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

To: Stock Farmer who wrote (114101)	2/22/2002 10:26:32 PM
From: Keith Feral	Read Replies (1) \| Respond to of 152472

On the contrary, I reviewed your posts and tried to dignify your comments with the attention they deserve. I think you are right to point out the depressed value of retained earnings. I see the trend for retained earnings to improve dramatically this year based on the lack of write-offs from impaired investments. The only matter I wanted to set straight was the fact that I said I got a solid b bar in accounting, not a d bar. <gg>

To: Stock Farmer who wrote (114101)	2/23/2002 8:16:17 AM
From: alburk	Read Replies (1) \| Respond to of 152472

What I am pointing out is that it's not unreasonable to expect them to have more than 4.8 Billions, given that shareholders gave them that much to begin with. Forgive me for intruding on this debate but... To cut to the heart of the matter, QCOM, and any other viable entity, has both realized value (retained earnings) and unrealized value (say the value of its assets to a buyer). I know you're saying "duh". But, a substantial portion of the IPO and secondary proceeds have been invested in the "unrealized value". So, it is unreasonable to draw conclusions about the success of this growth company based upon either accumulated cash or retained earnings. Of course they are both factors, but IMHO they have nothing to do with QCOM's value or shareholder returns--at least not at this point in the story. QCOM is not in the "CASH COW" stage of life. Andy