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Technology Stocks : Qualcomm Incorporated (QCOM)
QCOM 176.36+1.3%10:37 AM EST
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To: Frank Byers who wrote (6624)12/19/1997 4:46:00 AM
From: JGoren  Read Replies (1) of 152472
 
Sure hope you're not right. Seems to me that the price is only temporarily depressed and for those with buying power a great opportunity for mid to longer term investors. Analysts still expecting '98 to come in around $2.25 even after the post-Asian flu reassessment. Even at 30 PE that would mean a stock price of around $67.50. At 40PE that would be $80 but I sure would not expect to see price near that level until the second half of calendar 1998. FB, you do have excellent point that market may discount Qcom mid term, waiting to see what handset competition does to Qcom in view of the double whammy from Asia.

Unless rest of the world catches the flu, Qcom handset sales should not suffer much; ASIC's to Asia are Qcom problem. Company needs to redouble efforts at WLL infrastructure contracts. Vodaphone test results still not out. Ericy WCDMA press releases seem more like saber rattling before the standstill agreement expires in 13 days, Chuckj notwithstanding.

For what it's worth, if I recall correctly, in the last three years Qcom has gone down quite a bit in December and bounced back significantly in January.

I'm selling Dallas Cowboys short, not Qcom. Anybody want any Barry Switzer puts? I'm selling those. No takers? Well, never mind.
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