Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 165.07

-1.0%

Nov 18 3:59 PM EST

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To: carranza2 who wrote (119380)	5/28/2002 1:00:44 PM
From: Wyätt Gwyön	Read Replies (1) of 152472

i know we discussed this a bit before, and i am not any sort of macro expert, but while you are adding the shoes Nike makes in China to our tally, be sure to subtract the orders of magnitude larger sales of all the foreign auto subsidiaries stationed in the US. because if you want to take the foreign investment route, i think you will find there has been net foreign investment in the US (i.e., after you backout the US corporate investment abroad). it seems pretty obvious to me that our manufacturing base is being totally hollowed out (except for maybe defense/aerospace, which is not exactly bullish since it depends on a larger defense budget, and a larger public sector portion of the GDP implies lower productivity). a look at the YoY sales trends of the domestic vs foreign auto makers is rather depressing. meanwhile, the infotech areas where we have had a lead were obviously in a bubble. and besides, a number of cos in those areas are imho not true businesses, but rather Ponzi schemes dressed up as businesses.

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