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Strategies & Market Trends : The Covered Calls for Dummies Thread

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To: Uncle Frank who wrote (1466)	7/12/2001 8:58:34 PM
From: cfoe	Read Replies (1) of 5205

and because of my expectations for an earnings run. In regard to the above, here is a clip from Briefing.com this afternoon: QUALCOMM (QCOM) 63.36 +6.91: Goldman Sachs previews QCOM's quarterly results; says that while there is risk to this and next qtr's numbers, news flow and business is likely to improve exiting the qtr and the stock should break out of its trading range once near-term concerns fade; sees encouraging signs about 3G deployment plans and equipment contracts. GS is not the first brokerage that has expressed near-term concern. Personally, I do not expect them to miss this past quarter, but they could pre-announce a further lowering of Q4 results (they lowered Q3 and Q4 forecast on the Q2 conference calls). Prior to the NOK deal and MOT comments on cell-phone sales this morning, I think any nervousness about further lowering of Q4 results would have hit the stock hard. However, both of these events have strengthened the long-term prospects for QCOM. So it looks to me like a toss up heading towards earnings. I jumped because $66.30 is a 60+ proforma P.E. on FY-01 earnings. Definitely high in this market.

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