IMO:IF you believe the $3.76 number..Then IDCC is currently priced at a multiple of less than 7X...Unless the "RUSH" is not over yet.
The 3.76 is a compelling number for 2003. I would think the market would normally discount the P/E based on the accrue and the tax usage for 2003 but the price will not be settled concerning P/E till the rush is over, I should just say spike. I wouldn't think P/E will not be factored till well into 2004. By then we will be talking about IFX,chips and whatever 3G licenses they may get