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Technology Stocks : Qualcomm Incorporated (QCOM)
QCOM 155.82-1.3%Jan 23 9:30 AM EST
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To: Ibexx who wrote (55801)12/24/1999 9:36:00 PM
From: Skeeter Bug  Read Replies (4) of 152472
 
>>Most serious investors of Q* would welcome pullbacks like today's for the long
haul.<<

if ya'll like the pullback here, you'll love the pullback to fair value. qcom, the stock is waaaaay ahead of itself. technology is good and qcom will surely make some money from it. however, qcom can't mfr consumer products efficiently. they failed miserably at base stations. revs will tumble after they lose qpe (gross margins will rise and earnings will probably be unaffected for the most part). they saved some revenue and profit by keeping their cost + engr deal.

keep in mind that qcom would earn $5 - 6 billion a year for the next 30 years to match a tbill. (what does microsoft earn with their HUGE margins and total market dominance in a HUGE industry?). of course, the q must earn more than this as a tbill is guaranteed and qcom's fortunes are not, current valuation notwithstanding.

HUGE assumptions of possibility have led to this stock price. probability was escorted out the door a LOOOOOOOOOOONG time ago.

good luck to the folks who have been in for the ride. there is a time to buy and thereis a time to sell.

don't look a gift horse in the mouth.

loose monetary policy can't continue to support stock valuations above fair value for ever.
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