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Technology Stocks : Nokia (NOK) -- Ignore unavailable to you. Want to Upgrade?

To: slacker711 who wrote (19271)	4/1/2002 2:19:26 PM
From: elmatador	Respond to of 34857

How do you think wireless data will do in South America? <<I've always thought markets like Brazil would represent good opportunities for BREW and J2ME.>> I would say that the same opportunities it offers for BREW and J2ME are offered, as well to GPRS. <<The consumer doesnt have the built-in expectations (based on the wired internet) that consumers in the US do.>> US 73,7% GNP, last cited by Greenspan, is hedonist consumption. Brazil 60.1% of the GNP, according to IBGE (Brazilian Institute of Statistics), is hedonist consumption. The population emulates the consumption of the US. There are several pockets -the major cities, Sao Paulo, Rio, Curitiba etc- whose markets are very similar to the developed countries. Ther 'memory' of the wired Internet is there on those pockets.

To: slacker711 who wrote (19271)	4/1/2002 2:47:55 PM
From: slacker711	Read Replies (2) \| Respond to of 34857

Summary of CSFB report... investor.cnet.com Nokia (NOK $20.75-Cap $100B-Buy) Tim Long Nokia: Lowering from SB to BUY – Remains Core Holding FY02: $0.70, FY03: $0.80 * We are lowering our rating from Strong Buy to Buy to reflect our below consensus views on the wireless equipment market, and the subsequent impact on NOK. We believe declining revenue estimates will limit the upside in the shares. Our revenue estimate is currently about 5% below consensus for NOK in 2002. * Negative bias to global handset forecast: Our global handset build estimate of 410M is below NOK guidance of 420M units. Given the focus on new, higher-end models, we believe there is negative bias to our unit forecast. NOK should maintain market share this year, although CDMA share will likely decline over the next few quarters. * Consensus estimates too high: We believe global wireless infrastructure estimates need to come down to our recently lowered forecast of a 15% decline for 2002. We also see risk to NOK’s 2H:02 infrastructure guidance due to 3G rev. recognition issues. We have included an in-depth analysis of the 3G impact on NOK’s revenues and earnings in this report. * Remains core holding: We still view NOK as a core holding because of its dominant position in handsets, growing market share in infrastructure, best-in-breed margins and strong management team. We believe NOK is the most leveraged equipment company to a wireless recovery. We look for signs of market share gains from new products and improved visibility into 3G as catalysts to become more aggressive on the shares.