Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 146.43

-4.1%

11:46 AM EST

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To: Boplicity who wrote (37805)	8/7/1999 5:16:00 PM
From: Keith Feral	Read Replies (2) of 152472

At $120 per share, QCOM would be trading at 30 times forward EPS for 2000. This seems pretty conservative for a company that has posted a 450% EPS growth from last year. That is a PEG ratio under 0.10. Based upon the current valuation of high growth stocks with forward multiples over 50 times EPS, QCOM looks really cheap under $150. Currently, Smith Barney has a $210 price target, Merrill Lynch has a $200 target, AG Edwards has a $194 price target, Everen has a $200 price target. These are very realistic targets over the next 6 months IMO. Personally, I think that the TA has run it's course. I think the MSFT announcement about free internet access was a hoax. However, it created a capitulation in many NASDAQ stocks that was nothing short of a washout. Technical analysis is great until the capitulation occurs. Typically, once the bloodshed is over and the margin calls have been covered, it's back to the same old game - pick stocks with stellar EPS growth. At this point, QCOM is simply the best.

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