect to end sometime in 2002. The only possible future pro-forma item, in my opinion, is NetZero. That's a $144m item. Otherwise, the pro-forma business is over for good. But the moaning and groaning about it is definitely not. If GAAP is used to account for earnings, and a loss is sustained, then the EPS growth after the charges are over is, from a percentage standpoint, huge. How do you like them apples? I like 'em a lot. Lies, damn lies, and statistics. The bottom line is that the bulk of the write-offs are over and we'll start to see the true nature of the beast, which I think is phenomenally profitable. There is a place for pro-forma, because it validly eliminates the non-recurring and the extraordinary in order to give a picture of how things are absent the unusual items.