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Technology Stocks : The New QUALCOMM - Coming Into Buy Range
QCOM 178.63-1.3%Oct 29 3:59 PM EDT
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From: Lance Bredvold8/5/2023 4:07:00 PM
1 Recommendation

Recommended By
waitwatchwander

   of 9128
 
If one wishes to compare QCOM's PE with other companies, I'd suggest Media Tek 2454.TW . After all, their business model is much like QCOM's and their PE is currently 11. I guess it's been higher recently but declined due to good recent earnings reports. Our business is much less similar to NVDA, AMD, or AAPL. Our EPS growth has exceeded most others and so has our stock price over the long (20 year) term.

PE's are neither right nor wrong; they simply reflect the opinion of people who invest real money in each company. about future prospects and dangers. I'd also want to include past performance as an indication of how they will handle difficulties upcoming. The one I see as most scary, is the decline of sales in China as more and more pressure is put on our technology companies to restrict those sales. Even now only 4G modems/SOC sales into China are encouraged by the federal government. At least to Huawai.

I personally found the recent earnings report to be OK, not great but not bad either. I put an order in to buy at $105 and the market went no where near there. I still say a fair price for QCOM stock today is $137 based upon the fact that over the past 3 years that's the average of what people have been willing to risk on it. I seek opportunities to buy under that price and will begin looking for opportunities to sell about 20% above $137. Yes, a recession or more disappointment over Chinese markets would modify that level slightly and slowly. At $110 (80% of 137) or less I see it as a screaming buy. At $120 I'd still be buying if I had not purchased beyond my usual 10% of portfolio limit already.
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