What’s the coolest thing coming in cell phones?
“Watching CNBC on your telephone,” replies Jacobs. “AT&T is launching our mobile TV service and it’s already available from Verizon.”
Will it be like TV?
“Just like TV,” he says. “We have some of the leading cable channels on the phone already and more content will be available soon. It looks like HDTV on your hand.”
Let’s talk economy. Have you experienced any ripples in demand as a result of consumer weakness?
“We expected to see dips, but the cell phone isn’t a luxury item anymore,” replies Jacobs. “It’s a staple and our demand is good. We re-affirmed our guidance and the order flow seems strong.”
Tell us about your stock?
“Stock price has been held down by people’s perception of litigation we’ve been in. If that’s how the market views us then we think it’s a good time to buy back stock,” replies Jacobs.
What’s your time frame?
“We put in place an automatic trading plan and it buys back in a somewhat measured pace,” Jacobs explains. “We went through the last $3 billion relatively quickly because the stock dipped down and it triggered the plan. But if the stock is cheap we want to return capital to the shareholders.”
Finally, what kind of phone do you use?
“I have two LG media flow phones,” he answers “and a BlackBerry!”
> Wireless Stocks: The Next Generation
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Trader disclosure: On Apr.1, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (DIS), (YHOO), (MSFT), (INTC); Najarian Owns (AAPL), (CSCO), (MSFT), (YHOO), (ORCL); Najarian Owns (AA) Calls, (BSC) Calls, (CCU) Calls; Najarian Owns (LEH) Puts, (MER) Puts; Najarian Is Long (XLF) And (XLF) Puts: Finerman Owns (GS); Finerman's Firm Owns (JCP), (MO), (MSFT), (VLO), (YHOO), (PM), (TIP):Finerman's Firm Is Short (IYR), (IJR), (MDY), (SPY), (IWM), (GLD)