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

To: Art Bechhoefer who wrote (108052)	11/6/2001 6:13:28 PM
From: limtex	Respond to of 152472

AB - Anything from the CC? A/H doesn't seem to be saying anything about the CC. Best, L

To: Art Bechhoefer who wrote (108052)	11/6/2001 6:15:34 PM
From: Rocket Scientist	Read Replies (1) \| Respond to of 152472

Can someone explain Q's forecast for FY02 that Revenues will go up by 15-25%, but pro forma EPS by only 12-22%? I thought incremental revs were supposed to be at extremely high margin??

To: Art Bechhoefer who wrote (108052)	11/6/2001 6:15:51 PM
From: scots40	Respond to of 152472

I guess my concern is they guided down for 2002. Not that it matters to me, Im holding thru 2010 at least!

To: Art Bechhoefer who wrote (108052)	11/6/2001 6:20:31 PM
From: carranza2	Read Replies (1) \| Respond to of 152472

Agreed, Art. Very astute. However, I'm extremely upset that the license fee amortization change was done this quarter after Thornley said in the last cc that the Nokia multi-million fee would be booked in its entirety this quarter, and that the Nokia fee had already made the licensing division's quarter. This was not true, and while the accounting change took place during this quarter, there was no announcement of the change. As a result, a lot of investors and analysts were left with the impression that really impressive licensing fees would show up this quarter. Management should have announced the change. I feel mislead on this point. Management should have also emphasized the effect of the other accounting change much more strenously. If I read the PR correctly, it was in fact announced in July. It's significance and impact should have been made a lot more obvious.

To: Art Bechhoefer who wrote (108052)	11/6/2001 6:34:29 PM
From: limtex	Read Replies (2) \| Respond to of 152472

AB - I think that it is just the shock of this level of miss at a time when all the signs inlcuding anecdotal signs were that things should have been comfortable. Only today we got figures from Radio Shack, 1X handests are begining their ramp up in the US. Korea has been selling 1x handsets NOK and all the other goodies that have been announced. We had analysts saying they expected Q to make its numbers and we had IJ saying he was comfortable. This has more than anything been a nasty shock. Its even a bit difficult to see how the analysts are going to downgrade having many of them just come out with approving comments. And with what looks like a ceiling on next years earnings its hard to see where this goes. It doesn't look like there is much in the CC as the stock is still sliding. What a shame at a time when even just making what was expected would have given it a nice boost. Best, L