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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: Maurice Winn who wrote (50487)5/25/2004 11:26:02 PM
From: Toby Zidle  Read Replies (1) of 74559
 
I had said, "When QCOM stock hit $300 four years ago, analysts projected a $1000 target."

Then you replied, "Incidentally, QCOM reached only $200, momentarily, not $300 [split adjusted]. It was around $180 for a bit longer."

My timing was off by a few months, but I stand by my statement. QCOM crossed the $300 mark on 11/11/99 and traded in the $300s for a month. It was in that period that a well-known analyst projected a $1000 target. He was almost right. QCOM's High was $736 on 12/31/99, the day before its 4:1 split. QCOM did touch a split-adjusted $200 on 1/3/00 ($800 in pre-split numbers).

When the $1000 target was projected, we were in pre-split prices. You can't argue that $200 was the high price then. My "$300" was less than half of the high that was ultimately reached.
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