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

To: JMD who wrote (10202)	4/23/1998 12:40:00 AM
From: dougjn	Respond to of 152472

I sold these guys ass again at 58.25 today. (Having bought in with high hopes on earnings on Friday at 55.25) To tell you the truth I am loosing a bit of patience. Yeah sure, you have the ultimate engineering geek raah raaah design crowd routing squad around here. And they deserve their cudos that area. But they decided they wanted to be a telco equip manufacturing co., as a leverage off their IP successess. And so far in that they have not done so well. This has been a very long true believer record. These guys better produce very soon or its basement ville. Doug

To: JMD who wrote (10202)	4/23/1998 9:27:00 AM
From: bananawind	Read Replies (2) \| Respond to of 152472

Nice post, Mike. Sorta ties the last 20 or 30 together. By the way, my HP12-c also died last month after only 14 years of abuse. I didn't hesitate to immediately send my assistant round the corner for a new one. Sure there's probably something better and sexier for my 70 bucks, but I can really fly on that baby and often use it for DCF calculations rather that setting up an Excel or Lotus spreadsheet. Seems to me the last one was over $200 at the time. What inflation? I don't see no stinking inflation. Right Maurice? On the MSFT deferred revenue front - No real analogy that I can see. Q's switch to accrual from cash basis is a move from conservative to more aggressive. I'll take what management said at face value - they now have enough experience and current information to make a decent estimate of royalties earned. If there's any analogy at all its that they may have the opportunity in future quarters to "bank" some revenues by being overly conservative in their estimates. -JLF $10 billion sales=$1 billion net=$13.70 eps=$275 price who cares if it isn't this week

To: JMD who wrote (10202)	4/23/1998 5:54:00 PM
From: dougjn	Respond to of 152472

Nice post, good summary. It's the quality thing that really gets me. But at least they appeared to have a first rate return and replace policy. This company is so well position in so many ways. State of the art cell phone technolgy. Wireless local loops. Satelitte ground equipment. I really hope they can get their manufacturing quality and costs more together. Their design work seems absolutely first rate. Not only the grand design, but also implementations, such as their Asic chip designs. So HOPEFULLY they will do like Intel did. FOCUS on getting the manufacturing right. (Many many not remember, but Intel had a real high defect and rejection rates in the early 80s, and many were desparing for the US chip industry in general, due to the much greater ability of the Japanese to do high quality clean room manufacturing. One doesn't hear that anymore.) Doug Doug