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

To: Elroy who wrote (113256)	2/14/2002 9:20:53 AM
From: Robert Scott Diver	Read Replies (1) \| Respond to of 152472

IMHO investors focused on revenue may miss the fact that earnings per share drive stock prices. In IBM's case, looking at flat revenue over the last five years and ignoring margin improvements as the business was restructured was a costly mistake for investors. It could also be costly mistake in QCOM's case. Scott

To: Elroy who wrote (113256)	2/14/2002 9:33:50 AM
From: TShirtPrinter	Read Replies (2) \| Respond to of 152472

Greetings Elroy, I'm not really a number cruncher, but comparing sales to previous sales needs a close study. Remember QCOM got rid of both the handset manf. and infrastructure divisions. They generated lots of sales but little to no profit. Tony

To: Elroy who wrote (113256)	2/14/2002 10:04:22 AM
From: Keith Feral	Respond to of 152472

QCOM has lost revenues from a number of non-core operations over the past few years with little or no margins ranging from infrastructure to handsets to globalstar. Who wants to be a Motorola of communications with very low profit margins? Now that QCOM is in a unique position within the chipset market for all CDMA ASICS - MSM, RF, CSM. With 20% revenue growth this year, QCOM will be able to increase it's pro forma EPS from .88 to .98. Hopefully, there will be no gaap adjusted writeoffs. With companies like Leap, Pegaso, Vesper hitting critical mass this year after slow start ups, I doubt there will anything to worry about on the investment side. Believe me, I can't wait to return to a quantitative analysis of Qualcomm as the opportunity presents itself. I want to be talking about EPS surprises, stock splits, and stock repurchase programs in the next 12 months.