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

To: Kayaker who wrote (135147)	8/10/2004 5:49:16 PM
From: slacker711	Respond to of 152472

In addition, growth rates for flat panel display products softened and demand from certain Chinese wireless handset manufacturers was weaker than expected.... I am sure that we will get hit tomorrow....but FWIW, it has been noted by multiple companies that there is a pocket of excess GSM inventory in China. Also, during the presentation today, Bill Davidson stated that they are now experiencing some some small supply constraints on the MSM6xxx series. I guess they were too successful in transitioning customers away from the MSM5xxx series <g>. Slacker

To: Kayaker who wrote (135147)	8/10/2004 9:49:19 PM
From: Kayaker	Read Replies (2) \| Respond to of 152472

I'm assuming "direct comp" is short for "direct competitor"? IDCC is attractively priced relative to direct comp QCOM and on an EVA/DCF basis. Shares are at fair value assuming sustained mid-teens revenue growth from C06 and 35% operating margin. High operating leverage license revenue model suggest room for upside to estimates. Management expects IDCC to conclude additional licenses during the year based on the company's vast patent portfolio of over 4K issued patents and applications. The company is targeting the broad range of companies selling CDMA solutions as well as emerging opportunities in the cellular and WLAN markets.--Ping Yu, Briefing.com