Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 163.33

-1.0%

3:59 PM EST

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To: Ramsey Su who wrote (6992)	1/10/1998 7:24:00 PM
From: Maurice Winn	Read Replies (1) of 152472

"What is the opposite of irrational exuberance? 20%, 30% or more gap downs are normal these days." I suppose the opposite is paranoia or irrational fear? Anyway, $70 down to $46 is a 34% drop. I'm happy to think that decent sized drops are more than that. But those who paid $72 will not be feeling irrational exuberance. Probably the opposite. In the face of triple digit growth, P:E looking good, profits growing and no factors looking bad for Qualcomm, Korea's reorganisation notwithstanding which I don't see as a bad thing for Qualcomm - not substantial anyway, it is hard to worry about their prospects. The tide has carried Qualcomm along with everything else. How far out will the tide go? The opposite of irrational exuberance is: Share Price Falls Margin Calls Interest rate rises Currency inflation Profit declines Bankruptcies Market clearing costs Trade restrictions Rationing State control War Famine Death I guess on that list there is a long way to go yet before we could be sure share prices have bottomed out for Qualcomm. Assuming governments don't step in as they did in the early 1930s and cause the last 6 items to happen, then things should even out soon. Assuming governments won't wreck things is contrary to history, so not necessarily a good bet. Janet Reno is off to a good start. Probably she has caused it all with the attack on Bill G. Okay, enough off/on topic for me. Bye. Maurice

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