Sorry, but I don't agree on price future. I think it more likely that the price will stall somewhere around 60 to 62 and then fall back to lower 50's. I wouldn't expect it to move toward 70 until after the next quarterly report. Although I wish it were not true, I think today was largely the short-sellers closing their positions out. There were somewhat in excess of 7 million shares short according to earlier posts on the thread; the volume today was 7.4 million. The company obviously got hit too hard on the Korea/Asian scare, but I don't think the market is really focusing long-term on the stock. The thread has commented on the perceived weakness of the analysts covering the stock. I just don't think that the analysts and the market really understand the stock and, as yet, really believe in it. Obviously, the strong earnings had an impact, but I also believe that some players either wanted to cut their shorts or buy before the SuperBowl media blitz, which might give the company better visibility.
One bad note, twice now in Dallas (radio and TV), they have reported on pre-Super Bowl stuff. And, they say Qualcomm Stadium, choke, the old Jack whatever it was, and then comment why can't we just call it Jack Whatever. So Qualcomm ain't gettin no respect even from the sports folks. I have never heard them make such comments about another stadium, which has adopted a corporate name in recent years. |
