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Technology Stocks : The New QUALCOMM - Coming Into Buy Range
QCOM 178.63-1.3%3:59 PM EDT
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Harshu Vyas
From: Lance Bredvold12/5/2024 9:54:51 AM
1 Recommendation  Read Replies (2) of 9128
 
Having just read the story of China's retaliatory statements against US chips, I finally feel the need to justify my opinion that QCOM's PE is too high. The lawsuit with Son seems to me of minor importance in terms of danger. Also of some concern is the suggestion of disrespect for Amon by apparent employees which I note on this board. Far different from the feeling about the company as headed by Jacobs, a humble scientist/engineer. I based my optimism for an increase from PE 11 or so mostly on the possibility of increased promotional efforts by a new CEO after years of the company saying little and carrying a big stick. I now begin to think the effect of increased PR has been spent with less than optimum results.

And another concern is the overall accounting BS in the market with the use of anticipated and "adjusted" earnings. Q used adjusted for many years and restrained themselves a bit as they were at least pretty consistent in their employment, but that kind of thing means "frothy" to me. Walter Frasee made is abundantly clear to his students that the accounting standards boards made every attempt to design GAAP as a positive and accurate representation of earnings across a wide range of companies and situations. They are the what I trust, but the market seems to increase price for the fantasy of "adjusted". Enigma.

I could certainly be mistaken. I hope so, but think I'd be wise to continue my efforts to reduce exposure at PE 16 or so.
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