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Technology Stocks : Qualcomm Moderated Thread - please read rules before posting -- Ignore unavailable to you. Want to Upgrade?

To: Pierre who wrote (21126)	4/4/2002 10:47:59 AM
From: Jeff Vayda	Respond to of 196641

As to a cut from a previous link (post 21125: The Stupidity Paradox) "David Isenberg: Narrowband, closed networks make money precisely by charging for the optimization required by scarce bandwidth. They thrive by offering these networks the services uniquely enabled by that optimization. They make money, in short, by limiting their utility. Render bandwidth abundant and optimization obsolete and their margins disappear.Disappearing Margins" Teleco's are in a tuff spot and we are (at least in the short term) tied to telecoms. Jeff Vayda

To: Pierre who wrote (21126)	4/4/2002 11:59:05 AM
From: Ramsey Su	Read Replies (1) \| Respond to of 196641

Pierre, Unlike consensus opinion, I find most analysts very knowledgeable. Though I usually ignore their opinion, understanding that they have to say what the MONEY tell them to say, the analysis are very worth reading. Needless to say, there are always exceptions and Piper Jaffray is one. On March 4, PJ issued a report from their Asia trip, resulting in the first QCOM downgrade at that time. This is a list of the companies they supposedly visited: China Telecom, China Unicom, China Mobile, China Netcom, China Railcom, Nokia, Ericsson, Acer/Benq, Spectrian, UTStarcom in Beijing and Hangzhou, FITEL (the PHS operator and UTSI customer) in Taiwan, and a host of private wireless software companies and distributors in Beijing, Shanghai, Hangzhou, Hong Kong, and Taiwan. Each of us need to analyze the analysts. In this case, I opine that they did not talk to any of the right people to obtain information pertaining to QCOM and CDMA. Though Unicom is on the list, I suspect they talked to the wrong individuals. None of the 19 approved CDMA manufacturers, including MOT, is on the visit list. As an example, here are two of their conclusions: 2) The network is far from completion. With equipment for seven major vendors making up the network, we fully expect it to take several more months before any major network problems are resolved and coverage holes are filled. 3) With the exception of Motorola, most major foreign handset vendors do not intend to enter the CDMA handset market in 2002, implying the near-term opportunity may be too small for the consideration of OEMs such as NOK and ERICY. What do you think they could be talking about? Did NOK and ERICY tell Piper that they are not interested? Did Piper understand that they were NOT invited? Which 7 vendors are they talking about? LU is the biggest infra winner, did Piper talk to them? I guess my point is instead of being upset when there is a downgrade and exuberant when there is an upgrade, we should take a look at who and what is behind the opinion. Most of these analysts reports are available through your brokers. I caught some heat a few months ago, when I "declared" anything related to Tero's article at that time off topic. May be I will use this opportunity to explain that. When we discuss the subject matter here, I respect all opinions regardless of the sentiments. However, if you consider yourself a professional consultant, advisor .... then I would expect that person to have done some DD. The only thing I can suggest to the Teros or the Pipers are: go do some homework before embarrassing yourselves again. Ramsey