Caris & Company Announces Investment Opinion on Qualcomm.Business Editors NOTE TO EDITORS: The following is an investment opinion issued by Caris & Company SAN DIEGO--(BUSINESS WIRE)--April 1, 2002 We are initiating coverage of Qualcomm with a buy rating, and a 12 month price target of $55. "Last week, China Unicom, one of China's two largest wireless carriers, announced that they intend to reduce capital spending capital spending Spending for long-term assets such as factories, equipment, machinery, and buildings that permits the production of more goods and services in future years. by 30% in 2002 and that CDMA (Code Division Multiple Access) A method for transmitting simultaneous signals over a shared portion of the spectrum. The foremost application of CDMA is the digital cellular phone technology from QUALCOMM that operates in the 800 MHz band and 1.9 GHz PCS band. subscribers grew by 9,000 in February and 62,000 in March. Although China Unicom still anticipates having 7 million CDMA subscribers within a year, a more conservative figure of 3-4 million subscribers still provides healthy margin for Qualcomm. China Unicom is committed to CDMA, and CDMA subscriber growth is still exponential. While adding 7 million subscribers may take longer, cyclical economic factors are already discounted in the stock price." For a full report, write info@cariscompany.com. Caris & Company is a full service investment bank, with offices in New York, Chicago, and San Diego. We aim to provide informative, sound, and timely research to our institutional clients to help them grow the assets of their portfolios. This material is based on data obtained from sources considered to be reliable. Caris & Company does not represent that it is accurate or complete and should not be relied upon as such. This information is not intended to be used as the primary basis of investment decisions. Because of individual client risk and return requirements and client investment constraints, this material should not be construed as advice designed to meet the particular needs of any investor. This information is not a representation by us or an offer or the solicitation of an offer to buy or sell any security. Member: NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). SIPC (Simply Interactive PC) An earlier umbrella term from Microsoft and Intel for a PC that works like a home appliance. For example, it has a sealed case, uses external connectors for expansion and boots in just a couple of seconds. CBOE CBOE See: Chicago Board Options Exchange CBOE See Chicago Board Options Exchange (CBOE). NFA NFA - Finite State Machine 12526 High bluff Drive, suite 290 San diego, ca 92130 (858) 704-0300 www.cariscompany.com nasd sipc cboe nfa |
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