"It's astonishing, after all the previous focus on the Korean Won's devaluation, that nobody and I mean nobody, seems to be talking about the Won's recent strength."
Gregg,
Very true. I think it really demonstrates how short people's attention spans are. The decline was short and sharp, whereas the recovery has been relatively long and arduous, and the focus of interest meanwhile has shifted to Japan. Then too, our various news media tend to emphasize the negative over the positive. In addition, once the media get an idea--like "Korea is a baket case"--into their collective heads, they seldom go back to revisit the assumptions.
"In my mind, the September quarter--not the June quarter--will be the seminal period for the Qualcomm faithful. In September investors--for the first time--will get a snapshot of the company's underlying profitability.... When this happens, the shorts, the lazy and the malicious will figuratively and literally get their heads handed to them. I, for one, plan to enjoy it immensely."
I agree, and was also surprised by all the attention and the big reaction to this quarter's results. The only thing about the next quarter's earnings report is that with our luck, we will at that point be in the midst of a tech stock slaughter like the one at the same time in 1997. I actually think that there's a pretty good chance of that happening, unfortunately.
==John |
