CDMA, Qualcomm, [Hong Kong, Korea, LA] THE MARKET TEST! Message Board

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Technology Stocks : CDMA, Qualcomm, [Hong Kong, Korea, LA] THE MARKET TEST!

QCOM 174.23

-0.6%

Dec 22 3:59 PM EST

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To: Johnny Canuck who wrote (1362)	12/27/1996 1:29:00 PM
From: uu	of 1819

Harry, > I am curious to know what price you would consider to be fair > value for QCOM? In my humble opinion I think the fair value of the stock is around $18 to $20/shr. And I can almost guarantee you within the next 3 to 4 months, sometime after the quarter earning report you will see the stock at that price. Did you see what happen to Computer Associates (CA) this morning. They just reported lower revenue (and not neccessarily lower profit) and the stock has so far gone down by about $12/shr. CA was another example of 'irrational exuberance' in the stock market whose valuations are coming into line now. Although it will take another 4 to $5/shr for it to become a fair value for the stock. And CA has a strong balance sheet with practically no debt and a good share of the software market (the 2nd largest software company in the world!). And it's P/E eventhough extremly high, was not even close to the high P/E of QCOM! Just remember what Alan Greenspan said: Irrational Exuberance. There is a lot to that and there are a lot of stocks that are extremly over valued while there are plenty that are being overlooked and are extremly undervalued. Its as if there is no middle ground! Regards, - Addi Jamshidi

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