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

To: Mark Fleming who wrote (30762)	5/24/1999 5:41:00 PM
From: kech	Read Replies (2) \| Respond to of 152472

Did Thornley mention anything about the close of the ERICY/QCOM deal? The timing seemed to indicate that he would.

To: Mark Fleming who wrote (30762)	5/24/1999 5:52:00 PM
From: Peter J Hudson	Read Replies (2) \| Respond to of 152472

I thought Tony did OK. He did seem somewhat nervous and lacking in charisma, but I thought he did a good job of explaining the insider selling. When he was asked about selling the majority of his shares 6,xxx leaving only 1,xxx he pointed out that he still had 40,000 vested options and 200,000 unvested option. The interviewer ignored his correction. The statement that he would only sell when Q is in a strong position says it all.

To: Mark Fleming who wrote (30762)	5/24/1999 6:06:00 PM
From: Ruffian	Read Replies (2) \| Respond to of 152472

Have To Post This <gg> Da_Kman or Duh_kman? by: Titimation (old/M) 20999 of 20999 Thornley was noting that the company has a very short trading window for insiders and that this window would have remained closed if business were not very strong. Did you both to notice that previously there had been almost zero insider transactions for over a year? I love sanctimonious assholes like you...management creates millions in shareholder value but is never allowed to sell any stock and reap any reward? Thornley sells 20% of his net position and you castigate him? You are most likely a micro-brained day trader with the attention span of a flea...and someone like Thornley has to account to you? Do you even understand the tax obligation associated the option exercision? I doubt a putz like you could do the math let alone understand the tax code. As for Viterbi...that would be Dr. Viterbi to most micro-brains on this thread...he is a 65 year old man who sold 10% of his stock. Do you expect him to reap the rewards of HIS efforts...from a casket? I cannot tell whether you people are simply blind with greed or just plain stupid...probably both.

To: Mark Fleming who wrote (30762)	5/24/1999 6:53:00 PM
From: Art Bechhoefer	Read Replies (5) \| Respond to of 152472

Mark and All: I also heard the CFO, and anyone who listened carefully should be very pleased. First, he confirmed that earnings for this fiscal year (ending Sept. 30) would be in line with estimates at about $2.01, which is about 250% above the latest full year earnings. At today's closing price of 93, the stock is selling at 46 times this year's estimate, but growing at a rate that would justify better than twice that figure. Put another way, if earnings remain on target (and we know from past experience that QCOM generally exceeds estimates), the stock could easily justify a price of 200, though that is a bit beyond my own expectations. Regarding the CFO comments on stock options, the company grants options at the going stock price when the options are granted. This is a form of salary with built-in incentives, assuming the stock price goes up. A prudent employee with option privileges would be wise to sell stock and buy options, holding those options at least a year, then exercise the options, selling more stock to get money to buy more options, and so forth. The reason is clear: If you took all your money in salary, you would probably be taxed at near 39%, whereas if you cash your stock after holding it at least a year, you pay only 20% on the profit. Viterbi is now 65, so he gets an extra exemption, and it's even more beneficial for him to take profits in a company which he had a major role in bringing to fruition. To sum up, this is a very good interview, and any fairly knowledgable analyst will know that the stock at current prices is a real bargain. One other point. I don't believe the BENEFITS from the sale of the infrastructure division to Ericsson, now completed as of today, are fully recognized. That is, not only are handset and ASIC sales continuing at a brisk pace (contrary to the Wall Street Journal article, which the CFO simply said was not correct), but QUALCOMM no longer has to worry about the losses from its infrastructure division.