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

To: Art Bechhoefer who wrote (118809)	5/15/2002 2:56:12 PM
From: garrettjax	Read Replies (1) \| Respond to of 152472

Are there any catches? What about capitulation by Nokia and the cabal on WCDMA?? B^) -g

To: Art Bechhoefer who wrote (118809)	5/15/2002 10:15:42 PM
From: KyrosL	Read Replies (2) \| Respond to of 152472

Art, your "book value per share" measure should deduct the portion of book value increase that is due to the exercise of employee stock options. QCOM's book value (around $7) is very small compared to its stock price and many of the employee stock options have been and are being issued at prices considerably above QCOM's book value. So, when these options are exercised, QCOM's book value (and its cash pile) increases. I am sure you realize that such an increase cannot be considered in evaluating QCOM as a business. Kyros