Qualcomm Inc (QCOM)

[Ricardo Montalban]

It took a little longer mthan I predicted to raise the dividend and the amount, .04mm a year, could have easily been more, but the statement it made about Qualcomm and their belief that the income will remain very strong showed courage. They also have a share buy back program to give each share more value. The less shares out there the more to divide by those who own the shares not repuchased. Its a bit comlicated but by doing this we are makiing a statement this country badly needs. We are placing a bet on our future in the wireless world with lots of growth to go. I think they like to make the announcements that are most favorable at the annual meeting where they can hear the immediate approval form shareholders in attendence. Had to miss it due to a back injury, but hope to be there next year whene they raise dividends .50 a year, or more and the stock really takes off. Who knows it just may happen now that Paul, who I think is less conservative than dad, is the man at the top. Lets have a great year for the Q in '09 as China is penetrated and gets on the 3 G banwago and Europe migrates to wcdma. I think at the low price we are now at this stock is a bargain.