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Technology Stocks : Qualcomm Incorporated (QCOM)
QCOM 169.37-2.7%11:37 AM EST
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To: KaiserSosze who wrote (46172)10/26/1999 9:02:00 AM
From: Jim Willie CB  Read Replies (2) of 152472
 
approaching earnings in April, we fell hard immediately prior to, then skyrocketed once the details were made public, continuing for about three more weeks

approaching earnings in July, we rose up to and thru the release to the public, continuing for about another week or more... QCOM beat estimates handily, thus continuing gently northward... but that situation was confounded with the entry of QCOM into the S&P500... a betrayal to share holders, as a secondary stock issuance was executed... the betrayal involved issuance of 50% more shares than the public was led to believe... Qualcomm certainly benefitted from the added capital for growth... but in the process, MidCap mutual funds sold at the end of one day, and S&P mutual funds were not to be seen the following morning to pick up demand

as a result, the S&P entry of QCOM serves now as the only counterexample in the last decade where an entered stock did not rise 7-15% from inclusion

in short: QCOM tends to rise right thru earnings announcments, as the details have tended to be spectacular... as in 30-45% above analyst expectations... I do not expect 30% above this time... analyst EPS estimates are in the 87c/sh range (correct me please)... I would be pleased to see $1.00/sh... I think we will beat analysts'

/ Jim
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