Mike, I think you totally misunderstood what I am saying, because it is Friday, I am tired, have not packed, still has long to-do list, and am not sure what I think you think I said.
So in order to make it perfectly clear, this is my position. I am very bearish short term (may be 2 qtrs) and very bullish long term (18 months on). I am not suggesting that there is no fix. This SEA problem will pass and the whole region would be much better off because of it. The way China, Korea, Japan, Indonesia etc etc do business must end if they are to compete in the modern world. This could be the perfect opportunity.
Think of it as major surgery. It is going to hurt like hell for a while but the end product will be much better. If you like QCOM at 70, wouldn't you like it much better at 40? There is nothing wrong with the company, it is the customer who is having some problems. In the end, do you think Korea will dump their cell phones together with the infrastructure? Are they going back to styrofoam cups connected by strings?
Here is my wish list for next spring. QCOM - 30s, CSCO - 30s, ORCL - single digit, CA - 30s, CPQ - 30s, SUNW - teens, MSFT - 0 because BG got indicted and sent to jail.
Ramsey |
