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

To: John Carragher who wrote (28046)	4/22/1999 7:42:00 AM
From: Mike Buckley	Read Replies (1) \| Respond to of 152472

John, I was afraid someone was going to ask me if I have a 12-month target for the Q. My numbers are very, very round, and my thought process is very simple. I'll explain. Try using the run rate of $4.80. Add a growth factor of your choice for each of the next few years. To be conservative, apply a pricing multiple that is equal to your growth factor. (The multiple will likely exceed the growth rate but that compensates for any overly enthusiastic growth assumptions.) It doesn't really matter what each of us estimates earnings to be in the future. It would be silly if we don't come up with dramatically higher numbers than we've got today, implying solid growth over the long term. That's what it's all about. Sorry to be evasive by not pinning down precise numbers. But it's not my specific assumptions that are important. It's the overall trend of the company and the adoption of the product in the market that's important. --Mike Buckley