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Qualcomm wrote off Globalstar in the last quarter, so it incurred a loss. This is also why you see silly P/E ratios listed in various places. If companies were worth their latest earnings, which seems to be what we're being told lately, Chrysler would be worth less than zero.

What you should know about Qualcomm's earnings is that it is unclear if and how much earnings will grow in the next few quarters, with the overall economic slowdown. However, the expectation is that, once CDMA becomes dominant in the next few years, the earnings will rise exponentially.

By the way, for what it's worth (given my general opinion of "analysts"), Joan Lappin of Gramercy Capital lists Qualcomm as one of the "Six Stocks Physicians Must Own in 2001" in the January 15 issue of Physician's Money Digest. Since she warned against buying Qualcomm at 150 a year ago, she has some credibility.
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