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As other CFOs count their pennies, William Keitel of Qualcomm Inc. is deciding how to spend them. The San Diego-based wireless-technology concern has a lot of pennies these days, because it holds the patents for code-division multiple access (CDMA) technology, which is expected to be the dominant technology for the next generation of wireless communications. Keitel’s challenge as Qualcomm’s new CFO is figuring out how to invest the company’s free cash, estimated at $1.5 billion in 2002.

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