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

To: Ramsey Su who wrote (25277)	3/26/1999 9:52:00 PM
From: llwk7051@aol.com	Read Replies (2) \| Respond to of 152472

Did anyone get calls during the day from brokers letting you know about huge run up early. I got one from my discount broker. This almost never happens and it makes me wonder if brokers weren't trying to get some longs to sell so shorts could be covered. Maybe just showing interest in their customers, but seemed strange to me. Robert d.

To: Ramsey Su who wrote (25277)	3/27/1999 3:52:00 PM
From: Art Bechhoefer	Read Replies (1) \| Respond to of 152472

Ramsey, Some of the initial buying must have been short covering, as there was a short position out there somewhere around 8 million shares. As to future price appeciation, I am not a Wall Street guru, though I do advise clients from my location in the finger lakes, in upstate NY. Based on the statements made at the Friday conference call, it seems reasonable to me to expect a share price within a year of somewhere between 140 and 170, using the following assumptions: (1) The market doesn't crash and maintains a level at least above 9200 on the Dow. (2) QCOM shares achieve a forward price-earnings ratio consistent with other telecommunication technology stocks (like Nokia, for example). (3) Revenue growth rate remains at least 40 percent annually (this is conservative, probably will be a lot more for the next couple years). Conclusion - one has every right to be bullish about this stock for the next five to ten years. Art Bechhoefer