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Technology Stocks : Qualcomm Incorporated (QCOM)
QCOM 159.42-1.2%Jan 16 9:30 AM EST
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To: Sawtooth who wrote (103953)9/6/2001 2:57:36 PM
From: marginmike  Read Replies (2) of 152472
 
PE's are irrelevent because they are based on estimates that can change for better or worse. In 96 Qcom had a forward 100Pe, in retrospect it was pretty cheap. The issue is does the economy, and wireless business start surging again. If so Qcom's earnings could increase 10-30% making the Pe a very reasonable 20-30. However the reverse is true as well. I remember BRCM was expecting to make 1.00 this year as of last DEC. Those estimates are now down 80%. The overall market PE is signifigent as a picture in time of where markets are in relation to business cycle. However trying to pick which stocks E will increase dramaticly is the issue. That being said I think Q is at fair value at 50-60
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