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Technology Stocks : Qualcomm Incorporated (QCOM)
QCOM 174.01-0.3%Nov 14 9:30 AM EST
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To: marginmike who wrote (123665)8/30/2002 3:54:12 PM
From: limtex  Read Replies (1) of 152472
 
mm - here comes September and it looks like it wants to eat peoples net worth.

If anything the business climate seems to be deteriorating by the day. Those numbers from Radio Shack in August look foreboding and the last time RS had bead news it sent Q from $63 to $40 in a few short weeks.

Now with Sunw saying that things are if anything geting worse I'm beggining to think that you might actually get the 10% unemployent you forecast last year.

AS for Qcom however well it does is almost but not totally irrelevant. It is a hedge fund shorting favorite and gets sunk in the slightest breeze and yet it is one of the safest bets around certainly in tech.

My guess is that we get that old sinking feeling again till $23 -$24 sometime during Sept. Then a nicely timed downgrade or two to whack it down further, then Dr Jacobs issues a doing OK statement, ....back to $25 - $26 and so on till the results.

Then some analyst doesn't like something and he gets 'concerns' about growth in the US China ( which we never coutned on two years ago) or Europe and the stock sinks back to a new range of $25 - $28 to await the Dec qtr.

Maybe the economy will return one day but right now looks to me like its headed the other way and acclerating.

Roll on Nov 04.

Best,

L
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