The New QUALCOMM - Coming Into Buy Range Message Board

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Technology Stocks : The New QUALCOMM - Coming Into Buy Range

QCOM 172.29

-2.2%

3:59 PM EST

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To: DanD who wrote (5695)	1/29/2010 6:16:13 AM
From: hedgefund	Read Replies (1) of 9132

I think Obama's rhetoric needs to be parsed. I think he was talking about taxing the foreign income of U.S. corporations and his catch phrase was "shipping jobs" overseas to give it a populist sugarcoating. This foreign income tax was an idea the administration originally espoused and then subsequently withdrew only to bring it back in the State of the Union. It is not good for multi-national tech companies like Q, essentially forcing them to repatriate the money they earn overseas and pay U.S. taxes (instead of deferring U.S. corporate taxes, which are some of the highest in the world). Not a good development for the Q.

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