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

To: limtex who wrote (27556)	4/20/1999 9:28:00 AM
From: Art Bechhoefer	Respond to of 152472

<<Surely we can assume that AOL has some pretty good professional advice and wouldn't be doing things that they hadn't been assured were correct.>> AOL has lots of young, quite inexperienced managers. While they may have available some good professional advice, it is not clear to me that they listen, nor is it clear that their motive is anything other than that they think they can get away with it. Comparing my contacts with AOL staff and the people at QCOM, I can state with certainty that the two groups represent the opposite extremes of the spectrum. Here you have QCOM with a huge reservoir of experience gained from its earlier company, and a seasoned management capability. Not so at AOL. Furthermore, AOL strategy of dominating its market, while eminently successful so far, does not mean that the company can produce a decent return on investment (i.e., measured by profit margins, return on equity, return on assets, or whatever other meaningful measure you may choose). Art