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

To: Ramsey Su who wrote (29799)	5/11/1999 3:28:00 PM
From: Cosmo Daisey	Read Replies (2) \| Respond to of 152472

RS, Could it be that activities at the Chinese Embasy led to the accidental bombing? Do you really believe the map story? cdaiseyPhD@i-spy-u-spy.com

To: Ramsey Su who wrote (29799)	5/11/1999 3:45:00 PM
From: quidditch	Read Replies (1) \| Respond to of 152472

Ramsey, thread: market, 10-Q: <I am really surprised that market does not react more negatively to this possibility. May be there will be a delayed reaction.> Not to mention that interest rates popped over 5.8% this afternoon. Persistent uptrend. GS economic research has a piece out this week that global demand is indeed picking up and that emerging market melts of the month seem to be past (in fact, predicts that the biggest threat to global pick-up in growth is US hard landing once trade imbalances come home to roost ). Some notes gleaned from the MD&A in the 10-Q, some of which were mentioned in the CC, others (to extent of my recall), not: - Q did not recognize the $17mm Russian receivable or the $26mm receivable with TOU (Ukraine carrier). [Editorial: given the Russian statement regarding postponement of deployment of "mobile CDMA" and the current Chinese mess (Russian ministers in Beijing this week), we may see these amounts written off by end of next quarter if recoverability still in doubt). - $60mm of the Q-2 charge for infrastructure related to difference between carrying (book) value of division and the E sales price, while the remainder of the infra-related charge pertained to guarantees of infra product sales that Q! will no longer pursue. - the $100m estimated charge proposed to be taken in Q-3 that includes employee-related expense for the infra sale is an estimate based on FMV of Q's share price; to the extent the price at Q-3 end is higher than the assumed value at the time that the future charge announced in late April, the size of the charge will increase due to higher difference between option exercise price and FMV - gross margins to increase for, among others, two reasons: (1) Q-2 costs of communications systems included$10 million in non-recurring charges related to infra equipment contract costs as a result of the sale; and (2) Q-2 COGS as % of communications revenues decreased primarily as a result of cost improvements related to ASICS--now we also have coming on board Sulpizio's indication that efficiencies arising from new handset manufacture. All this will be lost in the wash if the market turns down. Regards. Liacos_samui