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

To: sea_biscuit who wrote (113113)	2/12/2002 9:00:00 PM
From: Art Bechhoefer	Read Replies (1) \| Respond to of 152472

Dipy, yes, I mean that the shares are undervalued compared with other technology shares, particularly those in telecom equipment companies. When I compare companies, I rely not only on the usual financial measurements but on less tangible things like the value of patents. For similarities, look at the long term growth in RCA, beginning in the 1930s. RCA held almost all the AM superheterodyne radio patents for both receivers and transmitters. As an aside, it is interesting that the superheterodyne design employing the reduction of a radio frequency signal to an intermediate frequency and then to an audio signal was the standard for the whole industry until QUALCOMM came out with its RadioOne technology, which goes directly from RF to audio, at a great saving in cost. These are the kinds of innovations that help determine true investment value. To ignore them is foolish. Art