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

To: Maurice Winn who wrote (21620)	1/19/1999 7:29:00 PM
From: John Hatten	Read Replies (1) \| Respond to of 152472

CONF CALL HIGHLIGHTS A few notes from the conference call. 1) Brazil liscense will bring 1 billion in infrastructure business over the next 3 years. 2) Japan CDMA subscriber growth beginning to ramp up. One carrier with 370,000 and growing, another one getting ready to come on line 3) Irwin optimistic China will open up. 4) 3G - support for 4.096 chip rate is weakening 5) Margins continue to improve via improvements in manufacturing process and cost of supplies (Gregg had mentioned the same after his visit) 6) New phones will be introduced within a couple of months. PDq coming "soon" (according to Irwin) 7) San Diego factory augmenting phones to Brazil 8) QCOM considering an increase in phone production capacity 9) ASICS continue to do well. Shipped 5 million 10) Cash Balance 250 million. Payed down some debt. Q considering raising additional capital. (nothing new hear. They did not specify the tool for raising capital) 11) Continues to be large demand for phones 12) G* gateways complete. Service contract revenue for G* will continue to be strong at least through start of commercial service. 13) Getting costs under control and turning a profit a top priority for infrastructure division. Pursuing joint ventures. Not looking to sell division at this time. Overall impression - Although the analysts were not bursting with enthusiasm, they were not as skeptical in their questioning as the last conference call. Our friend CABI asked a question but did not mention missing his # of 70 cents a share. DR Jacobs was VERY UPBEAT and did a good job. The new president was also much more upbeat than his predecessor. Overall I would say they painted a good picture going forward. We will see with analysts comments tomorrow AM...Cautiously optimistic....JR

To: Maurice Winn who wrote (21620)	1/19/1999 9:08:00 PM
From: Gary Walker	Read Replies (1) \| Respond to of 152472

Well Maurice you are simply amazing! You don't need the mind of an elephant with your organizational ability. Whoa way back in '96! I have to tell you I was relieved to see the terrific earnings report tonight remembering back to the negative surprise in '96. Investors do have long memories and I bet that's part of what keeps the multiple down on Q. A couple more earnings surprises and I might come down to see a kiwi or two. The promise of the Q has been in the back of my mind for years. As you know I've dabbled along the way. Bought some at 39 this year during the dark days of summer then sold too early at 45. Most of the dabbling has been for naught. My AMZN shorting days are over. One thing I can clearly say is that I didn't get hurt too badly considering I was short the stock from 124 pre-split! Kept boxing and unboxing the position. Too tough on the nerves. I'm lucky to have "escaped" thanks not to my short but a couple of musings through the inut junk pile list. A little position in BAMM and ONSL for a few days back around the US Thanksgiving smoothed that over. Someday I'll write a book about those few months. Ya sure, me and a whole host of Joseph Kennedy wannabees. In any case, here I am, all the while lurking and sneaking a quick peek at the Q thread. I have to say this is a much more intelligent group on Q than that bunch over at the AMZN thread. But guess what? There's more millionaires over there than here is my guess. Dumb luck beats fundementals any day. My BAMM and ONSL positions are proof of that. Now I'm looking for a permanent home for my investment $$. Is Q that home? As you said we'll see. Regards, gw