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

To: Ramsey Su who wrote (11233)	6/7/1998 2:10:00 PM
From: Jon Koplik	Respond to of 152472

Ramsey, regarding why QCOM went down, despite the seemingly endless stream of good news over the past week or so -- having worked as a trader on Wall Street at various points in my life, I cannot resist giving you my all time favorite "snappy answer" : more sellers than buyers. Also, just so you know, the NASDAQ short interest figures came out while you were gone. QCOM's short interest went from about 13.6 million shares to about 10.6 million shares. Still incredibly high, in my opinion, but I was hoping it would be unchanged to higher, personally. Jon.

To: Ramsey Su who wrote (11233)	6/7/1998 2:28:00 PM
From: dougjn	Respond to of 152472

<<Now why did the stock go down? Did I miss some negative news? >> Asia. The Naz has been weak for several weeks (with some recovery at the end of this week) on renewed fears that the U.S. is just beginning to feel the effects of the East Asian mess. There was concern that Asia will be in a worsening recession at least until the end of this year. The dollar/yen is predicted to go higher (now 140-150 is the talk). Fears of Chinese devaluation at some point in the future were heard. All of this was a dull background worry, rather than any sharp event driven fear. Its focused on concerns that we are entering into 2nd calendar quarter earnings warning season. Nothing specific to Qcom. But everyone knows about their Korean/Asian exposure. Doug

To: Ramsey Su who wrote (11233)	6/7/1998 2:57:00 PM
From: marginmike	Read Replies (1) \| Respond to of 152472

It really seems that most mainstream analysts either see somthing we dont, or are complete idiots. They dont understand royalty reduction is ok if market is 3 times larger. They are assuming lower royalties do to w-cDMA and evential settlement with Erickson will hurt bottomline. They tend to believe Erickson, over Qcom. They also seem to think that this Asian crissis is affecting CDMA phones dramaticly. They dont understand reverse positive effect of lower asian curency. They would rather make safe Lucent, Erickson bet then on qcom. Everyon e i speak with thinks Qcom is a good company, none will recomend the stock. However they wont tell me not to buy it. This seems to me to say the just dont understand the biz.