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

To: marginmike who wrote (30235)	5/18/1999 9:24:00 AM
From: idler	Read Replies (2) \| Respond to of 152472

I'm curious as to anybody's theory of "why" Q Hardy and WSJ would have a negative bias toward Q.

To: marginmike who wrote (30235)	5/18/1999 9:31:00 AM
From: Ramsey Su	Respond to of 152472

Hardy is to journalism what Cabi is to analysts! without whom, there would be no opportunity to buy. However, being greedy, I am hoping for more misinformation from anyone who would oblige. Through the years, I have learned to appreciate these reporters and analysts because they are so predictable. Not a TAer myself, but it does look like the uptrend is currently broken. May be QC will move with the market, though at a higher beta for the next couple of months before this qtr's earnings will shown even the most IQ challenged analysts what the new QC is really about. OT The best opportunity brewing right now is shorting HWP. Here is a high tech company with low single digit growth rate being rewarded with a PE of 26. Of course, the average "investor" only reads the headline "HWP earnings up 34%".

To: marginmike who wrote (30235)	5/18/1999 9:43:00 AM
From: quidditch	Read Replies (2) \| Respond to of 152472

Re. royalty accruals and quarterly results. From the Q release: <Also, actual royalty reports received to date from the Company's licensees for the second fiscal quarter exceed the accrual for the corresponding royalties accrued in the second fiscal quarter. Based on current performance in each of its business units, the Company expects that third fiscal quarter performance will meet or exceed...> Again, as CDMA customers and markets proliferate and sales increase, the quarterly variations in the accrual, and therefore in the reported quarterly results attributable to royalties, may become more significant as Q! feels its way toward improving the the indicia of predictability of the model for estimating royalty receipts. I believe the model is based on some relationship between handset sales and ASIC sales. Q! has said that it is conservative in its accrual policies and it will be interesting to see how the quoted statement in the Q! release may play out in Q-3: (i) by its press statement, Q! will have to adjust Q-3 revenues upward to account for the accrual understatement in Q-2 (if this is how it works from their accounting policies) and (ii) the question as to whether the Korean January-March bubble really had the effect of accelerating overall revenues above trend growth rates will be implicit in the current quarter accrual for Q-3 royalties. Foolish of Q Hardy et. al not to focus on this particular aspect of Q's quarterly accounting issues in a story that is directly on point. Regards. Liacos_samui PS: Love it how a little bit of the old adversity from Q!'s ancient foes gets the veterans on the board humming again!!!!!