Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 165.24

-2.4%

Jan 13 3:59 PM EST

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To: JScurci who wrote (111092)	1/17/2002 3:37:51 PM
From: marginmike	Read Replies (3) of 152472

Nobody here is disbuting the benificial biz model Qcom has over Nok. Nor is anyone disbuting the competitive position of Qcom vis a vis the wireless industry. The question is what is a fair value for Qcom? When we purchased it back in the day we sold for less then 1X sales and 15-20 PE on forward earnings which was dirt cheap. Qcom also maintained 30-50% growth in revenues and earnings. Alas, Qcom now sports a 50-60PE with flat YOY growth, a pleathera of bad investements and a draging out of the 3G process. I do agree with your thoughts that Qcom is a buy when this thread gets antzy, but are we in the same murky trading range as 1997-1999? What is your arguement for valuation of Qcom, and is it a value at this price. The stock price is already assuming a 20% growth rate, at this point how much faster can Qcom grow? Regards MM

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