Qualcomm(QCOM) -> SpinCo Message Board

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Technology Stocks : Qualcomm(QCOM) -> SpinCo

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To: Cooters who wrote (108)	8/20/2000 11:26:11 AM
From: Art Bechhoefer	Read Replies (1) of 172

Cooters, you have clarified your point. My answer to the question you raise on valuation is not either/or but both. Both companies, QCOM and Spinco, are probably valued incorrectly, and well below their intrinsic value. But when the IPO actually gets on the market, I'd be willing to bet that investors will bid up the price in short order, making it possible for the issue price to begin to reflect the true value of the asset. What I was suggesting (I really do not disagree with your view) is that QCOM, the parent company, remains the preferred investment, at least until we see how the Spinco IPO is priced.

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