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What: Earlier today, shares of PowerWave Technologies (Nasdaq: PWAV) rose more than 12% to a new 52-week high of $2.12 a share after Chief Product and Development Officer Khurram Sheikh previewed comments to be made at the Futurecom trade show in Brazil this week.

So what: In a press release, Sheikh argued that PowerWave's "inside-out" strategy for delivering 4G broadband was best suited for high-performance indoor wireless environments, but extensible enough to also address outdoor networks.

Now what: Sheikh speaks Wednesday, and PowerWave plans to demonstrate the technology throughout the show. What's interesting is that PowerWave, like Clearwire (Nasdaq: CLWR) and Qualcomm (Nasdaq: QCOM), is hedging its bets by creating components for both LTE and WiMAX 4G wireless networking equipment. It's a smart, Switzerland-style bet that could pay off, presuming there's more to this "inside-out" strategy than a fancy presentation.

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Fool contributor Tim Beyers is a member of the Motley Fool Rule Breakers stock-picking team. He didn't own shares in any of the companies mentioned in this article at the time of publication. Check out Tim's portfolio holdings and Foolish writings, or connect with him on Twitter as @milehighfool. You can also get his insights delivered directly to your RSS reader. The Motley Fool owns shares of Qualcomm and is also on Twitter as @TheMotleyFool. Its disclosure policy is at least 10% better than other disclosure policies.