Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 179.07

+3.7%

12:57 PM EST

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To: Dennis O'Bell who wrote (121248)	7/3/2002 9:06:01 AM
From: kech	Read Replies (3) of 152472

With Fed Funds at 1.75% you can get some pretty high expected multiples. 1/.0175 = 57 multiple. Ok so maybe you should use something more like a 3% cost of funds (margin buyers can get capital at 3%) so that would be 1/.03 = 33.3 multiple. Sounds like crazy multiples but these high multiple criticisms have to consider the interest rate environment.

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