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

To: David E. Taylor who wrote (119600)	6/1/2002 2:47:08 PM
From: Stock Farmer	Read Replies (1) \| Respond to of 152472

I don't care what cost John Shannon attaches to employee option grants. What's relevant is how Qualcomm is required to account for them, either at the time of grant, or at the time of exercise. No objections from me. Someone's got to pay those of us who exercise stock options. Better you than me, IMHO. And personally, I'm quite glad that there are hordes of people determined not to try to figure out how much it's costing them. As for Qualcomm being too rich for my taste? Well, not so long ago it sure started getting close. I suspect another even better opportunity will present itself. I have patience, and am willing to be wrong. As for billions of subscribers? Sure. But that's an incomplete perspective. What matters is subscriber dollars. The business has experienced both profitability and growth as it enjoyed an unsaturated market at the top of the pay-scale. However, to double the penetration from here it must broaden into market strata where the opportunity cost of money (as seen by end subscribers) climbs by factor five or ten or twenty. As x varies from 1 to infinity, the curve (1-1/x) has some deceptively exponential characteristics at the outset. John