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

To: bananawind who wrote (21673)	1/20/1999 11:42:00 AM
From: Anthony	Respond to of 152472

<< One final note from me. Can't find the reference but there was a definite hint that they may have lowballed the royalty accrual for the quarter, with some reference to "depending on strong christmas seasonal sales and the level of the Won" I got the impression they had purposely held the number down - just my impression and ultimately not a big deal.>> I also remember hearing Thornley saying that "we might be under estimate the royalties number for this quarter". So it seems they are indeed holding back the number somewhat. Any upgrade comments yet anyone?????

To: bananawind who wrote (21673)	1/20/1999 12:43:00 PM
From: straight life	Respond to of 152472

Jim- thanks very much; your detailed notes always very helpful. (EOM)

To: bananawind who wrote (21673)	1/20/1999 12:54:00 PM
From: JMD	Respond to of 152472

Jim, thanks very much for CC notes--I missed the call and appreciate the great summary. I think Clark has asked some great questions. Given the drag of the infrastructure division, I'm willing to say that the earnings were very solid but not spectacular. My guess is that it is in part because they didn't have inventory on the shelves during the Xmas season which is a major piss off. Since I personally was a frustrated shopper, the earnings were a pleasant surprise [in the sense that I thought they might not be as good as they were]. Still, we've got to do better next year. Cell phones are just boffo stocking stuffers and inadequate stock is not something that is beyond guys as smart as Irwin to figure out. The more troubling part of the report, as Clark pointed out, is growth in royalty/licensing revenues. I know the accounting is tricky as all get out, but it sure didn't look like a CDMA house a fire. I personally don't give a flying fig about day-to-day in the market [besides which the Q's price action post-earnings is a riddle I'll never figure out and gave up trying]. The market share of CDMA is, however, the fundamental mantra at least IMO so I'd be a happy camper if all you folks would share your thoughts on this one. Finally, my stealth holding of Texas Instruments is acting like Yahoo today. Part of the razzle-dazzle is apparently related to the announcement I'll paste below. Where does TI fit in the ASIC puzzle? TI today announced plans to acquire Butterfly VLSI, Ltd., for approximately $50 million, a move that will give the company expertise in short-distance wireless communications. Butterfly, located in Tel Aviv, Israel, is a pioneer in developing low-cost chipsets that enable radio frequency wireless communications in the 900 MHz and 2.4 GHz frequency bands. TIA, Surfer Mike