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On the message boards: 'No worries' for QCOM
Also: Com21's collapse
By Shawn Langlois, CBS MarketWatch
Last Update: 4:41 PM ET Sep 2, 1999 NewsWatch Join the discussion
So the stock dropped 23 1/2 to 168 11/16 -- big deal. Judging from the sentiment on Qualcomm's message boards, investors simply shrugged off the bad day. After all, despite a turbulent marketplace, shares of Qualcomm (QCOM: news, msgs) have soared all summer long. See related story.
Silicon Investor's boards were ripe with QCOM bulls. Drake posted, "Remember people, when you buy stock, you're buying the competency of those who run the company -- wouldn't we all say that their competency has been outstanding to date? If our competent management needs to get rid of an unprofitable segment of their business, don't you think they will?" He then alluded to some potential seasonal prosperity: "What one gift for this coming Christmas will probably be the most sought-after by people all over the world?" Hmm, I don't know about you, but my 7-iron accidentally broke over my knee -- I could sure use a replacement.
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9/2/99 3:57:18 PM ET
CaxtonR exemplified the casual confidence of most long-term holders: "Life is good, no worries. 3-5 bagger in five years. How many people even understand the concept of a handheld wireless PC? Not many now, but in three years when everyone is doing the net thing with their CDMA/phone/PC it will all seem so clear. People's hindsight is much better than their foresight and that is awfully good for us QCOM investors."
JillN also took a light-hearted look at the fluctuation: "Somehow this market reminds me of that famous Gary Larson cartoon where two pilots are manning a plane: 'Sorry folks, there's going to be a little turbulence!' they announce, then have a blast veering their steering wheels from left to right."
I suppose this 'no worries' attitude is easy to have when your sitting on the type of gains that QCOM has amassed this year. I wonder if the guy who bought shares at 198 feels the same way. If the majority of posters are right, even that guy can afford to kick back and watch as Qualcomm jumps over this short-term hurdle.
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