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

To: DaveMG who wrote (25480)	3/29/1999 9:29:00 AM
From: Clarksterh	Read Replies (2) \| Respond to of 152472

Daves - Inre royalties contribution to the bottom line: While it is true that the royalties are about equal to the net profit, it is not true that without royalties we would have had no net profit. First, there are taxes which take a bite out of royalties. Second some of the operating costs should be 'assigned' to the operating costs. For instance, R&D is an indirect cost of future royalty streams and of course IP has to be sold and administered just as does real property. Certainly the accounting is interesting, but I would say that royalties contribute 1/7 of the gross profit and maybe 1/4(?) of the current bottom line. Clark

To: DaveMG who wrote (25480)	3/29/1999 9:35:00 AM
From: Gregg Powers	Read Replies (2) \| Respond to of 152472

Repent...the end of the world is upon us...Marc Cabi upgrades Qualcomm to a buy. I must be in some kind of drug-induced stupor, suffering psychotropic overload. First, I must bear witness to Dr. Jacobs shaking hands with Sven-Christer (with the latter apparently sucking on unripened citrus throughout the ceremony)....now I must somehow expand my consciousness to accept the concept that Marc Cabi, that's right MARC CABI, and I are in alignment as to our analytical opinion of Qualcomm. Somebody get me the collective writings of Nostradamus in a hurry!! All the best, Gregg