Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 174.01

-0.3%

Nov 14 9:30 AM EST

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To: Rich Bloem who wrote (48985)	11/10/1999 8:15:00 PM
From: Randall Knight	Read Replies (3) of 152472

Here's some "rational exuberance:" I'm reading through the thread and I'm getting the feeling that there are those who are feeling a little nervous about the share price. Let's put it into perspective. AOL as of today has a market cap of around $163 billion. QCOM has a market cap of just over $50 billion. AOL estimates for earnings next year average around $1.25 assuming a growth rate of 48% QCOM earnings estimates are around $4.00 assuming a 35% growth rate (pro forma) My feeling is that the AOL earnings are over estimated and the QCOM earnings are underestimated by biblical proportions. But, nevertheless, assuming estimates are correct, which stock would you rather be buying today? Can the Q keep climbing until it has reached the market cap of AOL? I'd be surprised if it didn't reach that level in less than a year. That puts the stock price at........ $950. At that point I'd say, "Well, we're finally getting to the point where Qualcomm is merely undervalued." The end.

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