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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 683.21

+0.2%

Jan 2 4:00 PM EST

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To: Johnny Canuck who wrote (56204)	12/31/2022 6:56:00 PM
From: Johnny Canuck	of 69408

Qualcomm Appears To Be Trading Lower Than Its Intrinsic Worth archive.ph >>>>>>>>>>>>> Johnny: I have not seen the 49% 5G chip growth through 2028 before. It seems high for the current market environment. I expect it is optimistic. With a potential recession worldwide in 2023 I expect people upgrading will be slower than expected. The subsidies are gone and the need to upgrade is less given that new features are not being added as quickly as in the past to handsets, at least features that capture the imagination of consumers. 5G applications that make money and add a real advantage to consumers is slow in coming. Enhance VR experience is one area of potential growth but it is still a question if consumers will pay for it or companies will do productions with the technology. For factor automatic and large data applications like connected cars it is also still too early in the process to see if someone can leverage all that data into a business model. That aside QCOM is a company in transition from the slower growing but still profitable handset business to a potentially broader but lower margin business Internet of Things (IOT) market (factory automation) and the new area of entertainment through VR experiences. I am not sure about their general ARM CPU initiative. That is a competitive business that is more cyclical and has them competing with INTC and AMD and as the lawsuit indicates what was ARMHY. It is a company that pays a modest 2.73 percent dividend and has a high single digit P/E )9.7) now. Given it patent portfolio and the knowledge of its engineering staff to get the most of their design QCOM is not a company that will disappear anytime soon. Long range support in is the high 60's base on where most traders bought in the last 10 years but I expect the low 90/s/high 80's will be bought aggressive if we get there is a sell at all cost market bottom.

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