QCOM's earnings have been more reliable than just about every other big cap tech?
Therein lies part of the rub, Jacob.
There has been a revolt against pro-forma vs. GAAP accounting methods for earnings calculations. If the latter method is used, earnings are not quite what they should be. If you're like me, and have a failure-proof eye for the truth of things, -vbg- you recognize that the GAAP figures take into consideration a bunch of items, mostly investment losses, which are not recurring. The money-making heart of the company--ASICs, license fees, royalties, etc., is, unlike a lot of other former high tech high flyers, roaring along just fine.
I will be disappointed if I see more charges and writeoffs, but I don't see anything significantly wrong with the heart and soul of the business.
Just my humble opinion. |
